News Release

Peter Pan Peanut Butter Returns to Strong Consumer and Retailer Demand

Aug 8, 2007, 12:01 AM EDT

100 Percent Satisfaction Guarantee on Every Jar

OMAHA, Neb.--(BUSINESS WIRE)--Aug. 8, 2007--Consumers and retailers alike have been eagerly anticipating the return of Peter Pan Peanut Butter, the brand that consumers have loved for nearly 80 years, and the wait is over. Peter Pan Peanut Butter will be on store shelves beginning in August, supported by increased distribution and strong consumer demand, plus a 100 percent satisfaction guarantee.

"Consumer and retailer demand for Peter Pan has been very strong, and we couldn't be more appreciative of their loyal following," said David Palfenier, president, Grocery, ConAgra Foods.

According to continuous consumer tracking data conducted by ConAgra Foods, nearly 80 percent of consumers who previously purchased Peter Pan Peanut Butter plan to purchase the brand when it is back on store shelves. Additionally, retailers - many of whom have held shelf space open specifically for Peter Pan Peanut Butter's return - are committed to carrying the brand. As of August 7, the top 30 Peter Pan grocery retailers plan to return this consumer favorite to their shelves. In fact, three of the top five Peter Pan retailers in the nation have increased distribution of the returning Peter Pan Peanut Butter items, ensuring consumers will be able to find it on store shelves nationwide.

"We're very pleased to be able to bring Peter Pan Peanut Butter back to the consumers who love it," said Gary Rodkin, CEO, ConAgra Foods. "We've ensured the highest levels of safety and quality, and have taken extremely thorough steps to provide a product and brand that consumers can trust completely. We appreciate all of the calls, letters and favorable comments from consumers who have patiently waited for Peter Pan's return."

Consumer inquiries included:

"My family has loved Peter Pan Peanut Butter for over 20-years now, and we miss it on our store shelves. Do you have any idea when you will be sending out new shipments to the stores?," asked a loyal Peter Pan consumer from Texas.

"My family will not eat anything but Peter Pan Peanut Butter (when it comes to Peanut butter). When can I expect to find it in stores again?," asked a loyal Peter Pan consumer from Ohio.

"I haven't had a peanut butter sandwich in quite sometime. I miss your Peter Pan products. When will I see Peter Pan Peanut Butter back on the shelf again?" asked a loyal Peter Pan consumer from Florida.

During its absence, ConAgra Foods took the opportunity to give Peter Pan Peanut Butter a makeover, with a new jar shape and colorful label, featuring a 100 percent satisfaction guarantee. If a consumer is not satisfied with their purchase for any reason, ConAgra Foods will refund the full purchase price. For more information, consumers can visit www.peterpanpb.com.

When the brand returns to store shelves in August, two varieties will initially be available - creamy and crunchy, each in 18-, 28- and 40-oz sizes. Other varieties will be available early next year.

B-Roll Satellite Feed
ALL on C-BAND/ANALOG
8/08/07    0400-0415am Eastern    Galaxy 25/C13    DL3960V
8/08/07    0700-0715am Eastern    Galaxy 25/C13    DL3960V
8/08/07    1000-1015am Eastern    Galaxy 25/C13    DL3960V
8/08/07    1430-1445pm Eastern    Galaxy 25/C13    DL3960V

About Peter Pan Peanut Butter

Peter Pan Peanut Butter was introduced nearly 80 years ago in 1928 by E.K. Pond, and it was the first shelf stable peanut butter on the market. Peter Pan Peanut Butter joined ConAgra Foods in 1990. Peter Pan is available in crunchy and creamy varieties in 18-, 28- and 40-oz sizes. For more information on Peter Pan Peanut Butter, please visit www.peterpanpb.com.

About ConAgra Foods

ConAgra Foods, Inc. (NYSE:CAG), is one of North America's leading packaged food companies, serving grocery retailers, as well as restaurants and other foodservice establishments. Popular ConAgra Foods consumer brands include: Banquet, Chef Boyardee, Egg Beaters, Healthy Choice, Hebrew National, Hunt's, Marie Callender's, Orville Redenbacher's, Reddi-wip, PAM and many others. For more information, please visit www.conagrafoods.com.


MULTIMEDIA AVAILABLE:
http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5467155



    CONTACT: ConAgra Foods, Inc.
             Stephanie Moritz
             Tel: 630-857-1550
             e-mail: stephanie.moritz@conagrafoods.com
             or
             Stephanie Childs
             Tel: 402-595-6258
             e-mail: stephanie.childs@conagrafoods.com
             www.peterpanpb.com
             www.conagrafoods.com

    SOURCE: ConAgra Foods, Inc.