ConAgra Foods Demonstrates Higher-Impact Sponsorship Strategy at 2004 Food Marketing Institute Show.

Business Editors

FMI Show 2004

CHICAGO--(BUSINESS WIRE)--May 3, 2004

New Corporate Emphasis on Sponsorship Marketing to Drive Deeper

Relationships Between Brands and Consumers

ConAgra Foods, Inc. is revealing a new sponsorship-marketing strategy, a strengthened company commitment to focus property-marketing efforts on smart, high-profile initiatives that will resonate more powerfully with core consumers and drive profits to retailers.

The company - one of North America's largest packaged-foods companies - showcased its approach at the 2004 Food Marketing Institute Show here. Immediately, it announced the extension of two major sports contracts: with NASCAR star Bobby Labonte and Joe Gibbs Racing for the Banquet(R) NASCAR Team, and with BMX star Dave Mirra for Slim Jim(R).

"This new property-marketing focus is a key component in our effort to become America's Favorite Food Company," said Mike Hargrave, vice president, sponsorship and event marketing for ConAgra Foods. "The company is investing across our business - not just individual brands - devoting resources and energy into relationships with sports, entertainment, cause and lifestyle properties, so our brands and products will mean even more to the American consumer."

ConAgra Foods' corporate sponsorship and event marketing team will focus on leveraging these partnerships specifically to benefit retailers. Sponsorship investments will be negotiated in a broader way across the company to align with customers' marketing strategies. Sales and brand activation guides will provide integration into the customers' marketing plans. By consolidating efforts into broader platforms, ConAgra Foods will maximize efficiencies in its entertainment-, sports- and lifestyle-marketing deals - especially ensuring that investments occur at the right level to build brand loyalty and drive consumer purchases.

Moving ahead, ConAgra Foods plans to be at the ground floor in aligning new properties with its family of brands in a relevant way among key consumer and customer groups. When it makes sense, the team will leverage these opportunities for multiple brands.

Sponsorship Events at FMI

NASCAR driver Bobby Labonte will appear at ConAgra Foods booth on Monday, where his Banquet No. 19 Chevy paint scheme and his racing plans will be unveiled. He also will conduct live interviews via satellite with major media.

BMX racer Dave Mirra, whose young fans number in the millions, also will make an appearance at the ConAgra Foods booth and conduct media interviews throughout the day on behalf of Slim Jim.

The 2004 FMI Show, being held in the McCormick Place Convention Center in downtown Chicago, is the premier show for supermarket retailers and wholesalers.

ConAgra Foods, Inc. (NYSE:CAG), based in Omaha, Neb., is one of North America's largest packaged-food companies, serving consumer grocery retailers, as well as restaurants and other foodservice establishments. Popular ConAgra Foods consumer brands include: ACT II, Armour, Banquet, Blue Bonnet, Butterball, Chef Boyardee, Cook's, Eckrich, Gulden's, Healthy Choice, Hebrew National, Hunt's, Kid Cuisine, Knott's Berry Farm, La Choy, Louis Kemp, Marie Callender's, Orville Redenbacher's, Parkay, Reddi-wip, Slim Jim, PAM, Pemmican, Peter Pan, Snack Pack, Swiss Miss, Van Camp's, Wesson, and many others. For more information, please visit us at www.conagrafoods.com.