FOR IMMEDIATE RELEASE


CONAGRA FOODS COMPLETES THE SALE OF UNITED AGRI PRODUCTS

Divestitures Complete Strategic Reshaping of Company; Major Milestone
Accomplished

OMAHA, Neb., November 24, 2003 -- Today ConAgra Foods, Inc. (NYSE: CAG), home of
many famous consumer food brands, completed the previously announced divestiture
of United Agri Products (UAP),  its U.S. and Canadian crop inputs  business,  to
Apollo Management,  L.P. This divestiture  completes the strategic  reshaping of
ConAgra Foods into a branded and value-added packaged foods company.

Transaction Details

For United Agri Products, ConAgra Foods received:

     o    $500 million in cash, and

     o    $60 million in the form of preferred securities.

ConAgra  Foods  expects to receive an  additional  $50  million in cash upon the
completion of the final closing balance sheet within the next few months.

Earlier today, ConAgra Foods announced that it had also completed the previously
announced  divestiture  of its chicken  processing  business to Pilgrim's  Pride
(NYSE:  PPC).  Additional  details  regarding this  announcement are posted in a
question-and-answer    document    located   on   the    company's   Web   site,
www.conagrafoods.com, in the Investor's section.



ConAgra Foods undertook a series of strategic initiatives to reshape the company
to focus on  branded  and  value-added  foods.  Through  a series  of  strategic
portfolio  changes that include the  divestiture of fresh beef, pork and chicken
processing operations, a canned seafood business,  cheese processing businesses,
a  crop  inputs  distribution  business  and  other  smaller  commodity-oriented
businesses,  along with the acquisition of many popular brands,  the company has
concentrated its capital in branded and value-added foods. Today the company has
over 40  favorite  brands  that  serve  consumer  grocery  retailers  as well as
restaurants and other foodservice establishments.

Bruce Rohde,  chairman and chief executive officer of ConAgra Foods,  commented,
"These divestitures complete the strategic reshaping of the company and mark the
beginning  of a new era for  ConAgra  Foods.  ConAgra  Foods  has now  become  a
packaged  food  company with many of America's  favorite  food brands,  and with
higher margin businesses than it had just a few short years ago."

ConAgra Foods,  Inc. (NYSE: CAG) is one of North America's largest packaged food
companies,  serving consumer grocery retailers, as well as restaurants and other
foodservice  establishments.  Popular ConAgra Foods consumer brands include: ACT
II, Armour,  Banquet,  Blue Bonnet, Brown `N Serve,  Butterball,  Chef Boyardee,
Cook's,  Crunch 'n Munch, DAVID, Decker,  Eckrich,  Egg Beaters,  Fleischmann's,
Gulden's,  Healthy Choice, Hebrew National,  Hunt's, Kid Cuisine,  Knott's Berry
Farm, La Choy, Lamb Weston, Libby's,  Lightlife,  Louis Kemp, Lunch Makers, MaMa
Rosa's,  Marie  Callender's,   Manwich,  Orville  Redenbacher's,   PAM,  Parkay,
Pemmican,  Peter Pan, Reddi-wip,  Rosarita,  Ro*Tel, Slim Jim, Snack Pack, Swiss
Miss, Van Camp's,  Wesson,  Wolf, and many others. For more information,  please
visit us at www.conagrafoods.com.

Note on Forward-Looking Statements:

This news release contains  "forward-looking"  statements  within the meaning of
the Private Securities Litigation Reform Act of 1995. These statements are based
on management's  current expectations and are subject to uncertainty and changes
in  circumstances.  Actual  results may vary  materially  from the  expectations
contained in the  forward-looking  statements.  Future  economic  circumstances,
industry conditions, company performance and financial results, availability and
prices of raw materials,  product pricing,  competitive  environment and related
market  conditions,  operating  efficiencies,  access  to  capital,  actions  of
governments and regulatory factors affecting the company's  businesses and other
risks described in the company's  reports filed with the Securities and Exchange
Commission are




examples of factors,  among  others,  that could cause actual  results to differ
materially from those described in the forward-looking  statements.  The company
is under no  obligation to (and  expressly  disclaims  any such  obligation  to)
update  or alter  its  forward-looking  statements  whether  as a result  of new
information, future events, or otherwise.