Hormel Foods Completes Sale of Equipment Manufacturer.

Business Editors

AUSTIN, Minn.--(BUSINESS WIRE)--Sept. 14, 2001

Hormel Foods Corporation (NYSE:HRL) has announced completion of the sale of its Algona Fabrication and Equipment Co. (AFECO) subsidiary in Algona, Iowa.

The company has sold AFECO, a food processing equipment manufacturer, to Cozzini Inc., Chicago, Ill., for an undisclosed amount. Cozzini manufactures a complete line of meat and food processing equipment.

About Hormel Foods Corporation

Hormel Foods, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring quality, value-added brands to the global marketplace. In January 2001, Hormel Foods was named one of "The 400 Best Companies in America" by Forbes magazine. The company enjoys a strong reputation among consumers, retail grocers, foodservice and industrial consumers for products regarded for quality, taste, nutrition, convenience and value.

About Cozzini Inc.

Cozzini of Chicago, Ill., supplies a full line of meat and food processing equipment, including the design and manufacture of stainless steel equipment, such as blenders, mixers, silos and conveyors, emulsion systems and meat and food reduction systems.