SYSCO to Acquire Certain Assets from the Colorado Boxed Beef Company.

Business Editors

HOUSTON--(BUSINESS WIRE)--March 28, 2003

SYSCO Corporation (NYSE:SYY) today announced it has signed a letter of intent to acquire the specialty meat-cutting division of the Colorado Boxed Beef Company and its affiliated broadline foodservice operation, J&B Foodservice.

The purchase is expected to close by the end of April.

Located in Auburndale, Fla., the Colorado Boxed Beef Company purchases, warehouses, and distributes beef, pork, lamb, poultry, fish, and select dairy products. The net assets SYSCO will acquire generated approximately $76 million in sales for the fiscal year that ended March 31, 2002 and employ approximately 150 people. Howard Halpern, president and chief executive officer of SYSCO's Buckhead Beef subsidiary in Atlanta, will assume the added duties as chairman of the meat-cutting company, which will be known as Buckhead Beef of Florida once the acquisition is completed.

Richard J. Schnieders, SYSCO's chairman and chief executive officer,

said, "Since 1999 we have pursued a successful strategy of enhancing our specialty meat product offerings to include consistent, custom-cut steaks, chops and other protein items. One result of that strategy has been an overwhelming strength and acceptance of our Buckhead Beef and Butcher's Block brands, and the addition of the assets from Colorado Boxed Beef will further strengthen our efforts and our customers' menu offerings throughout the Florida market."

Not included in the purchase are Colorado Boxed Beef's business segments serving cruise lines, retail boxed beef distribution, New Generation irradiated products or its custom distribution unit. These segments will retain the Colorado Boxed Beef corporate identity.

SYSCO, the largest foodservice marketing and distribution organization in North America, generated sales of $24.7 billion for calendar year 2002. The company's 146 distribution locations in the United States and Canada provide food and related products and services to approximately 415,000 restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers. For more information visit the company's home page at www.sysco.com.

Certain statements made herein are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They include statements regarding the timing and expected benefits of the acquisition of certain assets of the Colorado Boxed Beef Company. These statements are based on management's current expectations and estimates; actual results may differ materially due to certain risks and uncertainties. For example, the timing of the acquisition and the ability of the acquired business and SYSCO to achieve expected results may be affected by successful completion of the acquisition, competitive price pressures, availability of supplies, work stoppages, severe weather, successful integration of the acquired operations by the Company, conditions in the economy, industry growth and internal factors, such as the ability to control expenses. For a discussion of additional factors affecting the Company, see the Company's Annual Report on Form 10-K for the fiscal year ended June 29, 2002 as filed with the Securities and Exchange Commission.