10-Q

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

[ X ]    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

                 For the period ended:   July 4, 2003

                                       OR

[   ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

                        For the transition period from          to

                        Commission file number: 001-13403

                         American Italian Pasta Company
             (Exact name of Registrant as specified in its charter)


                Delaware                                  84-1032638
      (State or other jurisdiction of                  (I.R.S. Employer
       incorporation or organization)                 Identification No.)

4100 N. Mulberry Drive, Suite 200, Kansas City, Missouri           64116
 (Address of principal executive office)                         (Zip Code)

       Registrant's telephone number, including area code: (816) 584-5000


- --------------------------------------------------------------------------------
             (Former name, former address and former fiscal year, if
                           changed since last report)

         Indicate by check mark whether the Registrant has (1) filed all
documents and reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the Registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days. Yes [X] No [  ]

         Indicate by check mark whether the Registrant is an accelerated filer
(as defined in Rule 12b-2 of the Exchange Act). Yes [X] No [ ]

         The number of shares outstanding as of August 15, 2003 of the
Registrant's Class A Convertible Common Stock was 17,903,723 and there were no
shares outstanding of the Class B Common Stock.





                                     Page 1

                         American Italian Pasta Company
                                    Form 10-Q
                           Quarter Ended June 30, 2003


                                Table of Contents


Part I - Financial Information                                                   Page

         Item 1.           Financial Statements (unaudited)

                           Consolidated Balance Sheets at June 30, 2003 and
                           September 30, 2002.                                      3

                           Consolidated Statements of Income for the three
                           months ended June 30, 2003 and 2002.                     4

                           Consolidated Statements of Income for the nine
                           months ended June 30, 2003 and 2002.                     5

                           Consolidated Statement of Stockholders' Equity
                           for the nine months ended June 30, 2003.                 6

                           Consolidated Statements of Comprehensive Income
                           for the three months ended June 30, 2003 and 2002.       7

                           Consolidated Statements of Comprehensive Income
                           for the nine months ended June 30, 2003 and 2002.        8
                           Consolidated Statements of Cash Flows for the nine
                           months ended June 30, 2003 and 2002.                     9

                           Notes to Consolidated Financial Statements              10


         Item 2.           Management's Discussion and Analysis of
                           Financial Condition and Results of Operations           13

         Item 3.           Quantitative and Qualitative Disclosures About
                           Market Risk                                             21

         Item 4.           Controls and Procedures                                 22

Part II - Other Information

         Item 1.           Legal Proceedings                                       22

         Item 2.           Changes in Securities                                   22

         Item 3.           Defaults Upon Senior Securities                         22

         Item 4.           Submission of Matters to a Vote of Security Holders     22

         Item 5.           Other Information                                       22

         Item 6.           Exhibits and Reports on Form 8-K                        22


Signature Page                                                                     23



                                     Page 2

                         PART I - FINANCIAL INFORMATION
             Item 1 - Consolidated Financial Statements (Unaudited)

                         AMERICAN ITALIAN PASTA COMPANY
                           Consolidated Balance Sheets
                                                                              June 30,2003    Sept. 30, 2002
                                                                              ------------    --------------
                                                                                        (In thousands)
Assets                                                                                    (Unaudited)
Current assets:
   Cash and temporary investments                                                 $6,624          $8,247
   Trade and other receivables                                                    44,151          46,463
   Prepaid expenses and deposits                                                  11,159          11,282
   Inventory                                                                      73,881          49,720
   Deferred income taxes                                                           2,420           2,420
                                                                                   -----           -----
Total current assets                                                             138,235         118,132
Property, plant and equipment:
     Land and improvements                                                        13,742          11,061
     Buildings                                                                   131,809         111,041
     Plant and mill equipment                                                    354,426         312,092
     Furniture, fixtures and equipment                                            24,963          15,509
                                                                                  ------          ------
                                                                                 524,940         449,703
     Accumulated depreciation                                                   (116,806)        (99,607)
                                                                                --------         -------
                                                                                 408,134         350,096
     Construction in progress                                                     16,330          45,844
                                                                                  ------          ------
Property, plant and equipment, net                                               424,464         395,940
Intangible assets                                                                179,420         119,360
Other assets                                                                      10,149           7,177
                                                                                  ------           -----
Total assets                                                                    752,268         $640,609
                                                                                ========        ========

Liabilities and stockholders' equity
Current liabilities:
     Accounts payable                                                           $ 38,092        $ 21,320
     Accrued expenses                                                             12,583          11,359
     Income tax payable                                                            1,050           1,585
     Current maturities of long-term debt                                          4,897           4,279
                                                                                   -----           -----
Total current liabilities                                                         56,622          38,543
Long-term debt                                                                   314,387         258,193
Deferred income taxes                                                             56,203          46,767
Commitments and contingencies
Stockholders' equity:
   Preferred stock, $.001 par value:
         Authorized shares - 10,000,000                                               --              --
          Issued and outstanding shares - none
     Class A common stock, $.001 par value:
         Authorized shares - 75,000,000                                               20              20
         Issued and outstanding shares - 19,894,341 and
         17,872,962 at June 30, 2003 and 19,676,857 and
         18,021,876 at September 30, 2002
     Class B common stock, $.001 par value:
          Authorized shares - 25,000,000                                              --              --
          Issued and outstanding shares - none
     Additional paid-in capital                                                  222,112         213,671
     Treasury stock                                                              (46,513)        (34,394)
     Unearned compensation                                                          (618)           (940)
     Retained earnings                                                           151,689         121,862
   Accumulated other comprehensive loss                                           (1,634)         (3,113)
                                                                                  ------          ------
Total stockholders' equity                                                       325,056         297,106
                                                                                 -------         -------
Total liabilities and stockholders' equity                                      $752,268        $640,609
                                                                                ========        ========


          See accompanying notes to consolidated financial statements.


                                     Page 3

                         AMERICAN ITALIAN PASTA COMPANY

                        Consolidated Statements of Income

                                                                               Three Months Ended
                                                                                     June 30,
                                                                               2003           2002
                                                                               ----           ----
                                                                                  (In thousands,
                                                                              except per share data)
                                                                                    (Unaudited)


Revenues                                                                    $104,302       $ 91,773
Cost of goods sold                                                            67,861         59,283
                                                                              ------         ------
Gross profit                                                                  36,441         32,490
Selling and marketing expense                                                 12,217         10,841
General and administrative expense                                             3,484          2,811
                                                                               -----          -----
Operating profit                                                              20,740         18,838
Interest expense, net                                                          2,764          2,161
                                                                               -----          -----
Income before income tax expense                                              17,976         16,677
Income tax expense                                                             5,942          5,670
                                                                               -----          -----
Net income                                                                  $ 12,034       $ 11,007
                                                                            ========       ========

Earnings Per Common Share:

    Net income per common share                                                $ .67          $ .61
                                                                               =====          =====

    Weighted-average common shares outstanding                                17,838         17,969
                                                                              ======         ======

Earnings Per Common Share - Assuming Dilution:

    Net income per common share assuming dilution                              $ .65          $ .59
                                                                               =====          =====

    Weighted-average common shares outstanding                                18,594         18,806
                                                                              ======         ======



          See accompanying notes to consolidated financial statements.



                                     Page 4

                         AMERICAN ITALIAN PASTA COMPANY

                        Consolidated Statements of Income

                                                                                      Nine Months Ended
                                                                                          June 30,
                                                                                   2003           2002
                                                                                   ----           ----
                                                                                       (In thousands,
                                                                                   except per share data)
                                                                                         (Unaudited)


Revenues                                                                         321,990      $ 278,619
Cost of goods sold                                                               216,691        179,568
                                                                                 -------        -------
Gross profit                                                                     105,299         99,051
Selling and marketing expense                                                     38,553         37,482
General and administrative expense                                                 9,841          8,997
Provision for acquisition and plant start-up expenses                              4,939             --
                                                                                   -----          -----
Operating profit                                                                  51,966         52,572
Interest expense, net                                                              7,440          7,139
                                                                                   -----          -----
Income before income tax expense                                                  44,526         45,433
Income tax expense                                                                14,699         15,515
                                                                                  ------         ------
Net income                                                                       $29,827        $29,918
                                                                                 =======        =======

Earnings Per Common Share:

    Net income per common share                                                   $ 1.68         $ 1.68
                                                                                  ======         ======

    Weighted-average common shares outstanding                                    17,800         17,824
                                                                                  ======         ======

Earnings Per Common Share - Assuming Dilution:

    Net income per common share assuming dilution                                 $ 1.61         $ 1.60
                                                                                  ======         ======

    Weighted-average common shares outstanding                                    18,474         18,671
                                                                                  ======         ======



          See accompanying notes to consolidated financial statements.


                                     Page 5

                         AMERICAN ITALIAN PASTA COMPANY

                 Consolidated Statement of Stockholders' Equity

                                                                                          Nine months ended
                                                                                            June 30, 2003
                                                                                         ---------------------
                                                                                           (In thousands)
                                                                                             (unaudited)
Class A Common Shares
  Balance, beginning of period                                                                    19,677
  Issuance of shares of Class A Common stock to option holders & other issuances                     217
                                                                                                     ---
  Balance, end of period                                                                          19,894
                                                                                                  ======

Class A Common Stock
  Balance, beginning and end of period                                                             $  20
                                                                                                   =====

Additional Paid-in Capital
  Balance, beginning of period                                                                  $213,671
  Issuance of shares of Class A Common stock to option holders
     & other issuances                                                                             7,654
  Tax benefit from stock compensation                                                                787
                                                                                               ---------
  Balance, end of period                                                                       $ 222,112
                                                                                               =========

Treasury Stock
  Balance, beginning of period                                                                 $ (34,394)
  Purchase of treasury stock                                                                     (12,119)
                                                                                               ---------
  Balance, end of period                                                                       $ (46,513)
                                                                                               =========

Unearned Compensation
  Balance, beginning of period                                                                    $ (940)
  Cancellation of common stock                                                                       250
  Issuance of common stock                                                                          (142)
  Earned compensation                                                                                214
                                                                                                  ------
  Balance, end of period                                                                          $ (618)
                                                                                                  ======

Other Comprehensive Income (Loss)
  Foreign currency translation adjustment
     Balance, beginning of period                                                                $(1,611)
     Change during the period                                                                      3,923
                                                                                                 -------
     Balance, end of period                                                                      $ 2,312
                                                                                                 -------

  Interest rate swaps fair value adjustment
     Balance, beginning of period                                                                $(1,502)
     Change during the period                                                                     (2,444)
                                                                                                  ------
     Balance, end of period                                                                      $(3,946)
                                                                                                 -------

  Total accumulated other comprehensive loss                                                     $(1,634)
                                                                                                 =======

Retained Earnings
  Balance, beginning of period                                                                 $ 121,862
  Net income                                                                                      29,827
                                                                                               ---------
  Balance, end of period                                                                       $ 151,689
                                                                                               =========

Total Stockholders' Equity                                                                     $ 325,056
                                                                                               =========



          See accompanying notes to consolidated financial statements.


                                     Page 6

                         AMERICAN ITALIAN PASTA COMPANY

                 Consolidated Statements of Comprehensive Income


                                                                     Three months ended June 30,
                                                                    2003                     2002
                                                                    ----                     ----
                                                                           (In thousands)
                                                                             (unaudited)


Net income                                                         $12,034             $11,007

Other comprehensive income

  Net unrealized losses on qualifying cash flow hedges (net of
    income tax benefit of $514 and $553, respectively)              (1,043)             (1,124)

  Foreign currency translation adjustment (net of income tax
    expense of $935 and $662, respectively)                          1,900               1,345
                                                                     -----               -----

  Total other comprehensive income                                     857                 221
                                                                       ---                ----

  Comprehensive income                                            $ 12,891            $ 11,228
                                                                  ========            ========



          See accompanying notes to consolidated financial statements.

                                     Page 7

                         AMERICAN ITALIAN PASTA COMPANY

                 Consolidated Statements of Comprehensive Income


                                                                   Nine months ended June 30,
                                                                      2003           2002
                                                                      ----           ----
                                                                       (In thousands)
                                                                           (unaudited)


Net income                                                          29,827        $ 29,918

Other comprehensive income

  Net unrealized losses on qualifying cash flow hedges (net of
    income tax benefit of $1,204 and $592, respectively)            (2,444)         (1,202)

  Foreign currency translation adjustment (net of income tax
    expense of $1,932 and $636, respectively)                        3,923           1,292
                                                                     -----           -----

  Total other comprehensive income                                   1,479              90
                                                                     -----              --

  Comprehensive income                                             $31,306         $30,008
                                                                   =======          =======



          See accompanying notes to consolidated financial statements.

                                     Page 8

                         AMERICAN ITALIAN PASTA COMPANY

                      Consolidated Statements of Cash Flows

                                                                            Nine Months Ended
                                                                                 June 30,
                                                                            2003          2002
                                                                            ----          ----
                                                                              (In thousands)
                                                                                (Unaudited)


Operating activities:
Net income                                                                $ 29,827    $ 29,918
Adjustments to reconcile net income to net cash provided by operations:
    Depreciation and amortization                                           18,164      15,156
    Deferred income tax                                                     12,885      10,073
    Changes in operating assets and liabilities:
           Trade and other receivables                                       2,670      (2,153)
           Prepaid expenses and deposits                                      (264)      1,977
           Inventory                                                       (20,771)    (12,634)
           Accounts payable and accrued expenses                            14,510      (7,936)
           Income tax payable                                                    3       4,951
           Other                                                            (1,690)       (869)
                                                                          --------    --------
Net cash provided by operating activities                                   55,334      38,483

Investing activities:
Purchase of pasta brands                                                   (57,583)     (1,366)
Additions to property, plant and equipment                                 (35,752)    (48,979)
Other                                                                         --        (2,000)
                                                                          --------    --------
Net cash used in investing activities                                      (93,335)    (52,345)

Financing activities:
Additions to deferred debt issuance costs                                   (1,106)       --
Proceeds from issuance of debt                                              78,968      39,473
Principal payments on debt and capital lease obligations                   (32,972)    (27,537)
Proceeds from issuance of common stock, net of
   issuance costs                                                            2,756       5,628
Purchases of treasury stock                                                (12,119)       --
                                                                          --------    --------
Net cash provided by financing activities                                   35,527      17,564
Effect of exchange rate changes on cash                                        851          29
                                                                          --------    --------
Net (decrease) increase in cash and temporary investments                   (1,623)      3,731

Cash and temporary investments at beginning of period                        8,247       5,284
                                                                          --------    --------
Cash and temporary investments at end of period                           $  6,624    $  9,015
                                                                          ========    ========


          See accompanying notes to consolidated financial statements.

                                     Page 9

                         AMERICAN ITALIAN PASTA COMPANY
                   Notes to Consolidated Financial Statements

                                  June 30, 2003


1.   Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared
in accordance with accounting principles generally accepted in the United States
for interim financial information and with the instructions to Form 10-Q and
Article 10 of Regulation S-X. Accordingly, they do not include all of the
information and footnotes required by accounting principles generally accepted
in the United States for complete financial statements. In the opinion of
management, all adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included. Operating results for the
three and nine-month periods ended June 30, 2003 are not necessarily indicative
of the results that may be expected for the year ended September 30, 2003. These
financial statements should be read in conjunction with the consolidated
financial statements and footnotes thereto and management's discussion and
analysis thereof included in the Company's Annual Report on Form 10-K for the
year ended September 27, 2002 and management's discussion and analysis included
in Item 2 hereof.

American Italian Pasta Company (the "Company" or "AIPC") uses a 52/53-week
financial reporting cycle with a fiscal year which ends on the last Friday of
September or the first Friday of October. The Company's first three fiscal
quarters end on the Friday last preceding December 31, March 31, and June 30 or
the first Friday of the following month. For purposes of this Form 10-Q, the
first fiscal quarter of fiscal year 2003 included 14 weeks of activity and
fiscal 2002 included 13 weeks of activity and are included in the nine-month
periods ended June 30, 2003 and 2002. The actual period end date was July 4,
2003.

Reclassifications

Certain amounts within the prior period financial statements have been
reclassified to conform to the current period presentation.

Inventories

Inventories are stated using product specific standard costs which approximate
the lower of cost or market determined on a first-in, first-out (FIFO) basis.
Inventories consist of the following:

                                                           June 30,  September 30,
                                                             2003        2002
                                                             ----        ----
                                                             (In thousands)
Finished goods                                             $60,192     $38,881
 Raw materials, packaging materials and  work-in-process    13,689      10,839
                                                           -------     -------
                                                           $73,881     $49,720
                                                           =======     =======

2.   Stock Options/Earnings Per Share

A summary of the Company's stock option activity:

                                                     Number of Shares
                                                     ----------------
         Outstanding at September 30, 2002                2,665,821
            Exercised                                      (107,104)
            Granted                                         397,500
            Canceled/Expired                                (88,852)
                                                           --------
         Outstanding at June 30, 2003                     2,867,365
                                                          =========


                                    Page 10

Dilutive securities, consisting of options to purchase the Company's Class A
common stock, included in the calculation of diluted weighted average common
shares were 756,000 and 674,000 shares for the three-month and nine-month
periods ended June 30, 2003, respectively, and 837,000 and 847,000 shares for
the three-month and nine-month periods ended June 30, 2002, respectively.

Pro forma information regarding net income and earnings per share has been
determined as if the Company had accounted for its employee stock options under
the fair value method of Statement of Financial Accounting Standards (SFAS) No.
123, "Accounting for Stock-Based Compensation".

