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CONAGRA AND DESC SIGN LETTER OF INTENT TO FORM JOINT VENTURE

 OMAHA, Neb., Jan. 11 /PRNewswire/ -- ConAgra Inc. (NYSE: CAG) today announced it has signed a letter of intent with Desc Sociedad de Fomento Industrial, S.A. de C.V., to acquire a 20-percent interest in Univasa, S.A. de C.V., a Desc subsidiary. ConAgra also would have an option to increase its interest in Univasa to just under 50 percent during the next four years.
 Univasa produces and markets chicken and pork products and animal feeds in Mexico. Univasa's annual sales exceed $185 million.
 Philip B. Fletcher, ConAgra's chairman and chief executive officer, commented, "We are very enthusiastic about this opportunity. Univasa is a successful, growing business. We are particularly pleased to be allied with Desc, one of Mexico's leading companies. ConAgra shares a strategic commitment with Desc to help Univasa grow and to seek new opportunities in the food industry in Mexico."
 Financial terms of the transaction were not disclosed. The transaction is subject to completion of a definitive agreement and review by the Mexican government.
 Headquartered in Mexico City, Desc is Mexico's seventh largest company. Desc has interests in automotive parts, chemicals, agribusiness, real estate, consumer products and financial services. Annual sales were $1.7 billion in 1992.
 ConAgra is a diversified international food company based in Omaha. ConAgra's sales were $21.5 billion in the company's May 1993 fiscal year.
 -0- 1/11/94
 /CONTACT: Walt Casey of ConAgra, 402-595-4154/
 (CAG)


CO: ConAgra Inc.; Desc Sociedad de Fomento Industrial, S.A. de C.V.;
 Univasa, S.A. de C.V. ST: Nebraska IN: FOD SU: JVN


BB -- DV008 -- 1070 01/11/94 14:46 EST
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Publication:PR Newswire
Date:Jan 11, 1994
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