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BP NUTRITION APPOINTS FIRST BOSTON TO ASSIST IN SALE OF PURINA MILLS

 ST. LOUIS, March 4 /PRNewswire/ -- BP Nutrition today announced that it has retained The First Boston Corporation to assist in exploring alternative methods for the sale of Purina Mills, Inc. Purina Mills, a wholly owned subsidiary of BP America, is the largest marketer of animal feeds in the United States.
 BP Nutrition is a subsidiary of the British Petroleum Company (BP). Robin Gourlay, chief executive officer of BP Nutrition said, "This move is part of BP's strategy to implement a managed exit from the Nutrition business. We have decided to begin discussions with industry-based buyers and other financial investors who may be interested in acquiring Purina Mills. Purina Mills, with its excellent management, is an outstanding company with a long history of business growth and performance. Purina Mills' opportunity to continue its growth and industry leadership will be enhanced through a shareholder interested in expanding in the animal nutrition industry in North and South America."
 Purina Mills produces and markets commercial livestock, companion animal and specialty animal feeds under the Purina Mills and PMI Nutrition brands throughout the United States, and under the PMI Feeds brand internationally.
 Edward L. McMillan, president and chief executive officer of Purina Mills, said news of the announcement will have little effect on how the company does business on a day-to-day basis. "We are totally committed to achieving our company's mission and performance expectations. Purina Mills is, and will continue to be, a strong, independent, growth- oriented company. We will continue to maintain our identity, culture and performance standards as America's leader in animal nutrition."
 Purina Mills headquarters are in St. Louis. The company was founded in 1894 and was purchased from the Ralston Purina Company by British Petroleum in 1986. Purina Mills employs over 2,700 people and operates 55 feed mills throughout the United States and an animal nutrition and management research center in Gray Summit, Mo. Its products are sold by an independent network of more than 4,000 dealers throughout the United States.
 -0- 3/4/93
 /CONTACT: Max Fisher of British Petroleum, 314-768-4579/


CO: British Petroleum ST: Missouri IN: SU:

BM -- CL010 -- 2876 03/04/93 10:09 EST
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Publication:PR Newswire
Date:Mar 4, 1993
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