R.A.B. Holdings, Inc. Announces a Definitive Agreement on the Restructuring of $115 Million of Senior Note Indebtedness

Business Wire, Nov 22, 2004

NEW YORK -- R.A.B. Holdings, Inc. ("Holdings") today announced that it has entered into definitive agreements with its bondholders regarding the restructuring of indebtedness outstanding under the Senior Notes issued by Holdings and the Notes issued by its subsidiary, R.A.B. Enterprises, Inc. ("Enterprises") (collectively, the "Company").

E[acute accent]The successful conclusion to these negotiations has resulted in a significant reduction in the Company's outstanding debt and annual cash interest expense, as well as extending its debt maturities until 2011. E[acute accent]Richard A. Bernstein, chairman and CEO of the Company, said, "I am delighted that we were able to bring to a successful conclusion our negotiations with our bondholders. This will enable the Company to move forward and permit us to complete the negotiations with our bank lenders on a new credit line". E[acute accent]R.A.B. Holdings, Inc. through its Millbrook Distribution Services Inc. subsidiary is the nation's largest full service independent distributor of specialty foods, health and beauty care products and general merchandise to supermarkets and mass market retailers in 40 states east of the Rocky Mountains. Millbrook also carries a line of its own private label brands as well as store brands and other special need items for specific customers. Through its specialty food group, R.A.B. Holdings, Inc. manufactures and markets Manischewitz(R), Horowitz Margareten(R), Goodman's(R), Gold Boat(R), Season(R) and Guiltless Gourmet(R) brand products. Its B. Manischewitz Company, LLC subsidiary is the nation's largest manufacturer of processed kosher food products including matzos, noodles, crackers, cakes, cookies, soups and processed fish products.