Release:     Immediate
Contact:     Scott  Monette
             314/877-7113


                             RALCORP HOLDINGS, INC.
                SELLS WILLIAMS, CALIFORNIA TOMATO PASTE FACILITY


ST.  LOUIS,  MO,  FEBRUARY  4,  2003 Ralcorp Holdings, Inc. (NYSE:RAH) announced
today  that it sold its industrial tomato paste processing facility in Williams,
California  to an affiliate of SK Foods.  The facility was operated by Ralcorp's
Carriage House subsidiary.  SK is based in Lemoore, California and is a producer
of  tomato  paste  and  diced  tomatoes.

Terms  of the transaction were not disclosed.  In Ralcorp's fiscal quarter ended
December  31,  2002, the Company recognized an impairment charge of $5.0 million
related  to  the  Williams facility.  The transaction allows Ralcorp to continue
its  focus  on  manufacturing  private  label  food  products.

Ralcorp  produces  a  variety  of  store  brand  foods  that  are sold under the
individual labels of various grocery, mass merchandise and drug store retailers.
Ralcorp's  diversified  product  mix  includes:  ready-to-eat  and  hot cereals,
crackers  and  cookies,  snack  nuts  and  chocolate  candy,  salad  dressings,
mayonnaise,  peanut  butter,  jams  and jellies, syrups, and various sauces.  In
addition,  Ralcorp  holds  a  21.5  percent  interest  in  Vail  Resorts,  Inc.
(NYSE:MTN),  the  premier  mountain  resort  operator  in  North  America.

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