For purposes of pro forma disclosures, the estimated fair value of the options
is amortized to expense over the options' vesting period. The Company's pro
forma information follows (in thousands except for earnings per share
information):


                                             Three months ended      Nine months ended
                                                    June 30,             June 30,
                                                2003      2002       2003         2002
                                             ---------   -------    -------    ---------

Net income, as reported                      $ 12,034   $ 11,007   $ 29,827   $   29,918
Deduct: Total stock-based employee
     compensation expense determined under
     fair value based method for all
     awards, net of related tax effects        (1,193)      (751)    (4,443)      (2,136)
                                             --------   --------   --------   ----------

Pro forma net income                         $ 10,841   $ 10,256   $ 25,384   $   27,782
                                             ========   ========   ========   ==========

Earnings per share:
     Basic - as reported                     $    .67   $    .61   $   1.68   $     1.68
                                             ========   ========   ========   ==========
     Basic - pro forma                       $    .61   $    .57   $   1.43   $     1.56
                                             ========   ========   ========   ==========

     Diluted - as reported                   $    .65   $    .59   $   1.61   $     1.60
                                             ========   ========   ========   ==========
     Diluted - pro forma                     $    .58   $    .55   $    .37   $     1.49
                                             ========   ========   ========   ==========



3. Continued Dumping and Subsidy Offset Act of 2000

On October 28, 2000, the U.S. government enacted the "Continued Dumping and
Subsidy Offset Act of 2000" (the "Act") which provides that assessed
anti-dumping and subsidy duties liquidated by the Department of Commerce after
October 1, 2000 will be distributed to affected domestic producers. Accordingly,
in December 2002 and 2001, AIPC received payments from the Department of
Commerce in the amounts of $2.4 million and $7.6 million, respectively, as the
Company's calculated share, based on tariffs liquidated by the government from
October 1, 2000 to September 30, 2002 on Italian and Turkish imported pasta.

According to Congressional documents, these payments to affected U.S. producers
are for the purpose of maintaining jobs and investments that might be affected
through unfair trade practices, and to offset revenues lost through foreign
companies' dumping practices and foreign governments' subsidy practices. There
are no specific requirements on how the funds are to be used by the Company
other than the funds are intended to benefit future periods. In 2002, the
Company used a significant portion to increase investment in brand building
activities (for example, slotting to expand or recapture distribution and
consumer promotion reinforcing the long-term quality tradition of the Company's
brands), and continued strengthening of the Company's organization.


                                    Page 11

The Company recognizes the receipts from the Department of Commerce as revenue
ratably over the related fiscal year, which patterns the program year under
which the payments were received. Accordingly, the Company expects to recognize
an additional 25%, or $.6 million, in the next quarter of the current fiscal
year.

It is the Company's understanding that overpayments under this program may be
recovered by U.S. Customs for a number of reasons up to one year after payment
is made. For this reason and to match the revenue received with the incremental
expenditures made under the program in 2002, the Company recognizes the receipt
ratably over the current fiscal year. In July 2003, the Company repaid U.S.
Customs approximately $80,000 pursuant to a reclamation request.

The legislation creating the dumping and subsidy offset payment (referred to as
the Byrd Amendment) provides for annual payments from the U.S. government.
However, it is not possible to reasonably estimate the potential amount, if any,
to be received in future periods.


4.   Brand Acquisitions

On October 2, 2002, the Company announced the purchase of the Martha Gooch and
LaRosa pasta brands from ADM in the United States and the Lensi pasta brand from
Pastificio Lensi of Vinci, Italy for an approximate total of $9.5 million,
including trade liabilities. The Pastificio Lensi transaction was completed
prior to the fiscal year ended September 27, 2002, and the Martha Gooch and
LaRosa transactions were completed in early October 2002. No manufacturing
assets were included in the transactions.

On January 31, 2003, the Company purchased the Golden Grain/Mission pasta brand
plus inventory from PepsiCo for approximately $46 million. No significant
manufacturing assets were included in the transaction. Additional costs
associated with this acquisition may be incurred.

On February 27, 2003, the Company purchased the Mrs. Leeper's specialty pasta
business for 100,000 shares of AIPC common stock plus a cash earn out tied to
sale and profit growth over the next three years.

5.   Stock Repurchase Plan

In November 2002, the Company's Board of Directors authorized up to $20 million
to implement a common stock repurchase plan. The Company purchased 366,398
shares for $12,119,000, at prices ranging from $32.52 to $34.45 per share during
the nine months ended June 30, 2003.


6.   Amendment to Credit Facility

On December 13, 2002, the Company completed an amendment to its revolving credit
facility. The amendment provides the Company with an additional $100 million
term loan capacity. The terms of the original credit facility provide commitment
reductions of $110 million between October 1, 2002 and October 1, 2005. The
additional term loan capacity is nearly sufficient to offset the cumulative
annual reductions in credit availability required by the original credit
facility. The original terms of the facility remain generally the same.



                                    Page 12

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

The discussion set forth below, as well as other portions of this Quarterly
Report, contains statements concerning potential future events. Such
forward-looking statements are based upon assumptions by our management, as of
the date of this Quarterly Report, including assumptions about risks and
uncertainties faced by AIPC. Readers can identify these forward-looking
statements by their use of such verbs as expects, anticipates, believes or
similar verbs or conjugations of such verbs. If any of our assumptions prove
incorrect or should unanticipated circumstances arise, our actual results could
materially differ from those anticipated by such forward-looking statements. The
differences could be caused by a number of factors or combination of factors
including, but not limited to, those factors identified in our Annual Report on
Form 10-K filed on December 20, 2002. That report has been filed with the
Securities and Exchange Commission (the "SEC" or the "Commission") in
Washington, D.C. and can be obtained by contacting the SEC's public reference
operations or obtaining it through the SEC's web site on the World Wide Web at
http://www.sec.gov. Readers are strongly encouraged to consider those factors
when evaluating any such forward-looking statement. We will not update any
forward-looking statements in this Quarterly Report to reflect future events or
developments.

Results of Operations

Overview

We are the largest producer and one of the fastest-growing major marketers of
dry pasta in North America. We began operations in 1988 with the introduction of
new, highly efficient durum wheat milling and pasta production technology. We
believe our singular focus on pasta, our vertically-integrated facilities and
highly efficient production facilities focused primarily on specific market
segments, and our highly skilled workforce make us a more efficient company and
enable us to produce high-quality pasta at very competitive costs. We believe
that the combination of our low cost structure, the addition of several new
brands to our portfolio of brands, our scalable production facilities, and our
key customer relationships create significant opportunity for continued growth.

We generate revenues in two customer markets: retail and institutional. Retail
market revenues include the revenues from sales of our pasta products to
customers who resell the pasta in retail channels. These revenues represented
75% of our total revenue for the nine months ended June 30, 2003 and 2002, and
include sales to club stores and grocery retailers, and encompass sales of our
private label and branded products. Institutional market revenues include
revenues from product sales to customers who use our pasta as an ingredient in
food products or who resell our pasta in the foodservice market. It also
includes revenues from opportunistic sales to government agencies and other
customers that we pursue periodically when capacity is available to increase
production volumes and thereby lower average unit costs. The institutional
market represented 25% of our total revenue for the nine months ended June 30,
2003 and 2002. Average sales prices in the retail and institutional markets vary
depending on customer-specific packaging and raw material requirements, product
manufacturing complexity and other service requirements. Average retail and
institutional prices will also vary due to changes in the relative share of
customer revenues and item specific sales volumes (i.e., product sales mix).
Generally, average retail sales prices are higher than institutional sales
prices. Selling prices of our branded products are significantly higher than
selling prices in our other business units including private label. This results
in higher revenues, gross profits, and gross margin percentages than our
non-branded businesses. Revenues are reported net of cash discounts and product
returns.


                                    Page 13

We seek to develop strategic customer relationships with food industry leaders
that have substantial pasta requirements. We have a supply agreement with Sysco
which was renewed for an additional three years in the third quarter of fiscal
2003, and other arrangements with food industry leaders, such as Sam's Club,
that provide for the "pass-through" of direct material cost changes as pricing
adjustments. The pass-throughs are generally limited to actual changes in cost
and, as a result, impact percentage profitability in periods of changing costs
and prices. The pass-throughs are generally effective 30 to 90 days following
such cost changes and thereby significantly reduce the long-term exposure of our
operating results to the volatility of raw material costs. These pass-through
arrangements also require us to pass on the benefits of any price decrease in
raw material costs.

Our cost of goods sold consists primarily of raw materials, packaging,
manufacturing (including depreciation) and distribution costs. A significant
portion of our cost of goods sold is durum wheat. We purchase durum wheat on the
open market and, consequently, those purchases are subject to fluctuations in
cost. We manage our durum wheat cost risk through durum wheat cost
"pass-through" agreements in long-term contracts and other noncontractual
arrangements with our customers and advance purchase contracts for durum wheat
which are generally less than twelve months' duration.

Our capital asset strategy is to achieve low-cost production through vertical
integration and investment in the most current pasta-making assets and
technologies. The manufacturing- and distribution-related capital assets that
have been or will be acquired to support this strategy are depreciated over
their respective economic lives. Because of the capital-intensive nature of our
business and our current and future facilities expansion plans, we believe our
depreciation expense for production and distribution assets may be higher than
that of many of our competitors. Depreciation expense is a component of
inventory cost and cost of goods sold. Plant expansion costs include incremental
direct and indirect manufacturing and distribution costs that are incurred as a
result of construction, commissioning and start-up of new manufacturing
capacity. These costs are expensed as incurred but are unrelated to current
production and, therefore, reported as a separate line item in the statement of
operations. By locating our newest facility in Arizona closer to our western
U.S. customers, we believe we will generate significant logistical savings and
provide superior service to our west coast customers, while creating additional
capacity to support the continued rapid growth of our business sourced from our
existing plants. We believe adding this strategic location will further enhance
our low-cost producer position in the industry.

Selling and marketing costs increased substantially in both fiscal years 2002
and 2001, in line with the significant expansion of our retail business through
branded acquisitions. These costs constituted 11.7% and 12.0% of revenues for
the three and nine months ended June 30, 2003, respectively. We do not expect
significant further growth in our selling and marketing expenditures as a
percent of revenue because we have substantially completed the development of
the selling and marketing infrastructure needed to support our branded
businesses.

In November 2000, we purchased the Mueller's(R) pasta brand from Bestfoods. In
July 2001, we purchased seven pasta brands from Borden Foods. In September 2002,
we purchased the Lensi brand and in October 2002 we purchased the Martha
Gooch(R) and LaRosa(R) brands. In addition, we purchased the Golden
Grain/Mission pasta brand and Mrs. Leeper's pasta brand in January 2003 and
February 2003, respectively. As discussed below, the timing of these brand
acquisitions had an impact on the period-to-period comparisons.


                                    Page 14

Critical Accounting Policies

This discussion and analysis discusses our results of operations and financial
condition as reflected in our consolidated financial statements, which have been
prepared in accordance with accounting principles generally accepted in the
United States. As discussed in note 1 to our September 30, 2002 consolidated
financial statements, the preparation of financial statements in conformity with
accounting principles generally accepted in the United States requires our
management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and reported amounts of revenues and
expenses during the reporting periods. On an ongoing basis, our management
evaluates its estimates and judgments, including those related to the impairment
of intangible assets, the method of accounting for stock options, the estimates
used to record product return reserves, accounts receivable and allowance for
doubtful accounts and derivatives. Our management bases its estimates and
judgments on its substantial historical experience and other relevant factors,
the results of which form the basis for making judgments about the carrying
values of assets and liabilities that are not readily apparent from other
sources. See note 1 to our September 30, 2002 consolidated financial statements
for a complete listing of our significant accounting policies. Our most critical
accounting policies are described below.

Impairment Testing of Intangible Assets. In accordance with Statement of
Financial Accounting Standards, or SFAS, No. 142, "Goodwill and Other Intangible
Assets," we do not amortize the cost of intangible assets with indefinite lives.
SFAS No. 142 requires that we perform certain fair value based tests of the
carrying value of indefinite lived intangible assets at least annually and more
frequently should events or changes in circumstances indicate that the carrying
amount of an asset may not be fully recoverable. These impairment tests are
impacted by judgments as to future cash flows and brand performance. If such
assets are considered to be impaired, the impairment to be recognized is
measured by the amount by which the carrying amount of the assets exceeds the
fair value of the assets. Assets to be disposed of are reported at the lower of
the carrying amount or fair value less costs to sell. Future events could cause
our management to conclude that impairment indicators exist and that the value
of intangible assets is impaired.

Stock Options. We have elected to follow Accounting Principles Board Opinion
(APB) No. 25, "Accounting for Stock Issued to Employees," and related
Interpretations in accounting for our employee stock options and adopted the pro
forma disclosure requirements under SFAS No. 123 "Accounting for Stock-Based
Compensation." Under APB No. 25, because the exercise price of our employee
stock options is equal to the market price of the underlying stock on the date
of grant, no compensation expense is recognized.

Pro forma information regarding net income and earnings per share is required by
SFAS No. 123 and has been determined as if we had accounted for our employee
stock options under the fair value method of SFAS No. 123. The fair value for
these options was estimated at the date of grant using a Black-Scholes option
pricing model with the following weighted-average assumptions: risk-free
interest rate of 2.0% for fiscal 2003; dividend yield of zero; a volatility
factor of the expected market price of our common stock of .408 for fiscal 2003;
and a weighted-average expected life of the options of one to five years.

The Black-Scholes option valuation model was developed for use in estimating the
fair value of traded options which have no vesting restrictions and are fully
transferable. In addition, option valuation models require the input of highly
subjective assumptions including the expected stock price volatility.


                                    Page 15

Because our employee stock options have characteristics significantly different
from those traded options, and because changes in the subjective input
assumptions can materially affect the fair value estimate, in management's
opinion, the existing models do not necessarily provide a reliable single
measure of the fair value of our employee stock options.

Accounts Receivable - Significant Customers. We generate approximately 25% of
our revenues and corresponding accounts receivable from sales to two customers.
If our primary customers experience significant adverse conditions in their
industry or operations, our customers may not be able to meet their ongoing
financial obligations to us for prior sales or complete the purchase of
additional products from us under the terms of our existing purchase and sale
commitments.

Allowance for Doubtful Accounts - Methodology. We evaluate the collectibility of
our accounts receivable based on a combination of factors. In circumstances
where we are aware of a specific customer's inability to meet its financial
obligations to us (e.g. bankruptcy filings, substantial down-grading of credit
scores), we record a specific reserve for bad debts against amounts due to
reduce the net recognized receivable to the amount we reasonably believe will be
collected. For all other customers, we recognize reserves for bad debts based on
the length of time the receivables are past due, and our historical experience.
If circumstances change (i.e., higher than expected defaults or an unexpected
material adverse change in a major customer's ability to meet its financial
obligations to us), our estimates of the recoverability of amounts due us could
be reduced by a material amount.

Derivatives. We hold derivative financial instruments to hedge a variety of risk
exposures including interest rate risks associated with our long-term debt and
foreign currency fluctuations for transactions with our overseas subsidiary.
These derivatives qualify for hedge accounting as discussed in detail in note 1
to our September 30, 2002 consolidated financial statements. We do not
participate in speculative derivatives trading. Hedge accounting results when we
designate and document the hedging relationships involving these derivative
instruments. While we intend to continue to meet the conditions for hedge
accounting, if hedges did not qualify as highly effective or if we did not
believe that forecasted transactions would occur, the changes in the fair value
of the derivatives used as hedges would be reflected in earnings.

To hedge foreign currency risks, we use futures contracts. The fair values of
these instruments are determined from market quotes. In addition, we use some
over-the-counter forward contracts in hedging these risks. These forward
contracts are valued in a manner similar to that used by the market to value
exchange-traded contracts; that is, using standard valuation formulas with
assumptions about future foreign currency exchange rates derived from existing
exchange rates, and interest rates observed in the market. To hedge interest
rate risk, an interest rate swap is used in which we pay a variable rate and
receive a fixed rate. This instrument is valued using the market standard
methodology of netting the discounted future fixed cash receipts and the
discounted expected variable cash payments. The variable cash payments are based
on an expectation of future interest rates derived from observed market interest
rate curves. We have not changed our methods of calculating these fair values or
developing the underlying assumptions. The values of these derivatives will
change over time as cash receipts and payments are made and as market conditions
change. Our derivative instruments are not subject to multiples or leverage on
the underlying commodity or price index. Information about the fair values,
notional amounts, and contractual terms of these instruments can be found in
note 1 to our September 30, 2002 consolidated financial statements and the
section titled "Quantitative and Qualitative Disclosures About Market Risk."


                                    Page 16

We consider our budgets and forecasts in determining the amounts of our foreign
currency denominated purchases to hedge. We combine the forecasts with
historical observations to establish the percentage of our forecast we are
assuming to be probable of occurring, and therefore eligible to be hedged. The
purchases are hedged for exposures to fluctuations in foreign currency exchange
rates.

We do not believe we are exposed to more than a nominal amount of credit risk in
our interest rate and foreign currency hedges as the counter parties are
established, well-capitalized financial institutions. Our exposure is in liquid
currency (Euros), so there is minimal risk that appropriate derivatives to
maintain our hedging program would not be available in the future.


Third quarter fiscal 2003 compared to third quarter fiscal 2002.

         Revenues. Total revenues increased $12.5 million, or 13.7%, to $104.3
million for the three-month period ended June 30, 2003, from $91.8 million for
the three-month period ended June 30, 2002. The increase for the three-month
period ended June 30, 2003 was primarily due to volume growth of 11.0% over the
prior year period. Revenue growth exceeded volume growth due primarily to higher
selling prices related to durum pass throughs and recent brand acquisitions,
offset by a reduction in the payments received from the U.S. government under
the Continued Dumping and Subsidy Offset Act of 2000, and changes in sales mix.
(See Note 3 to the Consolidated Financial Statements.)

         Revenues for the Retail market increased $8.9 million, or 13.1%, to
$77.0 million in the current period, compared to $68.0 million for the
three-month period ended June 30, 2002. The increase primarily reflects volume
growth of 9.7%. Revenue growth exceeded volume growth due primarily to higher
selling prices related to durum pass throughs and recent brand acquisitions,
offset by changes in sales mix and a reduction in the payments received from the
U.S. government under the Continued Dumping and Subsidy Offset Act of 2000.

         Revenues for the Institutional market increased $3.6 million, or 15.1%,
to $27.3 million for the three-month period ended June 30, 2003, from $23.7
million for the three-month period ended June 30, 2002. This increase was
primarily a result of volume growth of 13.6%. Revenue growth exceeded volume
growth due to higher selling prices related to durum pass throughs, offset by
changes in sales mix.

