Unilever Completes Sale of Frozen Meals Portfolio in North America

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20/08/2012

London & Rotterdam - Aug. 20 2012 - Unilever today announced that it has completed the sale of its North America frozen meals business, conducted under the Bertolli and P.F. Chang's brand names, to ConAgra Foods, Inc., for total cash consideration of $267 million, subject to adjustment.

Under the terms of the transaction, Unilever licensed the Bertolli brand name to ConAgra Foods for use in the frozen meals business and transferred its existing license with P.F. Chang's for use of the P.F. Chang's Home Menu brand name. Unilever will retain the Bertolli trademark and continue manufacturing Bertolli pasta sauce at its Owensboro, Ky., facility.

About Unilever North America:

Unilever is one of the world's leading suppliers of fast moving consumer goods with strong operations in more than 100 countries and sales in 190. With products that are used over two billion times a day around the world, we work to create a better future every day and help people feel good, look good and get more out of life with brands and services that are good for them and good for others. In the United States and Canada the portfolio includes brand icons such as: Axe, Becel, Ben & Jerry's, Bertolli, Breyers, Caress, Clear Scalp & Hair Therapy, Consort For Men, Country Crock, Degree, Dove personal care products, fds, Good Humor, Hellmann's, I Can't Believe It's Not Butter!, Just for Me!, Klondike, Knorr, Lever 2000, Lipton, Magnum, Motions, Nexxus, Noxzema, Pond's, Popsicle, Promise, Q-tips, Ragu, Simple, Skippy, Slim-Fast, Soft & Beautiful, St. Ives, Suave, tcb, TIGI, TRESemmé, Vaseline, and Wish-Bone. All of the preceding brand names are trademarks or registered trademarks of the Unilever Group of Companies. Dedicated to serving consumers and the communities where we live, work and play, Unilever employs more than 13,000 people across North America -generating over $9 billion in sales in 2011. For more information visit www.unileverusa.com or www.unilever.ca.

About ConAgra Foods, Inc.:

ConAgra Foods, Inc., (NYSE: CAG), is one of North America's leading food companies, with brands in 97 percent of America's households. Consumers find Banquet, Chef Boyardee, Egg Beaters, Hebrew National, Hunt's, Marie Callender's, Orville Redenbacher's, PAM, Peter Pan, Reddi-wip, Slim Jim, Snack Pack and many other ConAgra Foods brands in grocery, convenience, mass merchandise and club stores. ConAgra Foods also has a strong business-to-business presence, supplying frozen potato and sweet potato products as well as other vegetable, spice and grain products to a variety of well-known restaurants, foodservice operators and commercial customers. For more information, please visit us at http://www.conagrafoods.com.

Safe Harbour

This announcement may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as 'expects', 'anticipates', 'intends', 'believes' or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including, among others, competitive pricing and activities, economic slowdown, industry consolidation, access to credit markets, recruitment levels, reputational risks, commodity prices, continued availability of raw materials, prioritisation of projects, consumption levels, costs, the ability to maintain and manage key customer relationships and supply chain sources, consumer demands, currency values, interest rates, the ability to integrate acquisitions and complete planned divestitures, the ability to complete planned restructuring activities, physical risks, environmental risks, the ability to manage regulatory, tax and legal matters and resolve pending matters within current estimates, legislative, fiscal and regulatory developments, political, economic and social conditions in the geographic markets where the Group operates and new or changed priorities of the Boards. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including the Group's Annual Report on Form 20-F for the year ended 31 December 2010. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.