Friesland Foods not to repay perpetual note in 2008

14 April 2008

Koninklijke Friesland Foods N.V. will not use the possibility to repay the Perpetual Cumulative Subordinated Note issued in 2003 for a total nominal amount of 125 million euros with a coupon of 7.125% in 2008.

Under the conditions of the Note, Friesland Foods could repay the cumulative note for the first time this year.

Friesland Foods wishes to announce this, because ambiguities might arise regarding the possible repayment of the financing instrument, as a consequence of statements made on 10 April 2008 about adjustments to the financing structure and the draft merger agreement with Campina.