         Gross Profit. Gross profit increased $4.0 million, or 12.2%, to $36.4
million for the three-month period ended June 30, 2003, from $32.5 million for
the three-month period ended June 30, 2002. This increase was primarily
attributable to revenue growth associated with increased volumes and higher
selling prices. These increases were partially offset by higher raw material
costs, principally durum wheat. Gross profit as a percentage of revenues
decreased to 34.9% for the three-month period ended June 30, 2003, from 35.4%
for the three-month period ended June 30, 2002. This change in gross margin
percentage is due to a number of offsetting factors. Factors putting downward
pressure on margins included sales mix changes; the inherent margin reduction
that mathematically occurs with the pass through of durum cost increases, and
lower revenues associated with the Department of Commerce payments. Factors
having a positive impact on gross margins included branded acquisitions, and
lower costs resulting from the Company's "Funding the Growth" cost reduction
initiative.

         Selling and Marketing Expense. Selling and marketing expense increased
$1.4 million, or 12.7%, to $12.2 million for the three-month period ended June
30, 2003, from $10.8 million for the three-month period ended June 30, 2002. The
increase in selling and marketing expense is primarily attributable to increased
costs related to the branded acquisitions. Selling and marketing


                                    Page 17

expense as a percentage of revenues decreased to 11.7% for the three-month
period ended June 30, 2003, from 11.8% for the comparable prior year period.

         General and Administrative Expense. General and administrative expense
increased $0.7 million, or 23.9%, to $3.5 million for the three-month period
ended June 30, 2003, from $2.8 million for the comparable prior year period.
This increase in primarily attributable to management information system costs
and the costs associated with Sarbanes-Oxley compliance. General and
administrative expense as a percentage of revenues increased to 3.3% from 3.1%.

         Operating Profit. Operating profit for the three-month period ended
June 30, 2003, was $20.7 million, an increase of $1.9 million or 10.1% over the
$18.8 million reported for the three-month period ended June 30, 2002. Operating
profit decreased as a percentage of revenues to 19.9% for the three-month period
ended June 30, 2003, from 20.5% for the three-month period ended June 30, 2002,
as a result of the factors discussed above.

         Interest Expense. Interest expense for the three-month period ended
June 30, 2003 was $2.8 million, increasing $.6 million or 27.9% from the $2.2
million reported for the three-month period ended June 30, 2002. The effect of
higher borrowings and lower capitalized interest was partially offset by lower
interest rates in the current period.

         Income Tax. Income tax expense for the three-month period ended June
30, 2003, was $5.9 million, increasing $.3 million from the $5.7 million
reported for the three-month period ended June 30, 2002, and reflects an
effective income tax rate of approximately 33.0% and 34.0%, respectively.

         Net Income. Net income for the three-month period ended June 30, 2003,
was $12.0 million, increasing $1.0 million or 9.3% from the $11.0 million
reported for the three-month period ended June 30, 2002. Net income as a
percentage of revenues was 11.5% compared with 12.0% for the same period of
2002. Diluted earnings per share were $0.65 per share for the three-month period
ended June 30, 2003 compared to $0.59 per share in the comparable prior year
period, representing an increase of 10.2%.


Nine months fiscal 2003 compared to nine months fiscal 2002.

         Revenues. Revenues increased $43.4 million, or 15.6%, to $322.0 million
for the nine-month period ended June 30, 2003, from $278.6 million for the
nine-month period ended June 30, 2002. The increase for the nine-month period
ended June 30, 2003 was primarily due to volume growth of 15.4% over the prior
year period. Revenue growth exceeded volume growth due primarily to higher
selling prices related to durum pass throughs and recent brand acquisitions,
offset by a reduction in the payments received from the U.S. government under
the Continued Dumping and Subsidy Offset Act of 2000, and changes in sales mix.
(See Note 3 to the Consolidated Financial Statements.)

         Revenues for the Retail market increased $31.4 million, or 15.0%, to
$241.2 million for the nine-month period ended June 30, 2003, from $209.8
million for the nine-month period ended June 30, 2002. The increase primarily
reflects volume growth of 14.4%, higher selling prices related to durum pass
throughs and the impact of recent brand acquisitions, offset by changes in sales
mix and a reduction in the payments received from the U.S. government under the
Continued Dumping and Subsidy Offset Act of 2000.

         Revenues for the Institutional market increased $12.0 million, or
17.4%, to $80.8 million for the nine-month period ended June 30, 2003, from
$68.8 million for the nine-month period ended June 30, 2002. This increase was
primarily due to volume growth of 17.5%, and higher selling prices related to
durum pass throughs, offset by changes in sales mix.

                                    Page 18

         Gross Profit. Gross profit increased $6.2 million, or 6.3%, to $105.3
million for the nine-month period ended June 30, 2003, from $99.1 million for
the nine-month period ended June 30, 2002. This increase was primarily due to
revenue growth associated with increased volumes and higher selling prices.
These increases were partially offset by higher raw material costs, principally
durum wheat. Gross profit as a percentage of revenues decreased to 32.7% for the
nine-month period ended June 30, 2003 from 35.6% for the nine-month period ended
June 30, 2002. This change in gross margin percentage is due to a number of
offsetting factors. Factors putting downward pressure on margins included sales
mix changes, the inherent margin reduction that mathematically occurs with the
pass through of durum cost increases, and lower net revenues associated with the
Department of Commerce payments. Factors having a positive impact on gross
margins included branded acquisitions, and lower costs resulting from the
Company's "Funding the Growth" cost reduction initiative.

         Selling and Marketing Expense. Selling and marketing expense increased
$1.1 million, or 2.9%, to $38.6 million for the nine-month period ended June 30,
2003, from $37.5 million for the nine-month period ended June 30, 2002. Selling
and marketing expense as a percentage of revenues was 12.0% for the nine-month
period ended June 30, 2003, down from 13.5% for the comparable prior year
period. The lower selling and marketing expense as a percentage of revenue is
attributable primarily to higher rates of revenue growth in the businesses which
require less selling and marketing support, and the leverage benefits of
controlling our overhead costs.

         General and Administrative Expense. General and administrative expense
increased $0.8 million, or 9.4%, to $9.8 million for the nine-month period ended
June 30, 2003, from $9.0 million for the comparable prior year period. General
and administrative expense as a percentage of revenues was 3.1% for the
nine-month period ended June 30, 2003, down from 3.2% for the comparable prior
year period.

         Provision for Acquisition and Plant Start-up Expenses. The provision
for acquisition and plant start-up expenses of $4.9 million for the nine-month
period ended June 30, 2003 consisted of incremental costs associated with the
brand acquisitions and plant start-up costs related to the Arizona facility.

         Operating Profit. Operating profit for the nine-month period ended June
30, 2003, was $52.0 million, a decrease of $0.6 million or 1.2% from the $52.6
million reported for the nine-month period ended June 30, 2002. Included in
operating profit is the impact of the $4.9 million charge for incremental costs
associated with the acquisitions and plant start-up expenses. Operating profit
decreased as a percentage of revenues to 16.1% for the nine-month period ended
June 30, 2003, from 18.9% for the nine-month period ended June 30, 2002 as a
result of the factors discussed above.

         Interest Expense. Interest expense for the nine-month period ended June
30, 2003, was $7.4 million, increasing $0.3 million from the $7.1 million
reported for the nine-month period ended June 30, 2002. The effect of higher
borrowings and lower capitalized interest was partially offset by lower interest
rates in the current period.

         Income Tax. Income tax expense for the nine-month period ended June 30,
2003, was $14.7 million, decreasing $0.8 million from the $15.5 million reported
for the nine-month period ended June 30, 2002, and reflects an effective income
tax rate of approximately 33.0% and 34.1%, respectively.

         Net Income. Net income for the nine-month period ended June 30, 2003,
was $29.8 million, decreasing $0.1 million or 0.3% from the $29.9 million
reported for the nine-month period ended June 30, 2002. Included in net income
is the impact of the $4.9 million ($3.3 million after tax) charge for
incremental costs associated with the acquisitions and plant start-up costs.


                                    Page 19

Diluted earnings per common share were $1.61 per share for the nine-month period
ended June 30, 2003 compared to $1.60 per share for the nine-month period ended
June 30, 2002. Included in the diluted earnings per share is the ($0.18) per
share effect of costs related to acquisitions and plant start-up costs. Net
income as a percentage of net revenues was 9.3% versus 10.7% in the prior year.


Financial Condition and Liquidity

Our primary sources of liquidity are cash provided by operations and borrowings
under our credit facility. Cash and temporary investments totaled $6.6 million,
and net working capital totaled $81.6 million at June 30, 2003.

Our net cash provided by operating activities totaled $55.3 million for the
nine-month period ended June 30, 2003 compared to $38.5 million for the
nine-month period ended June 30, 2002. Improved operating results were offset by
increased working capital requirements, primarily related to an increase in
inventory.

Cash used in investing activities principally relates to the purchase of pasta
brands and investments in manufacturing, distribution, milling and management
information system assets. Capital expenditures were $35.8 million for the
nine-month period ended June 30, 2003 compared to $49.0 million in the
comparable prior year period. We plan to spend approximately $5.0 million in the
remainder of fiscal year 2003.

Net cash provided by financing activities was $35.5 million for the nine-month
period ended June 30, 2003 compared to $17.6 million for the nine-month period
ended June 30, 2002. The net borrowings of $46.0 million in fiscal 2003 relates
primarily to the purchase of the Golden Grain/Mission pasta brand and the
purchase of treasury stock. We have purchased 346,398 shares of company stock
for $12.1 million in the nine months ended June 30, 2003. We continue to use our
available credit facility, as well as cash from operations, to fund capital
expansion programs as necessary.

We currently use cash to fund capital expenditures, repayments of debt, working
capital requirements and acquisitions. We expect that future cash requirements
will principally be for capital expenditures, repayments of indebtedness,
working capital requirements and acquisitions.

On December 13, 2002, we completed a $100 million term loan facility as an
amendment to our existing revolving credit agreement. The terms of the original
revolving credit facility provide for commitment reductions of $110 million
between October 1, 2002 and October 1, 2005. The additional term loan capacity
is nearly sufficient to offset the cumulative annual reductions in credit
availability required by the original credit facility. The original terms of the
credit agreement remain generally the same.


                                    Page 20

      Selected Contractual
         Obligations at
         June 30, 2003                             Payments Due by Period
- -----------------------------------------------------------------------------------------
                                           Less than                              After
                             Total          1 year     1-3 years    4-5 years    5 years
- -----------------------------------------------------------------------------------------
                                                    (in thousands)

Long term debt               $318,288       $4,467      $123,821    $190,000      $--

Capital lease obligations         996          430            566         --       --

Unconditional durum
purchase obligations           29,909       16,576         13,333         --       --
                               ------       ------      ---------   --------       --

Total selected contractual
cash     obligations         $349,193      $21,473      $137,720    $190,000      $--
                             ========      =======      ========    ========      ===


We have current commitments for $29.0 million in durum purchases for fiscal
years 2003 and 2004. Additionally, we have approximately $11.0 million in
expenditures remaining under the previously referenced capital programs. We
anticipate approximately $5.0 million of these current capital programs will be
spent by the end of fiscal year 2003 and the remainder in fiscal year 2004. We
expect to fund these commitments from operations. At this time, the current and
projected borrowings under the credit facility do not exceed the facility's
available commitment. The facility matures on October 2, 2006. We anticipate
that any borrowing outstanding at that time will be satisfied with funds from
operations or will be refinanced. We currently have no other material
commitments.

We believe that net cash provided by operating and financing activities will be
sufficient to meet our expected capital and liquidity needs for the foreseeable
future.


Item 3.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Our principal exposure to market risk associated with financial instruments
relates to interest rate risk associated with variable rate borrowings and
foreign currency exchange rate risk associated with borrowings denominated in
foreign currency. We occasionally utilize simple derivative instruments such as
interest rate swaps to manage our mix of fixed and floating rate debt. We had
various fixed interest rate swap agreements with notional amounts of $150
million outstanding at June 30, 2003. The estimated fair value of the interest
rate swap agreements of ($5.9 million) is the amount we would be required to pay
to terminate the swap agreements at June 30, 2003. If interest rates for our
long-term debt under our credit facility had averaged 10% more and the full
amount available under our credit facility had been outstanding for the entire
year, our interest expense would have increased, and income before taxes would
have decreased by $0.6 million for the quarter ended June 30, 2003. We hedge our
net investment in our foreign subsidiaries with euro borrowings under our credit
facility. Changes in the U.S. dollar equivalent of euro-based borrowings are
recorded as a component of the net translation adjustment in the consolidated
statement of stockholders' equity.

                                    Page 21

The functional currency for our Italy operation is the Euro. At June 30, 2003,
long-term debt includes obligations of 37.5 million Euros ($43.1 million) under
a credit facility which bears interest at a variable rate based upon the Euribor
rate.


Item 4. CONTROLS AND PROCEDURES

As of the end of the period, Mr. Webster, our CEO, and Mr. Schmidgall, our CFO,
evaluated our disclosure controls and procedures and, based on this evaluation,
concluded that the Company's disclosure controls and procedures were appropriate
and effective in causing information required to be disclosed in our reports
filed under the Securities Exchange Act of 1934 to be recorded, processed,
summarized and reported within the required time periods. There have been no
significant changes in our internal controls or in other factors that could
significantly affect these controls as of the end of the period.


PART II - OTHER INFORMATION

Item 1.           Legal Proceedings
- ---------------------------------------
                  Not applicable

Item 2.           Changes in Securities
- ---------------------------------------
                  Not applicable

Item 3.           Defaults Upon Senior Securities
- --------------------------------------
                  Not applicable

Item 4.           Submission of Matters to a Vote of Security Holders
- --------------------------------------
                  Not applicable

Item 5.           Other Information
- --------------------------------------
                  Not applicable

Item 6.           Exhibits and Reports on Form 8-K
- --------------------------------------

               (a)  Exhibits.

                    10.  Second  Amended and  Restated  Supply  Agreement by and
                         between AIPC Sales Co. and Sysco Corporation dated July
                         1, 2003. (We have omitted certain  information from the
                         Agreement and filed it separately  with the  Securities
                         and  Exchange  Commission  pursuant  to our request for
                         confidential   treatment  under  Rule  24b-2.  We  have
                         identified the omitted confidential  information by the
                         following statement, "Confidential portions of material
                         have  been  omitted  and  filed   separately  with  the
                         Securities  and  Exchange   Commission,"  as  indicated
                         throughout  the  document  with an asterisk in brackets
                         ([*])).

                    31.1 Certification   Pursuant   to   Section   302   of  the
                         Sarbanes-Oxley Act of 2002.

                    31.2 Certification   Pursuant   to   Section   302   of  the
                         Sarbanes-Oxley Act of 2002.

                    32.  Certification   Pursuant   to   Section   906   of  the
                         Sarbanes-Oxley Act of 2002.

               (b)  Reports on Form 8-K

                    We furnished a report on Form 8-K on May 5, 2003  announcing
                    second quarter earnings.

                                    Page 22

                               SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

American Italian Pasta Company



August 15, 2003         /s/ Timothy S. Webster
- ----------------------- --------------------------------------------
Date                    Timothy S. Webster
                        President and Chief Executive Officer
                        (Principal Executive Officer)



August    15, 2003      /s/ Warren B. Schmidgall
- ----------------------- --------------------------------------------
Date                    Warren B. Schmidgall
                        Executive Vice President and Chief
                        Financial Officer
                        (Principal Financial and Accounting Officer)

                                  EXHIBIT INDEX


Exhibit No.    Description
- -----------    -----------------------------------


10.            Second Amended and Restated Supply Agreement by and between AIPC
               Sales Co. and Sysco Corporation dated July 1, 2003. (We have
               omitted certain information from the Agreement and filed it
               separately with the Securities and Exchange Commission pursuant
               to our request for confidential treatment under Rule 24b-2. We
               have identified the omitted confidential information by the
               following statement, "Confidential portions of material have been
               omitted and filed separately with the Securities and Exchange
               Commission," as indicated throughout the document with an
               asterisk in brackets ([*])).

31.1           Certification  Pursuant  to Section
               302 of the  Sarbanes-Oxley  Act of 2002

31.2           Certification  Pursuant  to Section  302 of the
               Sarbanes-Oxley  Act of 2002

32.            Certification  Pursuant  to Section  906 of the
               Sarbanes-Oxley  Act of 2002

EX-10

CONFIDENTIAL PORTIONS OF MATERIALS HAVE BEEN OMITTED AND FILED SEPERATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION. THE REDACTED MATERIAL HAS BEEN INDICATED
WITH AN ASTERISK IN BRACKETS ([*]).

                  SECOND AMENDED AND RESTATED SUPPLY AGREEMENT

         THIS SECOND AMENDED AND RESTATED SUPPLY AGREEMENT, dated July 1, 2003
(this "Agreement"), is made and entered into by and between SYSCO CORPORATION, a
Delaware corporation (hereinafter referred to as "Sysco"), and AIPC SALES CO., a
Delaware corporation (hereinafter referred together as "AIPC").

     1.   Recitals.

         1.1 AIPC currently supplies product to Sysco from its pasta plants in
Excelsior Springs, Missouri, Columbia, South Carolina and Tolleson, Arizona
(together hereinafter referred to as the "Plants") pursuant to the terms of that
certain Amended and Restated Supply Agreement dated October 29, 1992 (the
"Former Agreement") between American Italian Pasta Company ("Parent") and Sysco.

         1.2 Sysco currently markets and distributes pasta supplied to it by
AIPC pursuant to the terms of the Former Agreement.

         1.3 The Former Agreement was assigned to AIPC pursuant to an Assignment
Agreement dated ________________, 200_, among Parent, AIPC and Sysco.

