ConAgra Foods Begins 29th Consecutive Year of Dividend Increases

CONAGRA FOODS BEGINS 29TH CONSECUTIVE YEAR OF DIVIDEND INCREASES

Omaha, Neb., Sept. 25, 2003

Today the board of directors of ConAgra Foods, Inc. (NYSE: CAG) announced the 29th consecutive year of dividend increases by raising the annual dividend to $1.04 per share from $0.99 per share. This represents an increase of 5.1%. It will be reflected in the company's quarterly dividend payment on December 1, 2003.

Dividends of $0.26 per share will be paid on December 1, 2003, to shareholders of record on October 31, 2003. This will be the first quarterly dividend at the $0.26 rate.

ConAgra Foods, Inc. (NYSE: CAG) is one of North America's largest packaged food companies, serving consumer grocery retailers, as well as restaurants and other foodservice establishments. Popular ConAgra Foods consumer brands include: ACT II, Armour, Banquet, Blue Bonnet, Butterball, Chef Boyardee, Cook's, Eckrich, Gulden's, Healthy Choice, Hebrew National, Hunt's, Kid Cuisine, Knott's Berry Farm, La Choy, Louis Kemp, Marie Callender's, Orville Redenbacher's, Parkay, Reddi-wip, Slim Jim, PAM, Pemmican, Peter Pan, Snack Pack, Swiss Miss, Van Camp's, Wesson, and many others. For more information, please visit us at www.conagrafoods.com.

For more information, contact:

Chris Kircher
Vice President, Communications
ConAgra Foods, Inc.
402-595-5392

Chris Klinefelter
Vice President, Investor Relations
ConAgra Foods, Inc.
402-595-4154