NutraCea Announces Name Change to RiceBran Technologies

CEO & President W. John Short commented, "We are pleased to announce our new corporate name - RiceBran Technologies. Coupled with our long-standing tag line - nutrition by nature our new name clearly defines who we are and what we do.

12 Oct 2012 --- NutraCea, a global leader in the production and marketing of value added products derived from rice bran, announced a corporate name change to RiceBran Technologies and the addition of two new members to its Board of Directors.

CEO & President W. John Short commented, "We are pleased to announce our new corporate name - RiceBran Technologies. Coupled with our long-standing tag line - nutrition by nature our new name clearly defines who we are and what we do. Earlier this year we completed a three-year portfolio transformation from a multi-divisional business operator to complete focus on our Rice Bran Bio-Refining business model. RiceBran Technologies aptly describes our focused approach to that rice bran-centric business model."

"We are also pleased to announce the appointment of two new and highly qualified members to our Board of Directors. Robert C. Schweitzer, current Chairman of the Board of Directors of NASDAQ listed PetMed Express Inc., has joined our Board. Bob has been appointed to serve on several board committees including our Executive, Compensation, Nominating & Governance and Audit Committees. In addition to his public company board experience, Bob brings a wealth of knowledge and contacts from a career in the financial services industry, most recently as President and CEO of Shay Investment Services and as Chairman of the Board of Directors of Anthem Bank & Trust, a multi-state banking operator."

"David Goldman has also joined our Board of Directors and has agreed to act as Chairman of our Audit Committee. David brings audit, SOX and regulatory experience based on his 35-year career at Deloitte & Touche, 24 of which he was a partner primarily serving SEC clients and managing the Arizona audit practice. David also brings important public company board experience, including acting as Chairman of the Audit Committee of then publicly listed Swift Transportation Company. David will also serve as a member of the Executive and Compensation Committees."

Mr. Short added, "In addition to welcoming Bob and David to our Board, I want to offer special thanks to John Quinn, who served as Chairman of our Audit Committee for the past 2.5 years. John provided strong leadership and critical guidance that helped our management team successfully complete a complex restructuring while significantly improving our financial reporting and internal controls. John remains a member of the RiceBran Technologies Board."