         1.4 Sysco desires to continue to market and distribute pasta supplied
to its operating divisions, subsidiaries and other entities ("Operating
Companies") by AIPC in accordance with the terms hereof and AIPC desires to
continue to supply pasta to Sysco for food service distribution at a price and
in amounts sufficient to insure Sysco a readily available, cost competitive and
high quality source of pasta in accordance with the terms hereof.

         1.5 Sysco proposes to continue to make all Sysco brand pasta sales
opportunities available through it to AIPC in accordance with the terms hereof.

         1.6 Sysco and AIPC desire to amend and restate the Former Agreement in
its entirety with this Agreement.

         NOW, THEREFORE, in consideration of the mutual promises, covenants and
agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, AIPC and Sysco agree
as follows:

     2. Purchases and Sales of Products.

         2.1 Products Purchased. AIPC shall manufacture at the Plants and sell
to Sysco and Sysco shall purchase from AIPC, in such quantities and at such
times as mutually agreed upon by the parties hereto, those pasta products set
forth by stock keeping unit ("SKU") on Exhibit 2.1 attached hereto (the
"Products"). The parties hereto may amend Exhibit 2.1 from time to time to add
or delete Products as mutually agreed by them in writing. AIPC shall maintain an
inventory of Products sufficient to assure that Sysco's orders hereunder will be
supplied in the ordinary course of business and consistent with past practice
under the Former

                                       2

Agreement. AIPC may only reject a purchase order submitted by Sysco if (i) AIPC
does not have sufficient inventory of Products to fulfill such order, (ii) AIPC
does not have the capacity to fulfill such order in accordance with the terms of
such order; and (iii) such purchase order, or combination of such purchase
orders over a thirty (30)-day period, requests the manufacture and delivery of a
substantial increase in the type of Product set forth on such purchase order(s)
over the 30-day average purchase order volume for the previous twelve (12)-month
period. For purposes of this Section 2.1, a substantial increase shall mean an
increase of at least fifteen percent (15%).

         2.2 General Pricing Structure. The Former Agreement called for Product
pricing to be the sum of: (i) a compilation of specified costs incurred in the
process of manufacturing and selling Products to Sysco delineated in Paragraphs
(a) through (f) of Section 2.2.1 of the Former Agreement, and (ii) a formula
driven mark-up to such costs which provided AIPC with a margin from which to
recover its financing and administrative costs and to make a profit.

         The parties have rigorously reviewed, and agree to, the compilation of
costs that comprise the components and the prices set forth herein and the price
list included as Exhibit 2-1 hereof. As such, the parties wish to eliminate the
need to regularly and comprehensively compile the components of product cost,
and to replace that with the pricing process stated in this agreement.

         Under this Agreement, Sysco will pay a price per Product SKU, based on
agreed upon target values for specified cost components, subject to adjustments
as provided in this Agreement. The parties have established a baseline price
list per Product SKU, included as Exhibit 2.1 hereof (the "Baseline Price
List"), and this Agreement will begin using the Baseline Price List during the
First Measurement Period (defined below).

         Sections 2.3 through 2.10 and the related exhibits: (x) define certain
cost components and their supporting cost elements to be measured under this
Agreement, (y) establish baselines for these cost components, and (z) establish
the specific methodology for setting target cost component values, adjusting the
Product price list for changes in the target cost component values, and
measuring variances from the target values.

         The specific elements of the cost components addressed in Sections 2.3
through 2.10 below are not meant to be a complete compilation of all costs
incurred by AIPC in the process of manufacturing Products and selling them to
Sysco. For the purpose of simplicity, many cost elements such as scrap, usage
variances, full pallet handling expenses, depreciation, and by-products, have
been excluded from Sections 2.3 through 2.10 and shall not be the basis for any
adjustment in the Product price list, except as expressly provided in this
Section 2.2. Each of the cost components addressed in Sections 2.3 through 2.10
(the "Initial Cost Components") meets more than one of the following criteria:
(a) it represents a material portion of the total product cost, (b) it is
subject to market fluctuations over which neither party has control, (c) it is
directly impacted by Sysco's behavior in placing orders for the Products, and
(d) it can be measured by an objective standard which is agreeable to both
parties. If a cost element is not specifically identified as part of an Initial
Cost Component, AIPC will not have the ability to adjust the selling price of
the Products to reflect any fluctuation in the cost of such cost element


                                       2

unless there is a material fundamental or catastrophic change in the nature of
that cost element relative to the cost elements identified in the Initial Cost
Components from that in effect on the date of this Agreement. In such event, the
parties agree to discuss in good faith appropriate adjustments to the pricing
structure under this Agreement to address such change.

         The Initial Cost Components are as follows: [*]

         After the end of the First Measurement Period (defined below) the
parties will calculate the actual amount of the Initial Cost Components over the
Measurement Period (the "Actual Component Costs"). To the extent the sum of the
Actual Component Costs for all Products vary from the sum of the corresponding
component costs used to calculate the cost of such Products in the Baseline
Price List, the difference will be computed as a price variance (the
"Variance"), and the party owing the Variance to the other party will pay it
pursuant to Section 2.10. Prior to the expiration of each Measurement Period, as
provided below, the parties will mutually set the target values for the Initial
Cost Components for the next succeeding Measurement Period. To the extent that
the target values are higher or lower than in the current Measurement Period,
they will be applied as Product price adjustments for the next succeeding
Measurement Period, again subject to the end-of-period variance adjustments. In
this manner , one party or the other will pay price variances at the end of each
Measurement Period, and the prices will be set for the next following
Measurement Period.

         Product pricing will be based on [*] components as follows. Even though
durum used for both the Excelsior Springs and Columbia plants generally comes
from the same sources, [*] transporting the durum to that Plant. In addition,
Products that are made at one Plant, but which are shipped at Sysco's request to
a second Plant for delivery to Sysco, will contain [*] as a part of their
prices.

         [*] are subject to adjustment every six months as described below,
while [*] are subject to adjustment annually as described below. [*] will vary
from the baseline level as a result of cost savings reductions and volume
adjustments.

         The following definitions shall apply to this Agreement: "Contract
Year" shall mean the period from January 1 through December 31 each calendar
year, with the proviso that the first Contract Year will run from the date of
this Agreement through December 31, 2003, and the last Contract year will run
from January 1 of the year of termination to the date of termination if the date
of termination is a date other than December 31. "Adjustment Dates" will be
January 1 and July 1 of each year. "Measurement Period" shall mean the six-month
periods following each Adjustment Date. The First Measurement Period shall be
the six-month period ending on December 31, 2003. The first Adjustment Date will
be January 1, 2004.

         2.3 Semolina Cost.

               (a) For the purpose of this Section 2.3, the following terms
          shall have the following meanings:

               (i)  "Durum Cost" shall mean the cost per bushel for durum as
                    used to produce Products under this Agreement. "Target Durum
                    Cost" shall mean the expected Durum Cost agreed

                                       3

                    to by the parties for the next immediate Measurement Period.
                    "Actual Durum Cost" shall mean the Durum Cost paid by AIPC
                    during any Measurement Period.

               (ii) "Mill Yield Value" shall mean the percentage of durum
                    converted to semolina in the milling process. "Target Mill
                    Yield Value" shall mean the expected Mill Yield Value agreed
                    to by the parties for the next immediate Measurement Period.
                    "Actual Mill Yield Value" shall mean the Mill Yield Value
                    during any Measurement Period.

               (iii) "Millfeed Value" shall mean the value of millfeed per pound
                    produced as a by-product of milling durum into semolina.
                    "Target Millfeed Value" shall mean the expected Millfeed
                    Value agreed to by the parties for the next immediate
                    Measurement Period. "Actual Millfeed Value" shall mean the
                    Millfeed Value during any Measurement Period.

          (b) Exhibit 2.3 sets forth the baseline Semolina cost per pound to be
     paid by Sysco during the First Measurement Period. Said exhibit also sets
     forth the baseline durum cost, the baseline mill yield values for each
     Plant, and the Target Millfeed Value.

          (c) At least 45 days prior to each Adjustment Date, the parties will
     agree to a Target Durum Cost per bushel, a Target Millfeed Value and a
     Target Mill Yield of Semolina to apply to the Excelsior Springs Plant and
     the Columbia Plant during the succeeding Measurement Period. [*]
     With respect to the Tolleson Plant only, where AIPC purchases semolina
     already manufactured by a third party, at least 45 days prior to each
     Adjustment Date, the parties will agree to a Target Semolina Cost which
     shall be the cost AIPC expects to pay the third party manufacturer during
     the succeeding Measurement Period.

          (d) Within 30 days following the end of each Measurement Period, AIPC
     will calculate for each Plant the Actual Durum Cost per pound (using
     [*] pounds per bushel), and the Actual Mill Yield of Semolina, and
     [*], will determine the Actual Gross Semolina Cost per pound for the
     Plant. The Actual Semolina Cost (per pound) will be derived by [*].

         With respect to the Tolleson Plant only, the Semolina Variance shall be
based on [*], provided such actual cost is documented by AIPC.

         [*].

          (e) The following is an example of the above Semolina Variance
     computation for the Excelsior Springs and Columbia Plants:

         [*]

                                       4

          (f) If the parties agree that in a given Measurement Period AIPC will
     obtain durum for use in the Products by entering into specified forward
     purchase contracts for durum, at the time of the purchase of such contract
     they will agree to the yield expected to be achieved from such durum.
     Accordingly, [*]. If the quantity of durum purchased by such
     forward-purchase contracts is insufficient to cover the total production
     volume of Products during a Measurement Period, the portion of the durum
     volume not covered by the forward-purchase contracts will be subject to the
     terms of Section 2.3(a) through (d) above.

          (g) Subject to a written agreement otherwise, in the event AIPC
     implements manufacturing or operating changes that directly result in
     increased Semolina cost, then such cost increase will be borne by AIPC if
     it initiated the change, or by Sysco if the change was made at the written
     request of Sysco. Subject to a written agreement otherwise, if AIPC
     implements a manufacturing or operating change that was made at Sysco's
     written request, which change directly results in decreased Semolina cost,
     then 100% of such cost decrease will be for the benefit of Sysco. If the
     change was initiated by AIPC, then such decrease will be shared two-thirds
     to the benefit of Sysco and one-third to the benefit of AIPC. If any change
     described herein requires an investment of capital by AIPC, the parties
     agree that AIPC shall be entitled to be reimbursed [*] as of the
     date of the implementation of such change prior to sharing any cost savings
     with Sysco. Subject to the annual limitation contained in Section 2.10(a),
     any per-pound cost savings or increases under this Section 2.3(g) shall be
     expressed as a price adjustment to take effect for the next succeeding
     Measurement Period.

         2.4 Packaging Cost Component.

          (a) Exhibit 2.4(a)-1 sets forth the base-line procurement cost of
     films and boxes ("Packaging Cost") to be used during the First Measurement
     Period under this Agreement. Exhibit 2.4(a)-2 describes the packaging used
     for each Product, and calculates the per-pound cost of the packaging.

          (b) At least 45 days prior to each Adjustment Date the parties will
     agree to a target packaging cost to be used for the succeeding Measurement
     Period for all Plants, using the costs at the Excelsior Springs Plant
     ("Target Packaging Cost"). The Target Packaging Cost will [*].

          (c) Within 30 days following the end of each Measurement Period, AIPC
     will determine the actual per-unit Packaging Cost incurred by AIPC in the
     just-concluded Measurement Period at its Excelsior Springs Plant ("Actual
     Packaging Cost"). [*]. The Packaging Cost Variance will be paid
     pursuant to the terms of Section 2.10 hereof.

          (d) Subject to a written agreement otherwise, in the event AIPC
     implements manufacturing or operating changes that directly result in
     increased Packaging Cost, or if AIPC switches from chep pallets to other
     types of pallets, then such cost increase will be borne by AIPC if it
     initiated the change or by Sysco if the change was made at the written
     request of Sysco. Subject to a written agreement otherwise, if AIPC
     implements a manufacturing or operating change that was made at Sysco's
     written request, which change directly results in decreased Packaging Cost,
     then 100% of such cost decrease will be for the benefit of Sysco. If the
     change was initiated by AIPC, then such decrease will be shared

                                       5

     two-thirds to the benefit of Sysco and one-third to the benefit of AIPC. If
     any change described herein requires an investment of capital by AIPC, the
     parties agree that AIPC shall be entitled to be reimbursed [*] as of
     the date of the implementation of such change prior to sharing cost savings
     with Sysco. Subject to the annual limitation contained in Section 2.10(a),
     any per-pound cost savings or increases under this section shall be
     expressed as a price adjustment to take effect for the succeeding
     Measurement Period.

         2.5 Transportation Cost.

          (a) Exhibit 2.5 sets forth the specific Products that will be
     manufactured exclusively at the Excelsior Springs Plant and transferred to
     one or both of the other Plants. AIPC shall have the right to add or
     subtract Products from this list at any Adjustment Date upon written notice
     to Sysco.Exhibit 2.5 also establishes the baseline average
     transportation cost per pound for each interfacility route (the "Average
     Transportation Cost"). The prices for the Products listed on Exhibit
     2.5 at the Columbia and Tolleson Plants will be [*].

          (b) At least 45 days prior to the start of the each Contract Year, the
     parties will agree to a target average transportation cost to be used for
     the next Contract Year ("Target Average Transportation Cost"). The Target
     Average Transportation Cost will be included in the price paid by Sysco for
     each Product during the succeeding Contract Year.

          (c) The parties acknowledge and agree that they will neither calculate
     nor pay any variance between the Target Average Transportation Cost and the
     actual average costs incurred for transportation.

         2.6 Piece Picking Cost.

          (a) Exhibit 2.6 sets forth the per-pound average piece pick
     cost to be used as the base-line for the First Measurement Period of this
     Agreement ("Average Piece Pick Cost"). Exhibit 2.6 also shows the
     baseline values for the cost of each piece; pick and the percentage of
     pieces picked.

          (b) At least 45 days prior to each Adjustment Date, the parties will
     agree on the target cost of each piece pick costs and targeted percentage
     of pieces picked, and shall calculate [*] the target average piece
     pick cost to be used for the succeeding Measurement Period ("Target Average
     Piece Pick Cost"). [*].

          (c) After the end of each Measurement Period, AIPC will determine the
     actual percentage of pieces picked, and will calculate the actual per-pound
     Average Piece Pick Cost incurred during the just-concluded Measurement
     Period, by [*]. The resulting Variance will be paid pursuant to the
     terms of Section 2.10 hereof.

          (d) Subject to a written agreement otherwise, in the event AIPC
     implements manufacturing or operating changes that directly result in
     increased Average Piece Pick Cost, then such cost increase will be borne by
     AIPC if it initiated the change, or by Sysco if the change was made at the
     written request of Sysco. Subject to a written agreement otherwise, if AIPC
     implements a manufacturing or operating change that was made at Sysco's
     written request, which change directly results in decreased Average Piece
     Pick Cost, then 100% of such


                                        6

     cost decrease will be for the benefit of Sysco. If the change was initiated
     by AIPC, then such decrease will be shared two-thirds to the benefit of
     Sysco and one-third to the benefit of AIPC. If any change described herein
     requires an investment of capital by AIPC, the parties agree that AIPC be
     entitled to be reimbursed [*] as of the date of the implementation
     of such change prior to sharing cost savings with Sysco. Subject to the
     annual limitation contained in Section 2.10(a), any per-pound cost savings
     or increases under this section shall be expressed as a price adjustment to
     take effect for the next succeeding Measurement Period.

         2.7 Additives Cost.

          (a) Exhibit 2.7 sets forth the per-pound procurement cost of
     additives, lists all of the Products that contain additives, lists the
     percentage of additives contained in each Product, and lists the implied
     per pasta pound cost of the additives in each Product (the "Additive
     Cost"), which will be used as the baseline Additive Cost in the First
     Measurement Period.

          (b) At least 45 days prior to each Adjustment Date the parties will
     agree on the target additive cost for each Product to be used for the
     succeeding Measurement Period based on costs at the Excelsior Springs Plant
     ("Target Additive Cost"). The Target Additive Cost will be included in the
     per-pound price to be paid by Sysco for each Product during the succeeding
     Measurement Period.

          (c) Within 30 days following the end of each Measurement Period, AIPC
     will determine the actual per-unit Additive Cost incurred by AIPC in the
     just concluded Measurement Period, at its Excelsior Springs Plant ("Actual
     Additive Cost"). [*]. The Additive Cost Variance will be paid
     pursuant to the terms of Section 2.10 hereof.

          (d) Subject to a written agreement otherwise, in the event AIPC
     implements manufacturing or operating changes that directly result in
     increased Additives Costs, then such cost increase will be borne by AIPC if
     it initiated the change or by Sysco if the change was made at the written
     request of Sysco. Subject to agreement otherwise, if AIPC implements a
     manufacturing or operating change that was made at Sysco's written request,
     which change directly results in decreased Additives Costs, then 100% of
     such cost decrease will be for the benefit of Sysco. If the change was
     initiated by AIPC, then such decrease will be shared two-thirds to the
     benefit of Sysco and one-third to the benefit of AIPC. If any change
     described herein requires an investment of capital by AIPC, the parties
     agree that AIPC shall be entitled to be reimbursed [*] as of the
     date of the implementation of such change prior to sharing cost savings
     with Sysco. Subject to the annual limitation contained in Section 2.10(a),
     any per-pound cost savings or increases under this section shall be
     expressed as a price adjustment to take effect for the next succeeding
     Measurement Period.

         2.8 Co-Packing Cost.

          (a) Exhibit 2.8 sets forth the specific Products to be
     considered as "Other Pasta" as defined in Section 2.20, and the per-pound
     cost of co-packed Products furnished to Sysco under this Agreement
     ("Co-Packing Cost"), which will be used as the baseline Co-Packing Cost in
     the First Measurement Period. AIPC shall have the right to delete Products


                                       7

     from this list at any Adjustment Date upon written notice to Sysco. Such
     deleted Products then shall be subject to the terms of Sections 2.3 through
     2.7.

