ConAgra Foods Declares Quarterly Common Stock Dividend

OMAHA, Neb., Dec. 4, 2003 - The board of directors of ConAgra Foods, Inc. (NYSE: CAG) has declared a quarterly common stock dividend of $0.26 per share. It will be paid on March 1, 2004, to stockholders of record on Jan. 30, 2004. This will be the second 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, Brown 'N Serve, Butterball, Chef Boyardee, Cook's, Crunch 'n Munch, DAVID, Decker, Eckrich, Egg Beaters, Fleischmann's, Gulden's, Healthy Choice, Hebrew National, Hunt's, Kid Cuisine, Knott's Berry Farm, La Choy, Lamb Weston, Libby's, Lightlife, Louis Kemp, Lunch Makers, MaMa Rosa's, Manwich, Marie Callender's, Orville Redenbacher's, PAM, Parkay, Pemmican, Peter Pan, Reddi-wip, Rosarita, Ro*Tel, Slim Jim, Snack Pack, Swiss Miss, Van Camp's, Wesson, Wolf, and many others. For more information, please visit us at www.conagrafoods.com.

For more information, contact:

MEDIA
Chris Kircher
Vice President, Communications
(402) 595-5392

ANALYSTS
Chris Klinefelter
Vice President, Investor Relations
(402) 595-4154