Bunge Breaks Ground on Shortening & Oil Research Center; New Facility Will Unite North and South American R&D Operations.

Business Editors

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Nov. 15, 2001

Bunge Limited (NYSE: BG) has broken ground on a multi-million dollar shortening and oil research and development center in Bradley, IL.

The facility, which is being built through a joint effort of Bunge North America and Bunge Alimentos, the Company's North American and Brazilian agribusiness and food products subsidiaries, will centralize Bunge's research efforts in the shortening and oil sector of the value-added, global food product industry.

The center, to be called Bunge's "Oil Center of Excellence", will be located at the existing Bradley, IL manufacturing complex of Bunge Foods, Bunge North America's edible oil and bakery product unit. Construction of the 19,000-sq. ft. facility is expected to be completed in August 2002. New scientists will join an existing team of Bunge researchers to staff the facility.

"The Oil Center of Excellence is an example of how Bunge is moving to create greater synergies among our businesses and leverage the expertise that exists within our company on a global basis," stated Alberto Weisser, Chairman and CEO of Bunge Limited. "The center will combine the scientific knowledge and skill base of our North and South American shortening and oil businesses, and will enable Bunge to develop products that will provide significant value to our customers in a variety of food and non-food industries."

Scientists and technicians from Bunge Limited's North and South American operations will collaborate at the new facility to tailor products to the demands of important regional markets around the world. They will pursue research on a wide range of technologies that include fractionation and interesterification, as well as non-food applications for vegetable oils.

"This research facility will enable our international team of food scientists to engage in cutting edge basic lipid research that is expected to revolutionize the functional performance of shortenings and oils for Bunge customers on a worldwide basis," stated John Klein, President and CEO of Bunge North America.

Initially, Bunge processing facilities in both North and South America will focus on manufacturing and marketing food applications developed at the center to the food processing, foodservice and baking industries.

About Bunge North America

Bunge North America (www.bungenorthamerica.com) is a vertically integrated food and feed ingredient company, supplying raw and processed agricultural commodities and specialized food ingredients to a wide range of customers in the livestock, poultry, food processor, foodservice and bakery industries. With headquarters in St. Louis, Missouri, Bunge North America and its subsidiaries operate grain elevators, grain and oilseed processing plants, edible oil refineries and food processing facilities in the U. S., Canada and Mexico.

About Bunge Limited

Bunge Limited (www.bunge.com) is an integrated, global agribusiness and food company operating in the farm-to-consumer food chain with primary operations in North and South America and worldwide distribution capabilities. Headquartered in White Plains, New York, Bunge has over 17,000 employees and operations in 17 countries. The Company is the largest processor of soybeans in the Americas and the largest producer and supplier of fertilizers to farmers in Latin America.

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