ConAgra Foods Declares Quarterly Common Stock Dividend

CONAGRA FOODS DECLARES QUARTERLY COMMON STOCK DIVIDEND

Omaha, NE, July 11, 2003

The board of directors of ConAgra Foods, Inc. (NYSE: CAG) has declared a quarterly common stock dividend of 24.75 cents per share. It will be paid on September 1, 2003, to stockholders of record on August 1, 2003. This will be the fourth quarterly dividend at the 24.75 cents rate.

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

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

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