          (b) At least 45 days prior to each Adjustment Date, the parties will
     agree on target co-packing cost for each Product to be used for the
     succeeding Measurement Period based on the Excelsior Springs Plant ("Target
     Co-Packing Cost"). The Target Co- Packing Cost will be included in the
     price paid by Sysco for each Product during the succeeding Measurement
     Period.

          (c) The parties acknowledge and agree that they will neither calculate
     nor pay any variance between the Target Co-Packing Cost and the actual
     co-packing costs incurred for co-packed Products furnished to Sysco under
     this Agreement.

         2.9 Conversion Cost Component.

          (a) Exhibit 2.9 sets forth the elements of conversion cost and
     the baseline per-pound conversion cost to be used for the first Contract
     Year ("Conversion Cost"). The parties acknowledge that in the course of
     converting durum into Products, AIPC incurs costs such as depreciation and
     scrap losses, other than those included in Exhibit 2.9.
     However, changes in any of the costs excluded from the calculations in
     Exhibit 2.9 will not result in adjustment to the price of the
     Products except under the circumstances described in Section
     2.2 related to fundamental or catastrophic cost changes.

          (b) At least 45 days prior to the start of each Contract Year, the
     parties will agree to a target conversion cost for its combined operations
     at the Excelsior Springs and Columbia Plants to apply to the next Contract
     Year ("Target Conversion Cost"). (The Tolleson Plant or any other U.S.
     Plant will be included if it is expected to ship 10% or more of the
     Products purchased by Sysco in the next Contract Year.) The Target
     Conversion Cost will be included in the price paid by Sysco for each
     Product during the succeeding Contract Year.

          (c) Within 30 days following the end of each Contract Year, AIPC will
     determine the actual conversion cost for its most recently ended fiscal
     year (the "Fiscal Year") based on its combined operations at its Excelsior
     Springs and Columbia Plants ("Actual Conversion Cost"). [*]. The
     resulting Conversion Cost Variance will be paid pursuant to the terms of
     Section 2.10 hereof. (Provisos: (i) The Tolleson Plant or any other U.S.
     Plant will be included in the conversion cost calculation if it shipped 10%
     or more of the Products purchased by Sysco during the just concluded Fiscal
     Year; and (ii) if this Agreement terminates on any date other than December
     31 of a given year, the final calculation of the Conversion Cost Variance
     will be based on AIPC's most recent fiscal quarters since the beginning of
     the Contract year up until the date of termination.)

         2.10 Margin Aggregate Variances and Cost Reductions.

          (a) In the First Measurement Period, the baseline Product prices
     reflect that AIPC will receive a baseline margin of [*] per pound.
     Thereafter, AIPC's per-pound margin will remain unchanged except as
     affected by cost savings from manufacturing or operating changes computed
     under Sections 2.3 through 2.9 above; provided, however, notwithstanding
     the terms of Sections 2.3 through 2.9, AIPC's maximum net cost savings
     benefit in any Contract


                                       8

     Year shall be limited to a margin increase of no more than [*] per
     pound compared to the previous Contract Year.

          (b) The Semolina Variance, Packaging Cost Variance, Piece Pick Cost
     Variance, and Additive Cost Variance computed under Sections 2.3, 2.4 and
     2.6 and 2.7 shall be [*] and shall be determined within 60 days
     after the end of the Measurement Period. If the [*], within 90 days
     after the end of the Measurement Period on which the
          [*] was based.

          (c) The [*] shall be computed annually pursuant to Section 2.9.
     If the [*], within 90 days after the end of the Contract Year on
     which the [*] was based.

          (d) For purposes of computing Biannual Variance and Annual Variance
     (collectively the "Variances"), AIPC shall [*] applicable to its
     fiscal reporting period that most closely corresponds to the applicable
     Measurement Period for the Biannual Variances, or in the case of the Annual
     Variance, the Fiscal Year. For example, the First Measurement Period each
     year corresponds to AIPC's fiscal second and third fiscal quarters, and
     AIPC's results from those quarters shall be used to compute the Biannual
     Variances. The second Measurement Period each year corresponds to AIPC's
     fiscal fourth quarter and the first fiscal quarter of the subsequent fiscal
     year, and those quarters shall be used to compute the Biannual Variances.

          (e) In order to assist Sysco in planning its quarterly expenses, AIPC
     will compute an estimated net Variances based on costs through the date of
     the estimate, and AIPC will provide Sysco with written notice thereof, no
     later than forty-five (45) days before the end of each calendar quarter.
     Such estimate shall be a good-faith estimate, and shall not be binding upon
     AIPC. Such estimate shall indicate what the net Variances will be at the
     end of the then-current Measurement Period and Contract Year if the
     then-current cost trends continue through the end of the Measurement Period
     and Contract Year. Thus, AIPC will advise Sysco of the estimated net
     Variances on or before February 13, May 16, August 16, and November 15, of
     each year.

         2.11 Effect of Failure to Agree. In the event the parties do not reach
agreement on any target value under Sections 2.3 through 2.9, above, the
applicable target value then in effect will continue to be the target value for
the subsequent Measurement Period until the parties reach agreement or until the
matter has been determined pursuant to Section 8.10, below.

         2.12 Sysco Right to Object and Audit. In the event Sysco disputes any
variance calculation with respect to any Measurement Period or any Contract Year
made by AIPC under Sections 2.3 through 2.10 above, Sysco may object thereto in
writing within 30 days of AIPC's determination of such variance ("Variance
Objection"). Sysco will then have 60 days from submission of its Variance
Objection to review, during reasonable business hours, the business records of
AIPC used to reach such determination, and to notify AIPC in writing of the
actual variance that Sysco believes to be accurate ("Sysco-Determined
Variance"). In the event the parties cannot agree upon the actual variance in
question within 30 days from Sysco's submission of the Sysco-Determined
Variance, the matter may be submitted by either party for resolution pursuant to
Section 8.10, below. Any differences in variances agreed to by the Parties

                                       9

or determined pursuant to Section 8.10, will be paid by the appropriate Party to
the other within 10 days thereafter, together with interest thereon at the rate
of 8% per annum from the date such payment should have been made pursuant to
Section 2.10 of this Agreement.

         2.13 Payment Terms. Sysco shall make payments to AIPC for Products
supplied to Sysco by AIPC within fifteen (15) days after receipt of an invoice
therefor.

         2.14 Exclusive Supplier to Sysco in U.S. Except for sales pursuant to
Section 2.17 of this Agreement, during the term hereof AIPC shall not act as a
supplier or seller of pasta or Products to any business other than Sysco in the
United States that, as its primary business, operates as, or sells and delivers
to, institutions (such as restaurants, hospitals and schools) which provide food
for consumption away from home ("Foodservice Business"). Specifically, AIPC may
sell pasta and/or Products (i) to a business that sells food directly to
consumers at retail, including but not limited to grocery, drug, mass merchant,
health food, and other similar retail stores ("Retail Business") or that sells
or distributes products to the Retail Business, (ii) to industrial ingredient
food processors who use pasta in their finished product and (iii) to government
agencies and through government-sponsored food programs.

         2.15 Exclusive Right to Market Sysco Label Pasta in U.S. AIPC shall
have the exclusive right to supply Products bearing a Sysco-owned label through
Sysco in the United States, provided that (i) AIPC maintains the quality of such
Products and supplies them at a competitive price (based upon prices available
in long term arrangements and taking into consideration the costs associated
with the multi-colored packaging and box designs which have been or will be
designed by Sysco and AIPC), and (ii) AIPC provides a continuous source of
supply of Products to Sysco, it being understood that in the event of an
interruption in AIPC's production, AIPC shall be permitted to utilize other
sources of supply (provided such supply is of similar quality to the Products
produced by AIPC) as approved in writing in advance by Sysco. Nothing in this
Section shall be construed as obligating AIPC to sell Products to Sysco at less
than the price provided for in this Agreement or to utilize such alternative
sources of supply as approved by Sysco, unless AIPC elects to do so in order to
maintain its exclusive rights under this Section.

         2.16 Sales in Mexico, Canada, and Europe. During the term hereof, if
Sysco should desire to sell pasta products in Mexico, Canada or Europe, Sysco
shall give AIPC a right of first refusal to supply such products as follows:
when Sysco has received a written, bona fide offer from a third party to supply
pasta products to Sysco in any of such geographical areas, Sysco shall provide
AIPC with all relevant data concerning such third-party offer, and AIPC shall
have fourteen (14) days to respond in writing with its proposal. If AIPC's
proposal is substantially equal to, or less costly than, the third-party offer,
Sysco shall enter into a supply contract with AIPC in accordance with the terms
of AIPC's proposal as modified by the mutual written agreement of the parties.
It is further understood that to the extent allowable by applicable law, AIPC's
supply of pasta products to Sysco in Europe will be from AIPC's subsidiary,
Pasta Lensi, s.r.l. Notwithstanding anything to the contrary set forth in this
Section 2.16, AIPC acknowledges that Sysco currently sells pasta products under
the Arrezzio label in Canada pursuant to an existing contract with a third party
supplier. AIPC acknowledges and agrees that such contract shall not be subject
to the right of first refusal granted hereunder so long as the contract involves
only Arrezzio-branded product.



                                       10

         2.17 Direct Sales to Certain Sysco Customers. The parties acknowledge
that certain Foodservice Business customers (including the military,
universities and major restaurant chains) may insist upon purchasing directly
from a manufacturer. In those situations, AIPC shall be permitted to sell
Products directly to such Foodservice Businesses at prices negotiated between
AIPC and such Foodservice Businesses, and AIPC shall use Sysco's Operating
Companies as AIPC's exclusive agent in connection with such direct sales. Sysco
will be compensated on such sales by the payment of a fee to be mutually agreed
by AIPC and Sysco. Such sales may be in the form of actual sales or as sales to
Sysco at the prices contracted with such customers, in which case AIPC shall pay
the agreed upon fee monthly to Sysco within 15 days of the end of the calendar
month for all sales made during that month.

         2.18 Sysco Orders; Billing. Sysco, on behalf of the Operating
Companies, shall order directly from AIPC for all purchases hereunder. Such
orders shall be placed at least four (4) business days prior to the requested
shipment date. Sysco may, for special orders, request a shorter delivery date,
and AIPC will use reasonable, good faith efforts to meet such special delivery
date(s). Billing by AIPC shall be directly to Sysco, irrespective of which
Operating Company is the recipient of the respective order(s).

         2.19 Labeling. AIPC agrees to use such labeling on the pasta ordered by
Sysco as is supplied to AIPC by Sysco or obtained by AIPC in accordance with the
instructions and guidelines of Sysco.

         2.20 Purchase of Pasta Not Manufactured by AIPC. As of the date of this
Agreement, AIPC does not manufacture certain types of pasta such as giant shells
and manicotti ("Other Pasta"). Sysco will permit AIPC to purchase Other Pasta
for resale to Sysco under Sysco labels. AIPC will have the exclusive right to
market Other Pasta bearing a Sysco label through Sysco in the United States,
Canada and Mexico, provided that (1) the quality of the Other Pasta is
acceptable to Sysco in its reasonable judgment, (2) AIPC is willing to sell the
Other Pasta to Sysco at a price which is comparable to a price for Other Pasta
of similar quality and packaging and in similar quantities as is available to
Sysco from one or more third parties, and (3) the Other Pasta is manufactured in
accordance with Sysco's quality assurance standards that are applicable to
AIPC's facilities. The price for Other Pasta is established pursuant to Exhibit
2.1 hereof and adjusted pursuant to Section 2.8 hereof.

     3. Trademark Licenses.

         3.1 Sysco License. During the term of this Agreement,
Sysco hereby grants to AIPC the non-exclusive right to use the Sysco Trademarks
(as such term is defined below) on and in relation to its sale of the Products
to the Sysco and the Operating Companies. Such use of the Sysco Trademarks shall
be in accordance with the instructions and guidelines of Sysco as provided to
AIPC from time to time. AIPC acknowledges and agrees that it is only authorized
hereunder to sell the Products bearing any of the Sysco Trademarks to the Sysco
or the Sysco Operating Companies and sales or distribution to any other parties
are expressly prohibited, except as otherwise expressly provided in Section 2.17
herein or in writing by Sysco.

         (a) Limited Use of Sysco Trademarks. AIPC agrees that during the
term of and after the termination of this Agreement it shall not use any of the
Sysco Trademarks or any words or marks confusingly similar thereto in connection
with the manufacture, use, sale or distribution of any products which are not
sold exclusively to the Sysco or the Operating Companies.

         (b) Definition of Sysco Trademarks. For purposes of this
Agreement "Sysco Trademarks" shall mean one or more of the trademarks, brands,
logos, symbols, slogans, or packaging motifs designated by Sysco form time to
time and owned or licensed by Sysco, any of the Operating Companies and/or any
affiliates of Sysco for resale by Sysco or the Operating Companies.

         3.2 AIPC License. AIPC acknowledges and agrees that Sysco
shall have the right to continue using the mark PASTA LA BELLA pursuant to the
terms of that certain trademark license agreement entered into between Sysco and
AIPC and dated February 3, 1994, ("Pasta La Bella License"). As such, the Pasta
La Bella License may be amended from time to time.

     4. Marketing and Promotion.

         4.1 Marketing and Promotional Activities of Sysco. Sysco
shall use reasonable, good faith efforts to sell Products to Sysco's existing
Foodservice Business customers in the United States, Canada and Mexico in
accordance with necessary and appropriate marketing and promotional practices.
Subject to Section 3.2 hereof, Sysco shall bear all expenses incurred in
connection with all such marketing and promotional activities engaged in by
Sysco.

         4.2 Marketing and Promotional Activities of AIPC. AIPC
shall continue to cooperate with Sysco in developing Sysco's pasta marketing
program in the United States, Canada and Mexico. In the event AIPC and Sysco
agree in writing that Sysco will assume the cost of any sales, marketing and
promotional activities and expenses historically provided by AIPC, Sysco will
receive a corresponding reduction in the price of Products.

         4.3 Joint Marketing. Sysco may request that the parties
engage in joint marketing efforts beyond the scope of Sections 3.1 and 3.2
above, upon terms to be mutually agreed by the parties from time to time.

     5. Warranties, Covenants and Agreements.

         5.1 Warranty as to Purchased Products. AIPC warrants that
each Product will meet the specifications for such Product that are in effect or
as otherwise agreed to by the parties from time to time. If AIPC supplies Other
Pasta to Sysco pursuant to Sections 2.8 and 2.20 of this Agreement, AIPC
warrants that Other Pasta will meet the mutually agreed specifications for such
Other Pasta. AIPC further warrants that the Products and Other Pasta delivered
to Sysco hereunder, as of the date of delivery to the Operating Company, (a)
will not be adulterated or misbranded within the meaning of the Federal Food,
Drug and Cosmetic Act (the "Act"), (b) will not be an article which cannot be
introduced into interstate commerce under the provisions of Section 404 and 505
of the Act, and (c) will be in material compliance with all applicable federal,
state and local laws.



                                       12

         5.2 Covenants.

         (a) Compliance with Laws. AIPC agrees that its Plants shall be
operated in material compliance with all applicable codes, laws, statutes,
regulations and ordinances, whether federal, state or local including, without
limitation, all environmental, health or safety laws. AIPC will promptly notify
Sysco of any notices or proceedings arising out of the material nonconformity or
noncompliance with respect to any matters addressed in this Section 4.2 and AIPC
will promptly cure or have dismissed with prejudice any such actions or
proceedings to Sysco's reasonable satisfaction.

         (b) Permits and Licenses. During the term of this Agreement,
AIPC agrees to maintain in place all permits and licenses reasonably necessary
for the operation by AIPC of the Plants and shall otherwise comply with any and
all laws, ordinances, rules and regulations of any governmental unit or agency
having jurisdiction related in any way to the use or occupancy of the Plants by
AIPC, including, without limitation, the United States Department of
Agriculture.

         (c) Repairs and Operation. AIPC agrees to operate the Plants in
a commercially reasonable manner and to keep the Plants in good repair in
accordance with reasonable standards of operation and good manufacturing
practices of the United States Food and Drug Administration.

         (d) Inspections. Upon reasonable notice to AIPC, Sysco's
employees and representatives shall have the right of full access to the Plants
during normal business hours during the term of this Agreement so long as they
agree to comply with all rules and regulations applied by AIPC generally to all
Plant visitors.

         5.3 Changes and Improvements. During the course of this
Agreement, AIPC may develop or implement changes to its manufacturing,
operating, or business methods as a result of its own initiatives or as a result
of information provided by Sysco. In either event, such changes, and the
information and know-how on which they are based, will be deemed to be the sole
and exclusive property of AIPC and may be used by AIPC with respect to its
business without any compensation to Sysco other than as specifically provided
herein. Nothing in this Agreement obligates either party to develop or implement
any change in their manufacturing, operating or business methods.

     6. Term of Agreement.

         6.1 Initial Term. Subject to the provisions of this Article, this
Agreement shall become effective on July 1, 2003, and expire December 31, 2006.

         6.2 Termination in Event of Default or Bankruptcy. Either party may
terminate this Agreement, prior to the expiration of the term hereof, upon (a)
the other party's failure to cure any default hereunder within ninety (90) days
of receipt of written notification of such default or (b) the filing of any
petition in bankruptcy or the commencement of any proceeding relating to the
relief or readjustment of indebtedness, either through reorganization or
otherwise, by or against the other party.



                                       13

         6.3 Termination by Sysco. If AIPC becomes substantially unable to
perform its obligations under this Agreement for any reason other than those
listed in Section 9.7 hereof, and such inability to perform persists for three
(3) months or more, Sysco may terminate this Agreement.

         6.4 Extension of Term. This Agreement will renew automatically for
additional terms of three (3) years each, up to a maximum of two additional
terms, except as provided below:

         (a) Sysco may decline to renew for the next term if it provides to AIPC
a written termination notice no later than six (6) months prior to the end of
the then-current term; or

         (b) If Sysco's annualized purchasing volume for the first six months of
the third Contract Year of any term is more than 10% below its average annual
volume of purchases during the first two Contract Years of such term, AIPC may
decline to renew for the next term by giving written notice to Sysco no later
than three months prior to the end of the then-current term.

