Cutrale-Safra statement regarding Chiquita

Cutrale-Safra confirmed on Wednesday that it has entered into a confidentiality agreement with Chiquita Brands International, Inc. ("Chiquita"). Cutrale-Safra stated that while it is not tied to the timeframe previously disclosed, it will use its best efforts to complete its due diligence and present its definitive offer as expeditiously as possible for Chiquita's consideration.

Cutrale-Safra also stated that, subject to Chiquita making a "Required Amendment" to its proxy materials, Cutrale-Safra will not move proposal 6 (the Cutrale-Safra negotiation proposal) at the October 3 Special Meeting and will seek to obtain proxies for proposal 5 (the Chiquita adjournment proposal) and will change its recommendation relating thereto. The "Requirement Amendment" will be an amendment to Chiquita's proxy materials that contains a commitment by Chiquita that any adjournment it moves for at the October 3 Special Meeting will be either for 14 days or 21 days, at Chiquita's option, except that the adjournment will be for 21 days if Cutrale-Safra so requests.

For more information:
Jeremy Fielding / Ross Lovern
Kekst and Company
Tel: +1 (212) 521-4858/4876
Email: jeremy-fielding@kekst.com
or ross-lovern@kekst.com