ConAgra/Parkay Introduces the Biggest News Since Its Talking Tub; Parkay Fun Squeeze Brings Product Innovation in a Kid-Friendly Bottle.

Business Editors

DOWNERS GROVE, Ill.--(BUSINESS WIRE)--Oct. 17, 2001

Parkay(R), the brand best known for its talking tub, announced today the launch of a new product that will leave kids and parents tickled pink... or blue. Introducing new Parkay(R) Fun Squeeze(TM), the first-ever squeezable buttery-flavored spread available in "Electric Blue" and "Shocking Pink" colors.

Parkay Fun Squeeze hits stores nationwide in November. The product launch marks one of the biggest new product introductions for Parkay, a brand of ConAgra Dairy Foods, by now squeezing into the increasingly popular category of kid-friendly condiments.

"Parkay developed Fun Squeeze as part of its continued commitment to bring product innovation to the squeezable margarine and spread category," said Rich Scalise, president and CEO for ConAgra Dairy Foods. "Fun Squeeze creates an entirely new segment of squeeze products, bringing kids to the spread section. Given that dynamic, we expect the squeezable spread category could grow as much as 10 percent."

With the introduction of Fun Squeeze, Parkay's future within the squeeze category looks colorful. The 64-year-old brand already sells more than all other squeeze brands combined, and has grown five percent over the past year. In addition, the market for kid-friendly foods continues to boom, while research shows kids influence about $290 billion worth of household purchases(1).

According to parenting author and family interactivity specialist Julie Edelman, kid-friendly condiments also serve an important role at the table. Edelman said including kid-friendly foods and condiments into mealtime gives kids a sense of ownership and control, to help bring them to the table and keep them there.

"Mealtime is often the only chance parents get to spend quality time with their kids, but the hardest step is getting them to the table," said Edelman. "By giving kids their own foods and incorporating fun and creativity into mealtime, kids are more likely to stay engaged and participate in one of the most important times of the day."

Squeezing In Fun, Convenience, Nutrition and Taste

Inspired by the demand for products that are fun, convenient and easy for kids to use, Parkay Fun Squeeze was developed seeking input from parents and kids on the product's color, taste and nutritional value.

According to Scalise, research shows blue and pink were deemed the "coolest colors" by kids and were preferred over other colors tested. In addition, Parkay Fun Squeeze provides 10 percent of the FDA recommended daily intake of calcium and vitamins A, D and E, a benefit preferred by consumers nearly 8 to 1 to a spread with calcium alone(2). Parkay Fun Squeeze has zero trans fatty acids, no cholesterol and the same buttery taste as regular Parkay margarine.

Parkay Fun Squeeze comes in 10-ounce, kid-friendly bottles with convenient features including kid-size squeeze grips for easy handling, as well as a convenient flip-top cap with a smaller spout, designed to control portions and mess.

The introduction of Parkay Fun Squeeze will be supported by national television advertising, in-school sampling programs and national promotions geared toward parents and kids.

Parkay(R), one of America's favorite and most trusted brands since 1937, is part of ConAgra Dairy Foods, a division of ConAgra Foods, Inc. The brand is best known for "Taste That Says Butter" and memorable TV commercials featuring the talking Parkay tub. The ConAgra Dairy Food consumer brands include Blue Bonnet, Fleischmann's, Reddi-wip and Treasure Cave.

(1) USA Today, April 2001

(2) Based on independent Central Location Testing, April 2001