Lady Baltimore Foods, Inc. D.I.P. Retains Keen Strategic Advisors to Liquidate Inventory

Business Wire, July 7, 2003

Business Editors

GREAT NECK, N.Y.--(BUSINESS WIRE)--July 7, 2003

Keen to Sell a Full Warehouse of Wholesale Food and

Restaurant Supplies

Lady Baltimore Foods, Inc., the Kansas City based food and restaurant wholesale supplier, has retained Keen Consultants, LLC to act as its special bankruptcy consultant to liquidate it's warehouse full of inventory. The 400,000 sq. ft. warehouse located in Kansas City, KS is filled to the rafters with goods, including frozen foods, equipment, supplies, cooler foods, chemical products and dry items. Keen Strategic Advisors, LLC is a consulting firm specializing in restructuring companies and selling excess assets. Lady Baltimore filed for Chapter 11 bankruptcy court protection on December 31, 2002.

"This represents an excellent opportunity for other wholesale distributors, food service operators like restaurants and hotels, off-price retailers, and liquidators," said Mike Matlat, Keen Realty's Vice President. "The inventory is on pallets and ready for pick up. We are encouraging prospective purchasers to make arrangements to inspect the goods and put in their bids immediately." Complete lists of inventory in certain lots are available upon request. A competitive bid process will be held on July 31, 2003 with a July 29, 2003 bid deadline. Interested parties need to move quickly.

For over 20 years, Keen Consultants, LLC has had extensive experience solving complex problems and evaluating and selling real estate, leases and businesses in bankruptcies, workouts and restructurings. Keen Consultants, a leader in identifying strategic investors and partners for businesses, has advised hundreds of clients nationwide, evaluated and disposed of over 200 million square feet of properties, and repositioned nearly 12,000 stores across the country. Other current and recent clients of Keen include Arthur Andersen, Big V Holdings, Cooker Restaurants, Country Home Bakers, Cumberland Farms, Eddie Bauer, Fleming, Spiegel, and Warnaco.

For more information regarding the sale of the Lady Baltimore inventory, please contact Keen Strategic Advisors, LLC, 60 Cutter Mill Road, Suite 407, Great Neck, NY 11021, Telephone: 516-482-2700 x 230, Fax: 516-482-5764, e-mail: mmatlat@keenconsultants.com or swalkley@keenconsultants.com .