Kerry Group Annual General Meeting

31/05/07 Kerry, the global ingredients, flavours and consumer foods group, stated that a good trading performance to-date in 2007 allows the Group to confirm its overall positive outlook for the year.

Addressing shareholders at the Group’s Annual General Meeting, Hugh Friel, Chief Executive reported a solid overall business performance in the first four months of 2007 and, notwithstanding the recent depreciation of the U.S. dollar versus the euro, he said the Group was confident of delivering an outcome for the full year in line with market expectations.

Mr Friel added, “the Group’s business restructuring programme which commenced in 2006 is now well advanced and our core businesses are well positioned to compete effectively in the markets in which they operate. With growing demand for natural, enhanced nutritional food and beverage products, our ingredients, flavours and bio-science innovation programmes are achieving good progress. In the Group’s Irish and UK consumer foods categories, the increased momentum towards premiumisation and increased demand for ‘food-to-go’ and quality convenient offerings continues to provide good growth opportunities.”