Disposal

Glanbia PLC
07 July 2003

7 July 2003



Glanbia plc - sale of UK fresh pork operations



Glanbia plc ('Glanbia' or the 'Group') today announces that it has sold its UK
fresh pork operations, Glanbia Fresh Meats (UK) Limited ('Glanbia Fresh Meats'),
to Flagship Foods Ltd.



Glanbia Fresh Meats is a supplier of fresh pork products to the UK retail sector
and also supplies food manufacturers in the UK, Europe and the Far East.  The
business being sold has two facilities in Tipton and West Bromwich.  Another
smaller pig abattoir in Gainsborough, Lincolnshire owned and operated by Glanbia
Fresh Meats (Drongan) Limited is not part of the transaction and the Group is
putting forward a proposal to cease operations at this site.



At 5 July 2003, the net assets of the business being sold (including goodwill
previously written off against reserves) were approximately £22.3 million (€32.3
million*).  Glanbia expects the sale to result in an exceptional charge of £14.5
million (€21.0 million*) in the current financial year, arising from asset
write-downs and the write back through the profit and loss account of goodwill
previously written off against reserves.



John Moloney, Group Managing Director of Glanbia plc, commented:



'The exit from our UK fresh pork operations represents the continuation of the
transformation of the Group into a focused international company with leading
positions in all of its chosen markets.  We now intend to continue the process
of developing our strong international positions in cheese, nutritional
ingredients and consumer foods with a nutritional emphasis'.



* Exchange rate as of 4 July 2003 : €1.00 = Stg£0.69



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Enquiries to:

UK           Hogarth Partnership            John Olsen                     020 7357 9477
                                            Tom Leatherbarrow

Ireland      Murray Consultants             Jim Milton                     00 353 1 4980300
                                                                           00 353 86 255 8400



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Notes to editors:


Glanbia plc


Glanbia is an international dairy, consumer foods and nutritional products
company.  With a growing reputation for innovation and advanced manufacturing
processes, the Group is one of the world's leading cheese manufacturers and
suppliers of dairy-based nutritional ingredients, as well as being a major
European dairy processor.  Listed on the London and Dublin Stock Exchanges,
Glanbia has a market capitalisation of approximately £320 million (€464
million).



Flagship Foods



Flagship Foods Ltd, is one of the UK's leading meat processors.  The company
comprises Dalehead Foods Ltd, a leading supplier of pork and lamb to major
supermarkets and pigmeat to manufacturers, and Roach Foods Ltd, which produces a
wide range of bacon and cooked meat products for the retail and foodservice
sector.




                      This information is provided by RNS
            The company news service from the London Stock Exchange