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Fyffes PLC (FFY)

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Tuesday 01 October, 2002

Fyffes PLC


Fyffes PLC
01 October 2002

                         Stock Exchange Announcement
                                 Fyffes plc

                    Fyffes makes US$30 million acquisition

Fyffes plc, Europe's leading fresh produce company, has entered into an
agreement with Del Monte Fresh Produce (Hamburg) GmbH to acquire 80% of
Internationale Fruchtimport Gesellschaft Weichert & Co. KG ('INTER') based in
Hamburg, Germany

The consideration for the transaction is US$30 million in cash to be paid on
completion. The transaction is subject to certain conditions precedent,
principally antitrust clearances. The remaining 20% of INTER not included in the
sale is owned by the Weichert family who have managed and developed the business
for over 50 years.

Commenting on the transaction, Neil McCann, Chairman of Fyffes plc said: 'We are
pleased to become long-term partners of the Weichert family whom we have known
and held in high regard for many years. We are also pleased that we were able to
agree a transaction that was helpful in enabling Del Monte and INTER to achieve
their respective goals. This acquisition is an important further step for Fyffes
in developing its business.'

INTER is an importer and distributor of bananas, pineapples and other fresh
fruit and produce primarily into Northern and Central Europe, serving both the
retail and wholesale sectors. For the year ended 31 December 2001, INTER
reported turnover of €137 million and profits before tax of €4 million.  Fyffes
share of INTER's tangible net assets at completion is expected to amount to €5.9
million. Fyffes expects the transaction to be earnings enhancing from the date
of acquisition.

01 October 2002

For further information please contact:

            Mary Finan, Wilson Hartnell PR            Tel: + 353 1 669 0030

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