         6.5 End of Term Inventory. The parties acknowledge that
the Products are manufactured and packaged exclusively for Sysco, and that AIPC
has no market for the Products and packaging other than Sysco. Accordingly,
unless otherwise requested by Sysco, AIPC shall be entitled to draw down its
inventory of Products and packaging near the end of any term of this Agreement
so as to not have excess inventory remaining at the end of the term, even if
this means that some orders will be incompletely filled during the last month of
the term. If Sysco desires that orders be filled completely throughout the term,
it may so notify AIPC to do so, but in such case Sysco shall be obligated to
purchase any leftover inventory of Products or packaging from AIPC at the end of
the term. The Products shall be purchased at the then-current rates under this
Agreement, and the packaging shall be purchased at the costs paid therefor by
AIPC.

     7. Indemnification and Insurance.

         7.1 Indemnification by AIPC. AIPC shall defend, indemnify and hold
harmless Sysco, the Operating Companies and their respective employees,
officers, directors and customers (individually an "Indemnitee") from all
actions, suits, claims and proceedings ("Claims"), and any judgments, damages,
fines, costs and expenses, including reasonable attorneys' fees resulting
therefrom (and Indemnitee shall notify AIPC promptly of the service of process
or receipt of actual notice of any Claim) (A) brought or commenced by federal,
state or local governmental authorities against any Indemnitee alleging that any
Products or Other Pasta sold by AIPC to or on the order of Sysco or an Operating
Company hereunder did not, as of the date of delivery, meet the representations
set forth in Section 4.1 above; (B) to the extent allowed by applicable law,
brought or commenced by an employee (statutory or other), agent, representative,
officer and director of AIPC or its contractors and subcontractors for personal
injury, death, loss or damage of property arising out of or alleged to have
arisen out of any occurrence on owned, leased, permanent, or temporary property
or premises of Sysco or an Operating Company; or, (C) brought or commenced by
any person or entity against any

                                       14

Indemnitee for recovery of damages for the injury, illness and/or death of any
person or damage to property, in either case, arising out of (i) the delivery,
sale, resale, use, consumption or labeling or any Product or Other Product; (ii)
the failure of any Product or Other Product to meet the representations set
forth in Section 4.1, above; or (iii) the negligence of AIPC. AIPC's
indemnification obligations hereunder shall not apply to the extent that Claims
are (x) caused by the negligence of an Indemnitee, or (y) arise out of the use
of the Sysco Trademarks pursuant to this Agreement.

         7.2 Indemnification by Sysco. Sysco shall defend, indemnify and hold
harmless AIPC and its employees, officers and directors from and against any and
all claims and liabilities, including costs, expenses and reasonable attorneys
fees incurred in connection with the defense of any such Claims, arising out of
(i) Sysco's marketing efforts pursuant hereto, (ii) the misuse, improper
storage, handling or adulteration of any Pasta or Other Products by Sysco or an
Operating Company, or (iii) the use of the Sysco Trademarks pursuant to this
Agreement.

         7.3 Insurance. AIPC shall maintain in effect insurance coverage with
reputable insurance companies covering worker's compensation and employers'
liability, automobile liability, comprehensive general liability, including
product liability and excess liability, all with limits described in Exhibit
7.3. AIPC shall furnish a certificate evidencing the obligation of its insurance
carriers not to cancel or materially amend such policies without thirty (30)
days prior written notice to Sysco. In addition, Sysco shall be named as an
additional insured with respect to (i) the comprehensive general product
liability coverages specified herein using the Insurance Services Office form CG
2015 Broad Form Vendor's endorsement or its equivalent, and (ii) automobile and
excess liability coverages.

     8. Assignment.

         8.1 Assignment. This Agreement shall not be assignable by AIPC or
Sysco without the written consent of the other party, including any assignment
by operation of law occurring as the result of any foreclosure of the Plants or
any material component thereof by any person having a security interest or
mortgage therein, and any attempted assignment in violation of this provision
shall be void and unenforceable. For purposes of this Agreement, any merger,
sale of all or substantially all of the assets, sale or transfer of a
controlling interest in the shares or other voting securities, or any other
transaction or series of transactions which results in any change in the person
or persons holding a majority of the voting securities in any party (or any
entity controlling such party), shall be deemed to be an assignment of this
Agreement by such party which shall require the consent of the other party as
set forth above.

         8.2 Binding Effect. Subject to Section 8.1, this Agreement and the
rights and obligations of the parties hereto shall be binding upon and shall
inure to the benefit of such parties and their successors and permitted assigns.

     9. Miscellaneous.

         9.1 Entire Agreement. This instrument constitutes the entire agreement
between AIPC and Sysco and it expressly supersedes all other prior oral or
written negotiations,

                                       15

agreements, understandings or course of conduct between the parties with respect
to the subject matter hereof including, without limitation, the Former
Agreement.

         9.2 Amendment. This Agreement shall not be amended, altered or changed
except by a written instrument executed by the parties hereto or their permitted
assignees, if any.

         9.3 Waiver. Any waiver by either party hereto of an obligation on the
part of the other party shall be ineffective unless in writing and shall not be
deemed to be a waiver of any other future obligation or performance.

         9.4 Severability. In the event that any provision hereof is found by a
court of competent jurisdiction to be unenforceable, such unenforceability shall
not affect the binding nature of the balance of the Agreement and the remaining
provisions shall be given effect, to the extent possible, as if the
unenforceable provision had not been included herein.

         9.5 Governing Law. This Agreement and the rights and obligations of
the parties hereunder, shall be construed in accordance with the law of the
State of Delaware.

         9.6 Notices. The notices to be given hereunder shall be given in
writing, by (i) certified mail, postage prepaid, (ii) by reputable overnight
courier service, (iii) by facsimile transmission, or (iv) personal delivery, and
addressed in each case as follows, or to such other address as the parties may
designate by written notice under this Section 9.6:

         If to Sysco:              Sysco Corporation
                                   1390 Enclave Parkway
                                   Houston, TX  77077-2099
                                   Attn:    Senior Vice President
                                   Baugh Supply Chain
                                   Telephone:  (713) 584-1390
                                   Telefax:    (713) 584-4070

                                   Copy to:

                                   Sysco Corporation
                                   1390 Enclave Parkway
                                   Houston, TX  77077-2099
                                   Attn:    General Counsel
                                   Telephone:  (713) 584-1390
                                   Telefax:    (713) 584-2510

         If to AIPC:               AIPC Sales Company
                                   4100 North Mulberry Drive
                                   Kansas City, MO  64116-0696
                                   Attn:    President
                                   Telephone:  (816) 584-5201
                                   Telefax:    (816) 584-5301


                                       16

                                   Copy to:

                                   American Italian Pasta Company
                                   4100 North Mulberry Drive
                                   Kansas City, MO  64116-0696
                                   Attn:    Chief Financial Officer
                                   Telephone:        (816) 584-5634
                                   Telefax: (816) 584-5734

                                   Blackwell Sanders Peper Martin, LLP
                                   2300 Main Street, Suite 1000
                                   Kansas City, MO  64108
                                   Attn:    James M. Ash, Esq.
                                   Telephone:        (816) 983-8137
                                   Telefax: (816) 983-8080

Notices shall be effective (i) three (3) days after deposit in the mail if given
by certified mail, (ii) the next business day following deposit with a courier
if given by courier, (iii) when received if given by facsimile transmission or
personal delivery.

         9.7 Force Majeure. The obligations of the parties hereto, and of their
permitted assigns, shall be subject to all acts of God; riots, insurrections;
federal and state laws, orders, rules and regulations; interference by civil,
military or naval authorities; governmental actions; accidents; storms, fire or
other casualty; and other similar events of force majeure which are beyond the
reasonable control of the party obligated to perform, and such performance
obligation shall be suspended during the period of such force majeure; provided
that any such force majeure shall not operate to extend the term hereof. If
force majeure extends for more than six (6) consecutive months, then either
party may `terminate this Agreement.

         9.8 Relationship of Parties. Nothing in this Agreement
shall be deemed or construed by the parties or by any third parties as creating
the relationship of principal and agent, partnership or joint venture between
the parties, it being understood and agreed that no provision contained herein,
and no act or the parties, shall be deemed to create any relationship between
the parties other than the relationship of buyer and seller.

         9.9 Past Practice. Whenever this Agreement refers to "past practice"
as in references to treatment consistent with past practice, such reference is
to the past practice of the parties under the Former Agreement.

         9.10 Dispute Resolution. Except as provided below, the parties shall
submit any and all disputes controversies or claims arising out of or related to
this Agreement ("Disputes") to non-binding mediation to be held in Houston,
Texas. If complete agreement cannot be reached within forty-five (45) days of
submission to mediation, and if written notice of desire to arbitrate is given
by either of the parties as provided below and the matter is not then otherwise
resolved by the parties hereto, such Disputes shall be settled by resort to
arbitration in accordance with Title 9 of the United States Code (the United
States Arbitration Act), the Commercial Arbitration Rules, and the Optional
Rules for Emergency Measures of Protection, all as amended from time to time
(the "Rules") of the American Arbitration Association and the provisions of this
Section 9.10; provided, however, that the provisions of this Section shall
prevail in the event of any conflict with such Rules. The parties agree that
they shall use their best efforts to cause the matter to be presented to a panel
of three arbitrators (at least one of whom shall have at least ten years of
industry experience relating to the subject matter of the dispute) within thirty
(30) days after the establishment of such panel. Such selection of arbitrators
shall be made in accordance with the Rules. There shall be no discovery. Pending
the arbitration hearing, any provisional remedy that would be available to a
party from a court of law shall be available from the arbitration panel. The
decision of a majority of the arbitration panel with respect to the matters
referred to them pursuant hereto shall be final and binding upon the parties to
the dispute, and confirmation and enforcement thereof may be rendered thereon by
any court having jurisdiction upon application of any person who is a party to
the arbitration proceeding. The costs and expenses incurred in the course of
such arbitration shall be borne by the party or parties against whose favor the
decisions and conclusions of the arbitration panel are rendered; provided,
however, that if the arbitration panel determines that its decisions are not
rendered wholly against the favor of one party or parties or the other, the
arbitration panel shall be authorized to apportion such costs and expenses in
the manner that it deems fair and just in light of the merits of the dispute and
its resolution. The arbitration panel shall have no power or authority under
this Agreement or otherwise to award or provide for the award of punitive or
consequential damages against any party.

     The provisions of this Section 9.10 shall not apply to third party claims
brought against either party and their respective directors, officers, employees
or agents for which such party may have a right to indemnity from the other
party under this Agreement.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first set forth above.

                                      SYSCO CORPORATION



                                      By:      /s/ Larry G. Pulliam
                                               Larry G. Pulliam
                                               Senior Vice President,
                                               Baugh Supply Chain



                                      AIPC SALES CO.



                                      By:      /s/ Timothy S. Webster
                                               Timothy S. Webster
                                               Title: President and
                                                      Chief Executive Officer


                                       18

                           Exhibit List


2.1                 List of Products by SKU and Baseline Prices

2.3                 Baseline Semolina Cost

2.4(a)-l            Baseline Packaging Cost

2.4(a)-2            Other Packaging Data

2.5                 Baseline Transportation Cost

2.6                 Baseline Average Piece Pick Cost

2.7                 Baseline Additives Costs

2.8                 Baseline Co-Packing Cost

2.9                 Baseline Conversion Cost

7.3                 AIPC Insurance

                                                    Exhibit 2.1
                                                 SYSCO PRICE LIST
                                                     EXCELSIOR

NOTE) Prices are FOB Plant.
                                                                                                    FORMER        FORMER         NEW BASELINE          NEW BASELINE
                           UPC                                                       PACK/         INVOICE          PER             INVOICE                PER
         SKU               CODE                    DESCRIPTION                        SIZE         UNIT LIST       LB/$            UNIT LIST               LB/$
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
ARREZZIO BULK:
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600533     5587951    ARR DITALINI/SALAD MACARONI                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              630631     8341851    ARR HEAVY WALL ELBOW MACARONI              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600538     4882148    ARR MEDIUM SHELL                           20   2/10 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600534     5588017    ARR ROTINI/GARDEN SPIRALS                  20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600535     5587993    ARR ROTINI/PLAIN                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600520     5750369    ARR SALAD SHELL                            20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              633532     5776935    ARR THIN SPAGHETTI                         20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600537     4882205    ARR ZITI                                   20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620530     5833991    ARR PENNE RIGATE                           30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660374     3038452    ARR LINGUINE                               30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660376     3038502    ARR SPAGHETTI                              30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660712     3038551    ARR FETTUCCINE                             30    6/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660380     3038593    ARR WIDE EGG NOODLE                        15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660381     3038791    ARR MEDIUM EGG NOODLE                      15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660382     3038692    ARR ELBOW MACARONI                         30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

LABELLA BULK:
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660777     4278206    PBB LASAGNA-RIDGED-10"                     12   12/1 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660078     6271522    PBB ACINI DI PEPE                          10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600769     4862967    PBB CAPELLINI/ANGEL HAIR 10"               20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600770     6040885    PBB CAVATAPPI                              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600771     4862694    PBB CAVATELLI                              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600772     4862728    PBB DITALINI/SALAD MACARONI                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660391     3022050    PBB FETTUCCINI 10" EGG                     20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660389     3022035    PBB FETTUCCINI 10" SPINACH                 20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660388     3021979    PBB FETTUCCINI 10" THICK                   20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600735     4862843    PBB FETTUCCINI 20"                         20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600778     4863015    PBB FINE EGG NOODLE                        10    2/5 LB                [*]                         [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660835     8386609    PBB GEMELLI                                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600737     4975595    PBB GIANT SHELLS                           10   1/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600782     4863023    PBB KLUSKI EGG NOODLE                      10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600783     4862793    PBB LARGE SHELLS                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600784     4933164    PBB LASAGNE RIDGED 20"                     10   1/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600785     4862876    PBB LINGUINE 20"                           20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

                                                    Exhibit 2.1
                                                 SYSCO PRICE LIST
                                                     EXCELSIOR

NOTE) Prices are FOB Plant.
                                                                                                    FORMER        FORMER         NEW BASELINE          NEW BASELINE
                           UPC                                                       PACK/         INVOICE          PER             INVOICE                PER
         SKU               CODE                    DESCRIPTION                        SIZE         UNIT LIST       LB/$            UNIT LIST               LB/$
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600740     6271530    PBB LONG FUSILLI                           10   1/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600786     4913117    PBB MACARONI ELBOW LARGE RIDGED            20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600773     5309554    PBB MAFALDA (MINI LASAGNA)                 10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600788     4913165    PBB MANICOTTI                               2    1/2 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600728     4786943    PBB MEDIUM SHELLS                          20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660101     8009169    PBB MINI PENNE RIGATE                      20   2/10 LB                [*]                         [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660789     4862736    PBB MOSTACCIOLI                            20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600725     4933172    PBB ORZO                                   20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600739     5878954    PBB PERCIATELLI                            20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600791     4913133    PBB RADIATORE                              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600792     6071450    PBB RIGATONI #1 (RIGATONICINI)             20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660827     4787263    PBB RIGATONI 2/5                           10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600793     5173166    PBB ROTELLI                                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620531     5833893    PBB ROTINI/PLAIN SPIRALS                   30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600795     4862777    PBB SMALL SHELLS                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600786     4862900    PBB SPAGHETTI 20"                          20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600800     4862975    PBB THIN SPAGHETTI 10"                     20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600799     4862892    PBB THIN SPAGHETTI 20"                     20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660313     2858876    PBB TRI-COLOR BOW TIES                     10    2/5 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660315     2858892    PBB TRI-COLOR MEDIUM SHELLS                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660312     2865863    PBB TRI-COLOR ORZO                         20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660314     2858884    PBB TRI-COLOR PENNE RIGATE                 20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600756     6663025    PBB WAGON WHEELS                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              630113     8032989    PBB XWIDE EGG NOODLE                       10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600801     4862835    PBB ZITI                                   20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660130     1562412    PBB ORECCHIETTE                            20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620534     5833264    PBB CAPELLI D'ANGELO                       30    6/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620105     7868078    PBB TRI-COLOR RADIATORE                    20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620104     7723547    PBB TRI-COLOR CAVATAPPI                    20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620401     6091938    PBB LASANGA/SMOOTH 10"                     12   12/1 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620532     5833975    PBB WIDE EGG NOODLE                        15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620533     5833785    PBB MEDIUM EGG NOODLE                      15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660375     3038486    PBB LINGUINE                               30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660377     3038510    PBB SPAGHETTI                              30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660713     3038783    PBB FETTUCCINI                             30    6/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660383     3038718    PBB ELBOW MACARONI                         30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

                                                    Exhibit 2.1
                                                 SYSCO PRICE LIST
                                                     EXCELSIOR

NOTE) Prices are FOB Plant.
                                                                                                    FORMER        FORMER         NEW BASELINE          NEW BASELINE
                           UPC                                                       PACK/         INVOICE          PER             INVOICE                PER
         SKU               CODE                    DESCRIPTION                        SIZE         UNIT LIST       LB/$            UNIT LIST               LB/$
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660384     3038924    PBB BOWTIES                                20    4/5 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660385     3038940    PBB ROTINI/GARDEN SPIRALS                  30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660386     3038965    PBB PENNE RIGATE                           30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

                                                    Exhibit 2.1
                                                 SYSCO PRICE LIST
                                                     COLUMBIA


NOTE) Prices are FOB Plant.
                                                                                                    FORMER        FORMER         NEW BASELINE          NEW BASELINE
                           UPC                                                       PACK/         INVOICE          PER             INVOICE                PER
         SKU               CODE                    DESCRIPTION                        SIZE         UNIT LIST       LB/$            UNIT LIST               LB/$
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
ARREZZIO BULK:
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600533     5587951    ARR DITALINI/SALAD MACARONI                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              630631     8341851    ARR HEAVY WALL ELBOW MACARONI              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600538     4882148    ARR MEDIUM SHELL                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600534     5588017    ARR ROTINI/GARDEN SPIRALS                  20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600535     5587993    ARR ROTINI/PLAIN                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600520     5750369    ARR SALAD SHELL                            20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              633532     5776935    ARR THIN SPAGHETTI                         20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600537     4882205    ARR ZITI                                   20   2/10 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620530     5833991    ARR PENNE RIGATE                           30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660374     3038452    ARR LINGUINE                               30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660376     3038502    ARR SPAGHETTI                              30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660712     3038551    ARR FETTUCCINE                             30    6/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660380     3038593    ARR WIDE EGG NOODLE                        15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660381     3038791    ARR MEDIUM EGG NOODLE                      15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660382     3038692    ARR ELBOW MACARONI                         30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------


- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
LABELLA BULK:
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660777     4278206    PBB LASAGNA-RIDGED-10"                     12   12/1 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660078     6271522    PBB ACINI DI PEPE                          10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600769     4862967    PBB CAPELLINI/ANGEL HAIR 10"               20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600770     6040885    PBB CAVATAPPI                              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600771     4862694    PBB CAVATELLI                              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600772     4862728    PBB DITALINI/SALAD MACARONI                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660391     3022050    PBB FETTUCCINI 10" EGG                     20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660389     3022035    PBB FETTUCCINI 10" SPINACH                 20    4/5 LB              [*]                            [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660388     3021979    PBB FETTUCCINI 10" THICK                   20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600735     4862843    PBB FETTUCCINI 20"                         20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600778     4863015    PBB FINE EGG NOODLE                        10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660835     8386609    PBB GEMELLI                                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600737     4975595    PBB GIANT SHELLS                           10   1/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600782     4863023    PBB KLUSKI EGG NOODLE                      10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600783     4862793    PBB LARGE SHELLS                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600784     4933164    PBB LASAGNE RIDGED 20"                     10   1/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------


                                                    Exhibit 2.1
                                                 SYSCO PRICE LIST
                                                     COLUMBIA


NOTE) Prices are FOB Plant.
                                                                                                    FORMER        FORMER         NEW BASELINE          NEW BASELINE
                           UPC                                                       PACK/         INVOICE          PER             INVOICE                PER
         SKU               CODE                    DESCRIPTION                        SIZE         UNIT LIST       LB/$            UNIT LIST               LB/$
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600785     4862876    PBB LINGUINE 20"                           20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600740     6271530    PBB LONG FUSILLI                           10   1/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600786     4913117    PBB MACARONI ELBOW LARGE RIDGED            20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600773     5309554    PBB MAFALDA (MINI LASAGNA)                 10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600788     4913165    PBB MANICOTTI                               2    1/2 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600728     4786943    PBB MEDIUM SHELLS                          20   2/10 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660101     8009169    PBB MINI PENNE RIGATE                      20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660789     4862736    PBB MOSTACCIOLI                            20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600725     4933172    PBB ORZO                                   20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600739     5878954    PBB PERCIATELLI                            20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600791     4913133    PBB RADIATORE                              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600792     6071450    PBB RIGATONI #1 (RIGATONICINI)             20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660827     4787263    PBB RIGATONI 2/5                           10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600793     5173166    PBB ROTELLI                                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620531     5833893    PBB ROTINI/PLAIN SPIRALS                   30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600795     4862777    PBB SMALL SHELLS                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600736     4862900    PBB SPAGHETTI 20"                          20   1/20 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600800     4862975    PBB THIN SPAGHETTI 10"                     20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600799     4862892    PBB THIN SPAGHETTI 20"                     20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660313     2858876    PBB TRI-COLOR BOW TIES                     10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660315     2858892    PBB TRI-COLOR MEDIUM SHELLS                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660312     2865863    PBB TRI-COLOR ORZO                         20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660314     2858884    PBB TRI-COLOR PENNE RIGATE                 20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600756     6663025    PBB WAGON WHEELS                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              630113     8032989    PBB XWIDE EGG NOODLE                       10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600801     4862835    PBB ZITI                                   20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660130     1562412    PBB ORECCHIETTE                            20    4/5 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620534     5833264    PBB CAPELLI D'ANGELO                       30    6/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620105     7868078    PBB TRI-COLOR RADIATORE                    20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620104     7723547    PBB TRI-COLOR CAVATAPPI                    20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620401     6091938    PBB LASANGA/SMOOTH 10"                     12   12/1 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620532     5833975    PBB WIDE EGG NOODLE                        15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620533     5833785    PBB MEDIUM EGG NOODLE                      15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660375     3038486    PBB LINGUINE                               30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660377     3038510    PBB SPAGHETTI                              30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

                                                    Exhibit 2.1
                                                 SYSCO PRICE LIST
                                                     COLUMBIA


NOTE) Prices are FOB Plant.
                                                                                                    FORMER        FORMER         NEW BASELINE          NEW BASELINE
                           UPC                                                       PACK/         INVOICE          PER             INVOICE                PER
         SKU               CODE                    DESCRIPTION                        SIZE         UNIT LIST       LB/$            UNIT LIST               LB/$
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660713     3038783    PBB FETTUCCINI                             30    6/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660383     3038718    PBB ELBOW MACARONI                         30   3/10 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660384     3038924    PBB BOWTIES                                20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660385     3038940    PBB ROTINI/GARDEN SPIRALS                  30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660386     3038965    PBB PENNE RIGATE                           30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

                                                    Exhibit 2.1
                                                 SYSCO PRICE LIST
                                                     TOLLESON

NOTE) Prices are FOB Plant.

                                                                                                    FORMER        FORMER         NEW BASELINE          NEW BASELINE
                           UPC                                                       PACK/         INVOICE          PER             INVOICE                PER
         SKU               CODE                    DESCRIPTION                        SIZE         UNIT LIST       LB/$            UNIT LIST               LB/$
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
ARREZZIO BULK:
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600533     5587951    ARR DITALINI/SALAD MACARONI                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              630631     8341851    ARR HEAVY WALL ELBOW MACARONI              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600538     4882148    ARR MEDIUM SHELL                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600534     5588017    ARR ROTINI/GARDEN SPIRALS                  20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600535     5587993    ARR ROTINI/PLAIN                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600520     5750369    ARR SALAD SHELL                            20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              633532     5776935    ARR THIN SPAGHETTI                         20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600537     4882205    ARR ZITI                                   20   2/10 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620530     5833991    ARR PENNE RIGATE                           30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660374     3038452    ARR LINGUINE                               30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660376     3038502    ARR SPAGHETTI                              30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660712     3038551    ARR FETTUCCINE                             30    6/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660380     3038593    ARR WIDE EGG NOODLE                        15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660381     3038791    ARR MEDIUM EGG NOODLE                      15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660382     3038692    ARR ELBOW MACARONI                         30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
LABELLA BULK:
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660777     4278206    PBB LASAGNA-RIDGED-10"                     12   12/1 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660078     6271522    PBB ACINI DI PEPE                          10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600769     4862967    PBB CAPELLINI/ANGEL HAIR 10"               20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600770     6040885    PBB CAVATAPPI                              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600771     4862694    PBB CAVATELLI                              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600772     4862728    PBB DITALINI/SALAD MACARONI                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660391     3022050    PBB FETTUCCINI 10" EGG                     20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660389     3022035    PBB FETTUCCINI 10" SPINCH                  20    4/5 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660388     3021979    PBB FETTUCCINI 10" THICK                   20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600735     4862843    PBB FETTUCCINI 20"                         20   1/20 LB
- --------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600778     4863015    PBB FINE EGG NOODLE                        10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660835     8386609    PBB GEMELLI                                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600737     4975595    PBB GIANT SHELLS                           10   1/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600782     4863023    PBB KLUSKI EGG NOODLE                      10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600783     4862793    PBB LARGE SHELLS                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600784     4933164    PBB LASAGNE RIDGED 20"                     10   1/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600785     4862876    PBB LINGUINE 20"                           20   1/20 LB


                                                    Exhibit 2.1
                                                 SYSCO PRICE LIST
                                                     TOLLESON


NOTE) Prices are FOB Plant.
                                                                                                    FORMER        FORMER         NEW BASELINE          NEW BASELINE
                           UPC                                                       PACK/         INVOICE          PER             INVOICE                PER
         SKU               CODE                    DESCRIPTION                        SIZE         UNIT LIST       LB/$            UNIT LIST               LB/$
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600740     6271530    PBB LONG FUSILLI                           10   1/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600786     4913117    PBB MACARONI ELBOW LARGE RIDGED            20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600773     5309554    PBB MAFALDA (MINI LASAGNA)                 10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600788     4913165    PBB MANICOTTI                               2    1/2 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600728     4786943    PBB MEDIUM SHELLS                          20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660101     8009169    PBB MINI PENNE RIGATE                      20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660789     4862736    PBB MOSTACCIOLI                            20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600725     4933172    PBB ORZO                                   20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600739     5878954    PBB PERCIATELLI                            20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600791     4913133    PBB RADIATORE                              20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600792     6071450    PBB RIGATONI #1 (RIGATONICINI)             20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660827     4787263    PBB RIGATONI 2/5                           10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600793     5173166    PBB ROTELLI                                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620531     5833893    PBB ROTINI/PLAIN SPIRALS                   30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600795     4862777    PBB SMALL SHELLS                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600736     4862900    PBB SPAGHETTI 20"                          20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600800     4862975    PBB THIN SPAGHETTI 10"                     20   2/10 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600799     4862892    PBB THIN SPAGHETTI 20"                     20   1/20 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660313     2858876    PBB TRI-COLOR BOW TIES                     10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660315     2858892    PBB TRI-COLOR MEDIUM SHELLS                20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660312     2865863    PBB TRI-COLOR ORZO                         20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660314     2858884    PBB TRI-COLOR PENNE RIGATE                 20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600756     6663025    PBB WAGON WHEELS                           20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              630113     8032989    PBB XWIDE EGG NOODLE                       10    2/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              600801     4862835    PBB ZITI                                   20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660130     1562412    PBB ORECCHIETTE                            20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620534     5833264    PBB CAPELLI D'ANGELO                       30    6/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620105     7868078    PBB TRI-COLOR RADIATORE                    20   2/10 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620104     7723547    PBB TRI-COLOR CAVATAPPI                    20   2/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620401     6091938    PBB LASANGA/SMOOTH 10"                     12   12/1 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620532     5833975    PBB WIDE EGG NOODLE                        15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              620533     5833785    PBB MEDIUM EGG NOODLE                      15    3/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660375     3038486    PBB LINGUINE                               30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660377     3038510    PBB SPAGHETTI                              30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660713     3038783    PBB FETTUCCINI                             30    6/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660383     3038718    PBB ELBOW MACARONI                         30   3/10 LB             [*]                              [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

                                                    Exhibit 2.1
                                                 SYSCO PRICE LIST
                                                     TOLLESON


NOTE) Prices are FOB Plant.
                                                                                                    FORMER        FORMER         NEW BASELINE          NEW BASELINE
                           UPC                                                       PACK/         INVOICE          PER             INVOICE                PER
         SKU               CODE                    DESCRIPTION                        SIZE         UNIT LIST       LB/$            UNIT LIST               LB/$
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660384     3038924    PBB BOWTIES                                20    4/5 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660385     3038940    PBB ROTINI/GARDEN SPIRALS                  30   3/10 LB             [*]                         [*]
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------
              660386     3038965    PBB PENNE RIGATE                           30   3/10 LB
- -------------------------------------------------------------------------------    -----------  ----------------------------   ----------------------------------------

                                                    Exhibit 2.3
                                              Baseline Semolina Cost


                                                 Excelsior Springs            Columbia                Tolleson
                                                 -------------------     --------------------     -----------------

[*]

                                                 Exhibit 2-4(a)-1
                                              Baseline Packaging Cost


     Item Number                                 Description           Unit of Measure       Baseline Cost
     -----------                                 -----------           ---------------       -------------
           500641      PBB*(FL50)-LONG GOODS-5#                     1 Impression
           500343      PBB*(FLB1) LONG GOOD                         1 Impression
           500342      PBB*(FSB1)-EGG NOODLE                        1 Impression
           500340      PBB*(FSB1)-SHORT GOOD                        1 Impression
           500190      CLR*(FLB1)LONG GOOD-10#                      1 Impression
           500189      CLR*(FSB1)-SHORT GOOD                        1 Impression
           401029      RET*CTN-LASAGNE-NO WNDW/PLAIN                1 Carton
           201204      BOX-PBB(BF08)                                1 Box
           201136      BOX-PBB(BB04) LASAGNA-12/1                   1 Box
           201135      BOX-PBB(BE31) SHORT GOODS                    1 Box
           201134      BOX-PBB(BE29) SHORT GOODS                    1 Box
           201133      BOX-ARR(BE28) SHORT GOODS                    1 Box
           201132      BOX-PBB(BE32) SHORT GOODS                    1 Box                        [*]
           201131      BOX-PBB(BF12) LONG GOODS                     1 Box
           201123      BOX-ARR(BD25) LONG GOODS                     1 Box
           201122      BOX-PBB(BD25) LONG GOODS                     1 Box
           201120      BOX-PBB(BD04) LONG GOODS                     1 Box
           201004      BOX-ARR(BF12) SPAGHETTI-3/10                 1 Box
           201003      BOX-ARR(BF12) LINGUINE-3/10                  1 Box
           200715      BOX-PBB(BE07) SHORT GOODS                    1 Box
           200585      BOX-PBB(BF01) FETTUCCINE-20"                 1 Box
           200583      BOX-PBB(BF04) LONG GOODS-20"                 1 Box
           200578      BOX-PBB(BF09) LONG GOODS-10"                 1 Box
           200573      BOX-PBB(BE05) SHORT GOODS                    1 Box
           200568      BOX-PBB(BE01) SHORT GOODS                    1 Box
           200567      BOX-PBB(BE04) SHORT GOODS                    1 Box
           200566      BOX-PBB(BE02) SHORT GOODS                    1 Box
           200565      BOX-PBB(BE20) SHORT GOODS                    1 Box
           200564      BOX-PBB(BE03) SHORT GOODS                    1 Box
           200531      BOX-ARR(BF09) LNG GDS-new                    1 Box
           200529      BOX-ARR(BE20) SG                             1 Box
           200525      BOX-ARR(BE01) SHORT GOODS                    1 Box
           200524      BOX-ARR(BE02) SHORT GOODS                    1 Box                          [*]

     Item Number                                 Description       Unit of Measure       Baseline Cost
     -----------                                 -----------       ---------------       -------------
           200523      BOX-ARR(BE04) SHORT GOODS                1 Box
           200522      BOX-ARR(BE03) SHORT GOODS                1 Box
           200419      BOX-PBB(BF01) LSGN/RDGD-20"              1 Box
           200384      BOX-PBB(BE28) PENNE RIGTE-3/10           1 Box
           200382      BOX-PBB(BE28) BOWTIES-4/5#               1 Box                           [*]
           200381      BOX-PBB(BE30) ELBOW MAC-3/10             1 Box
           200380      BOX-ARR(BE30) ELBOW MAC-3/10             1 Box
           200379      BOX-ARR(BE31) MED NOODLES-3/5            1 Box
           200378      BOX-ARR(BE32) WIDE NOODLES-3/5           1 Box
           100140      LASAGNE DIVIDER-20"                      1 Box
           100138      LASAGNE DIVIDER-10"                      1 Box

                                                 Exhibit 2-4(a)-2
                                               Other Packaging Data

                                                                   Finished                                                   Film /    Film / Box   Film /     Film /
                                                                   Good Pasta   Film /                                        Box       Quantity     Box        Box Cost
Finished Good    Finished                                          / Lbs per    Box Item                                      Baseline  Required     Total      per
SKU #            Good Label  Finished Good Description             Case         Number     Film / Box Description             Cost      per FG SKU   Cost       Pasta lb.
- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
600725           PBB         ROSAMARINA                            20           200715     BOX-PBB (BE07) SHORT GOODS
600725           PBB         ROSAMARINA                            20           500340     PBB*(FSB1)-SHORT GOOD
600728           PBB         MEDIUM SHELLS                         20           200567     BOX-PBB (BE04) SHORT GOODS                      [*]
600728           PBB         MEDIUM SHELLS                         20           500340     PBB*(FSB1)-SHORT GOOD
600735           PBB         FETTUCCINE-20"-1/20                   20           200585     BOX-PBB (BF01) FETTUCCINE-20"
600736           PBB         SPAGHETTI-20"-1/20                    20           200583     BOX-PBB (BF04) LONG GOODS 20"
600739           PBB         PERCIATELLI-10"-1/20                  20           201204     BOX-PBB (BF08)
600739           PBB         PERCIATELLI-10"-1/20                  20           100138     LASAGNE DIVIDER-10"
600756           PBB         WAGON WHEELS                          20           200573     BOX-PBB (BE05) SHORT GOODS
600756           PBB         WAGON WHEELS                          20           500340     PBB*(FSB1)-SHORT GOOD
600769           PBB         CAPELLINI/ANGEL HAIR-10"              20           200578     BOX-PBB (BF09) LONG GOODS-10"
600769           PBB         CAPELLINI/ANGEL HAIR-10"              20           500343     PBB*(FLB1) LONG GOOD
600770           PBB         CAVATAPPI                             20           200567     BOX-PBB (BE04) SHORT GOODS
600770           PBB         CAVATAPPI                             20           500340     PBB*(FSB1)-SHORT GOOD
600771           PBB         CAVATELLI                             20           200573     BOX-PBB (BE05) SHORT GOODS
600771           PBB         CAVATELLI                             20           500340     PBB*(FSB1)-SHORT GOOD
600772           PBB         DITALINI/SALAD MACARONI               20           200566     BOX-PBB (BE02) SHORT GOODS
600772           PBB         DITALINI/SALAD MACARONI               20           500340     PBB*(FSB1)-SHORT GOOD
600773           PBB         DUMPLING/MAFALA-2/5-1.125"            10           200564     BOX-PBB (BE03) SHORT GOODS
600773           PBB         DUMPLING/MAFALA-2/5-1.125"            10           500340     PBB*(FSB1)-SHORT GOOD
600778           PBB         FINE EGG NOODLE-2/5                   10           200566     BOX-PBB (BE02) SHORT GOODS
600778           PBB         FINE EGG NOODLE-2/5                   10           500342     PBB*(FSB1)-EGG NOODLE                           [*]
600782           PBB         KLUSKI EGG NOODLE-2/5                 10           200566     BOX-PBB (BE02) SHORT GOODS
600782           PBB         KLUSKI EGG NOODLE-2/5                 10           500342     PBB*(FSB1)-EGG NOODLE
600783           PBB         LARGE SHELLS                          20           200567     BOX-PBB (BE04) SHORT GOODS
600783           PBB         LARGE SHELLS                          20           500340     PBB*(FSB1)-SHORT GOOD
600784           PBB         LASAGNE-RIDGED 20"-1/10               10           100140     LASAGNE DIVIDER-20"
600784           PBB         LASAGNE-RIDGED 20"-1/10               10           200419     BOX-PBB (BF01) LSGN/RDGD-20"
600785           PBB         LINGUINE-20"-1/20                     20           200583     BOX-PBB (BF04) LONG GOODS-20"
600786           PBB         MACARONI-ELBOW LG RIDGED              20           200567     BOX-PBB (BE04) SHORT GOODS
600786           PBB         MACARONI-ELBOW LG RIDGED              20           500340     PBB*(FSB1)-SHORT GOOD
600789           PBB         MOSTACCIOLI                           20           200564     BOX-PBB (BE03) SHORT GOODS
600789           PBB         MOSTACCIOLI                           20           500340     PBB*(FSB1)-SHORT GOOD
600791           PBB         RADIATORE                             20           200567     BOX-PBB (BE04) SHORT GOODS
600791           PBB         RADIATORE                             20           500340     PBB*(FSB1)-SHORT GOOD
600792           PBB         RIGATONCINI                           20           200573     BOX-PBB (BE05) SHORT GOODS
600792           PBB         RIGATONCINI                           20           500340     PBB*(FSB1)-SHORT GOOD
600793           PBB         ROTELLI                               20           200567     BOX-PBB (BE04) SHORT GOODS
600793           PBB         ROTELLI                               20           500340     PBB*(FSB1)-SHORT GOOD
600795           PBB         SMALL SHELLS                          20           200564     BOX-PBB (BE03) SHORT GOODS

