Hicks, Muse, Tate & Furst And Booth Creek Management Complete $1.4 Billion Acquisition of Fresh Meat Business of ConAgra Foods

Business Wire, Sept 19, 2002

Business Editors

DALLAS--(BUSINESS WIRE)--Sept. 19, 2002

Hicks, Muse, Tate & Furst Incorporated:

Acquired Business Renamed Swift & Company

Hicks, Muse, Tate & Furst Incorporated ("HMTF") and Booth Creek Management Corporation today announced that they have completed their previously announced $1.4 billion acquisition of the fresh beef and pork processing business of ConAgra Foods, Inc. (NYSE: CAG).

The acquired operations, which have been named Swift & Company, include the third-largest processor of both beef and pork in the United States, and the leading Australian beef processor. ConAgra Foods has retained a significant minority stake in Swift & Company.

About Hicks, Muse, Tate & Furst

With approximately $11 billion under management, HMTF since 1989 has completed or currently has pending more than 400 transactions with a total capital value of approximately $50 billion. Headquartered in Dallas, the firm also has offices in New York, London and Buenos Aires.

About Booth Creek Management

Booth Creek Management Corporation, based in Vail, Colorado, has extensive interests and experience in food processing, distribution and marketing in the United States and Canada. In addition, Booth Creek has significant investments and experience in the transportation, resort and leisure industries. George Gillett is also the owner of the Montreal Canadiens.