Bruce Rohde Quotations

We are seeing a different environment and performance in the second half of the fiscal year compared to the first half, ... Some of the issues that negatively impacted our third quarter will continue to impact the remainder of our fiscal year. We, like many other companies, are watching the effect of a softening economy on our business.

We've seen customers in our industry aggressively reducing inventory balances, so shipment, sales and profits were lower than would be suggested by improved consumer purchases of our products.

Our preliminary findings indicate that certain conduct at UAP circumvented generally accepted accounting practices and violated ConAgra Foods' corporate policy, ... Those actions will not be tolerated.

Our company has weathered one of the most difficult quarters in history, marked by recession and war. The remainder of the fiscal year should benefit from operating improvements currently under way, as well as favorable trends for some of our most important products and brands.

You have to be fast on your feet, ... These people still have to eat.

We are executing better in key areas of our business, and we are also encouraged by the fact that input cost inflation trends for some items are moderating following the significant cost increases we experienced in recent quarters, ... Fiscal 2006 should be a year of solid operating profit performance as we continue to improve our packaged meats operations and make our cost structure more efficient.

Operation Overdrive contributed to our double-digit earnings growth in every quarter of this fiscal year,

For the full fiscal year 1999, we are targeting earnings growth with more promising prospects evident by the year's second half. Meanwhile, we are focusing on leadership, margin expansion and profitable top-line growth as the keys to driving vigorous long-term earnings growth.

You've got good solid operating results in this quarter,