                                                                   Finished
                                                                   Good Pasta   Film /
Finished Good    Finished                                          / Lbs per    Box Item
SKU #            Good Label  Finished Good Description             Case         Number     Film / Box Description
- ------------------------------------------------------------------------------------------------------------------------------------
600795           PBB         SMALL SHELLS                          20           500340     PBB*(FSB1)-SHORT GOOD
600799           PBB         VERMICELLI/T SPAG-20"-1/20            20           200583     BOX-PBB (BF04) LONG GOODS-20"
600800           PBB         VERMICELLI/T SPAGHETTI-10"            20           200578     BOX-PBB (BF09) LONG GOODS 10"                           [*]
600800           PBB         VERMICELLI/T SPAGHETTI-10"            20           500343     PBB*(FLB1) LONG GOOD
600801           PBB         ZITI                                  20           200564     BOX-PBB (BE03) SHORT GOODS
600801           PBB         ZITI                                  20           500340     PBB*(FSB1)-SHORT GOOD
620104           PBB         CAVATAPPI/TRI-COLOR                   20           200567     BOX-PBB (BE04) SHORT GOODS
620104           PBB         CAVATAPPI/TRI-COLOR                   20           500340     PBB*(FSB1)-SHORT GOOD
620105           PBB         RADIATORE/TRI-COLOR                   20           200567     BOX-PBB (BE04) SHORT GOODS
620105           PBB         RADIATORE/TRI-COLOR                   20           500340     PBB*(FSB1)-SHORT GOOD
620401           PBB         LASAGNA/SMOOTH-10"-12/1               12           201136     BOX-PBB (BB04) LASAGNA-12/1
620401           PBB         LASAGNA/SMOOTH-10"-12/1               12           401029     RET*CTN-LASAGNE-NO WNDW/PLAIN
620531           PBB         ROTINI/PLAIN SPIRALS-3/10             30           201134     BOX-PBB (BE29) SHORT GOODS
620531           PBB         ROTINI/PLAIN SPIRALS-3/10             30           500340     PBB*(FSB1)-SHORT GOOD
620532           PBB         WIDE EGG NOODLE-3/5                   15           201132     BOX-PBB (BE32) SHORT GOODS
620532           PBB         WIDE EGG NOODLE-3/5                   15           500342     PBB*(FSB1)-EGG NOODLE
620533           PBB         MEDIUM EGG NOODLE-3/5                 15           201135     BOX-PBB (BE31) SHORT GOODS
620533           PBB         MEDIUM EGG NOODLE-3/5                 15           500342     PBB*(FSB1)-EGG NOODLE
620534           PBB         CAPELLI D'ANGELO-6/5                  30           201122     BOX-PBB (BD25) LONG GOODS
620534           PBB         CAPELLI D'ANGELO-6/5                  30           500641     PBB*(FL50)-LONG GOODS-5#
630113           PBB         EXTRA WIDE EGG NOODLES-2/5            10           200573     BOX-PBB (BE05) SHORT GOODS
630113           PBB         EXTRA WIDE EGG NOODLES-2/5            10           500342     PBB*(FSB1)-EGG NOODLE
660101           PBB         MINI PENNE RIGATE-2/10                20           200566     BOX-PBB (BE02) SHORT GOODS                              [*]
660101           PBB         MINI PENNE RIGATE-2/10                20           500340     PBB*(FSB1)-SHORT GOOD
660130           PBB         ORECCHIETTE/SMOOTH-4/5                20           200565     BOX-PBB (BE20) SHORT GOODS
660312           PBB         ROSAMARINA/GARDEN 2/10#               20           200715     BOX-PBB (BE07) SHORT GOODS
660312           PBB         ROSAMARINA/GARDEN 2/10#               20           500340     PBB*(FSB1)-SHORT GOOD
660313           PBB         BOW TIES/GARDEN-2/5                   10           200568     BOX-PBB (BE01) SHORT GOODS
660313           PBB         BOW TIES/GARDEN-2/5                   10           500340     PBB*(FSB1)-SHORT GOOD
660314           PBB         PENNE RIGATE/TRICOLOR-2/10            20           200564     BOX-PBB (BE03) SHORT GOODS
660314           PBB         PENNE RIGATE/TRICOLOR-2/10            20           500340     PBB*(FSB1)-SHORT GOOD
660315           PBB         MEDIUM SHELLS/GARDEN 2/10             20           200567     BOX-PBB (BE04) SHORT GOODS
660315           PBB         MEDIUM SHELLS/GARDEN 2/10             20           500340     PBB*(FSB1)-SHORT GOOD
660375           PBB         LINGUINE 10" 3/10                     30           201131     BOX-PBB (BF12) LONG GOODS
660375           PBB         LINGUINE 10" 3/10                     30           500343     PBB*(FLB1) LONG GOOD
660377           PBB         SPAGHETTI-10" 3/10                    30           201131     BOX-PBB (BF12) LONG GOODS                               [*]
660377           PBB         SPAGHETTI-10" 3/10                    30           500343     PBB*(FLB1) LONG GOOD
660383           PBB         MACARONI-ELBOW 3/10                   30           200381     BOX-PBB (BE30) ELBOW MAC-3/10
660383           PBB         MACARONI-ELBOW 3/10                   30           500340     PBB*(FSB1)-SHORT GOOD
660384           PBB         BOW TIES-4/5                          20           200382     BOX-PBB (BE28) BOWTIES-4/5#
660384           PBB         BOW TIES-4/5                          20           500340     PBB*(FSB1)-SHORT GOOD
660385           PBB         ROTINI/GARDEN SPIRALS-3/10            30           201134     BOX-PBB (BE29) SHORT GOODS
660385           PBB         ROTINI/GARDEN SPIRALS-3/10            30           500340     PBB*(FSB1)-SHORT GOOD
660386           PBB         PENNE RIGATE/HW-3/10                  30           200384     BOX-PBB (BE28) PENNE RIGTE-3/10

                                                                   Finished
                                                                   Good Pasta   Film /
Finished Good    Finished                                          / Lbs per    Box Item
SKU #            Good Label  Finished Good Description             Case         Number     Film / Box Description
- ------------------------------------------------------------------------------------------------------------------------------------
660386           PBB         PENNE RIGATE/HW-3/10                  30           500340     PBB*(FSB1)-SHORT GOOD
660388           PBB         FETTUCCINE-THICK-10"-4/5#             20           201120     BOX-PBB (BD04) LONG GOODS
660388           PBB         FETTUCCINE-THICK-10"-4/5#             20           500343     PBB*(FLB1) LONG GOOD
660389           PBB         FETT-SPINACH-10"-4/5#                 20           201120     BOX-PBB (BD04) LONG GOODS
660389           PBB         FETT-SPINACH-10"-4/5#                 20           500343     PBB*(FLB1) LONG GOOD
660391           PBB         FETTUCCINE-EGG-10"-4/5#               20           201120     BOX-PBB (BD04) LONG GOODS                               [*]
660391           PBB         FETTUCCINE-EGG-10"-4/5#               20           500343     PBB*(FLB1) LONG GOOD
660713           PBB         FETTUCCINE-10"-6/5#                   30           201122     BOX-PBB (BD25) LONG GOODS
660713           PBB         FETTUCCINE-10"-6/5#                   30           500343     PBB*(FLB1) LONG GOOD
660777           PBB         LASAGNA-RIDGED 10"-12/1               12           201136     BOX-PBB (BB04) LASAGNA-12/1
660777           PBB         LASAGNA-RIDGED 10"-12/1               12           401029     RET*CTN-LASAGNE-NO WNDW/PLAIN
660827           PBB         RIGATONI/HW-(1.25")-2/5               10           200568     BOX-PBB (BE01) SHORT GOODS
660827           PBB         RIGATONI/HW-(1.25")-2/5               10           500340     PBB*(FSB1)-SHORT GOOD
660835           PBB         GEMELLI-2/10                          20           200564     BOX-PBB (BE03) SHORT GOODS
660835           PBB         GEMELLI-2/10                          20           500340     PBB*(FSB1)-SHORT GOOD

600520           ARR         SALAD SHELL                           20           200529     BOX-ARR (BE20) SG
600520           ARR         SALAD SHELL                           20           500189     CLR*(FSB1)-SHORT GOOD
600532           ARR         VERMICELLI/T SPAGHETTI-10"            20           200531     BOX-ARR (BF09) LNG GDS-NEW
600532           ARR         VERMICELLI/T SPAGHETTI-10"            20           500190     CLR*(FLB1) LONG GOOD-10#
600533           ARR         DITALINI/SAL MAC                      20           200524     BOX-ARR (BE02) SHORT GOODS
600533           ARR         DITALINI/SAL MAC                      20           500189     CLR*(FSB1)-SHORT GOOD
600534           ARR         ROTINI/GARDEN SPIRALS                 20           200529     BOX-ARR (BE20) SG
600534           ARR         ROTINI/GARDEN SPIRALS                 20           500189     CLR*(FSB1)-SHORT GOOD
600535           ARR         ROTINI/PLAIN SPIRALS                  20           200529     BOX-ARR (BE20) SG
600535           ARR         ROTINI/PLAIN SPIRALS                  20           500189     CLR*(FSB1)-SHORT GOOD
600537           ARR         ZITI                                  20           200522     BOX-ARR (BE03) SHORT GOODS
600537           ARR         ZITI                                  20           500189     CLR*(FSB1)-SHORT GOOD
600538           ARR         MEDIUM SHELLS                         20           200523     BOX-ARR (BE04) SHORT GOODS
600538           ARR         MEDIUM SHELLS                         20           500189     CLR*(FSB1)-SHORT GOOD
620530           ARR         PENNE RIGATE-3/10 (2"targt)           30           201133     BOX-ARR (BE28) SHORT GOODS                           [*]
620530           ARR         PENNE RIGATE-3/10 (2"targt)           30           500189     CLR*(FSB1)-SHORT GOOD
630631           ARR         ELBOW MAC/THICK WALL                  20           200525     BOX-ARR (BE01) SHORT GOODS
630631           ARR         ELBOW MAC/THICK WALL                  20           500189     CLR*(FSB1)-SHORT GOOD
660374           ARR         LINGUINE-10" 3/10                     30           201003     BOX-ARR (BF12) LINGUINE-3/10
660374           ARR         LINGUINE-10" 3/10                     30           500190     CLR*(FLB1) LONG GOOD-10#
660376           ARR         SPAGHETTI-10" 3/10                    30           201004     BOX-ARR (BF12) SPAGHETTI-3/10
660376           ARR         SPAGHETTI-10" 3/10                    30           500190     CLR*(FLB1) LONG GOOD-10#
660380           ARR         WIDE EGG NOODLE-3/5                   15           200378     BOX-ARR (BE32) WIDE NOODLES-3/5
660380           ARR         WIDE EGG NOODLE-3/5                   15           500189     CLR*(FSB1)-SHORT GOOD
660381           ARR         MEDIUM EGG NOODLE-3/5                 15           200379     BOX-ARR (BE31) MED NOODLES-3/5
660381           ARR         MEDIUM EGG NOODLE-3/5                 15           500189     CLR*(FSB1)-SHORT GOOD
660382           ARR         MACARONI-ELBOW 3/10                   30           200380     BOX-ARR (BE30) ELBOW MAC-3/10
660382           ARR         MACARONI-ELBOW 3/10                   30           500189     CLR*(FSB1)-SHORT GOOD

                                                                   Finished
                                                                   Good Pasta   Film /
Finished Good    Finished                                          / Lbs per    Box Item
SKU #            Good Label  Finished Good Description             Case         Number     Film / Box Description
- ------------------------------------------------------------------------------------------------------------------------------------

660712           ARR         FETTUCCINE-10"-6/5#                   30           201123     BOX-ARR (BD25) LONG GOODS
660712           ARR         FETTUCCINE-10"-6/5#                   30           500190     CLR*(FLB1) LONG GOOD-10#

                                                    Exhibit 2.5
                                           Baseline Transportation Cost

    SKU's Transferred from Excelsior Springs to Columbia:                       SKU's Transferred from Excelsior Springs to Tolleson:

   630631 ARR   HEAVY WALL ELBOW MACARONI                                     630631 ARR   HEAVY WALL ELBOW MACARONI
   660712 ARR   FETTUCINE                                                     660712 ARR   FETTUCINE
   660777 PBB   LASAGNA-RIDGED-10"                                            660777 PBB   LASAGNA-RIDGED-10"
   660078 PBB   ACINI DI PEPE                                                 660078 PBB   ACINI DI PEPE
   600771 PBB   CAVATELLI                                                     600770 PBB   CAVATAPPI
   660391 PBB   FETTUCCINI 10" EGG                                            660391 PBB   FETTUCCINE 10" EGG
   660389 PBB   FETTUCCINE 10" SPINACH                                        660389 PBB   FETTUCCINE 10" SPINACH
   660388 PBB   FETTUCCINE 10" THICK                                          660388 PBB   FETTUCCINE 10" THICK
   600735 PBB   FETTUCCINE 20"                                                600735 PBB   FETTUCCINE 20"
   600737 PBB   GIANT SHELLS                                                  600778 PBB   FINE EGG NOODLE
   600782 PBB   KLUSKI EGG NOODLE                                             660835 PBB   GEMELLI
   600783 PBB   LARGE SHELLS                                                  600737 PBB   GIANT SHELLS
   600784 PBB   LASAGNE RIDGED 20"                                            600782 PBB   KLUSKI EGG NOODLE
   600785 PBB   LINGUINE 20"                                                  600783 PBB   LARGE SHELLS
   600740 PBB   LONG FUSILLI                                                  600784 PBB   LASAGNE RIDGED 20"
   600786 PBB   MACARONI ELBOW LARGE RIDGED                                   600785 PBB   LINGUINE 20"
   600773 PBB   MAFALDA (MINI LASAGNA)                                        600786 PBB   MACARONI ELBOW LARGE RIDGED
   600788 PBB   MANICOTTI                                                     600773 PBB   MAFALDA (MINI LASAGNA)
   660101 PBB   MINI PENNE RIGATE                                             600788 PBB   MANICOTTI
   600739 PBB   PERCIATELLI                                                   660101 PBB   MINI PENNE RIGATE
   600792 PBB   RIGATONI #1 (RIGATONICINI)                                    600725 PBB   ORZO
   660827 PBB   RIGATONI 2/5                                                  600739 PBB   PERCIATELLI
   600736 PBB   SPAGHETTI 20"                                                 660827 PBB   RIGATONI 2/5
   600799 PBB   THIN SPAGHETTI 20"                                            600736 PBB   SPAGHETTI 20"
   660315 PBB   TRI-COLOR MEDIUM SHELLS                                       600799 PBB   THIN SPAGHETTI 20"
   660312 PBB   TRI-COLOR ORZO                                                660313 PBB   TRI-COLOR BOW TIES
   660314 PBB   TRI-COLOR PENNE RIGATE                                        660312 PBB   TRI-COLOR ORZO
   600756 PBB   WAGON WHEELS                                                  600756 PBB   WAGON WHEELS
   660130 PBB   ORECCHIETTE                                                   660130 PBB   ORECCHIETTE
   620105 PBB   TRI-COLOR RADIATORE                                           620105 PBB   TRI-COLOR RADIATORE
   620104 PBB   TRI-COLOR CAVATAPPI                                           620104 PBB   TRI-COOR CAVATAPPI
   620401 PBB   LASANGA/SMOOTH 10"                                            620401 PBB   LASANGA/SMOOTH 10"
   660713 PBB   FETTUCCINE                                                    660384 PBB   BOWTIES

Transportation Costs:

                                                                                                                Per Pasta Pound
                             To                                          From                                 Transportation Cost*
                 ----------------------------                  --------------------------                   -------------------------

                 Columbia, S.C.                                Excelsior Springs, MO                                [*]
                 Tolleson, AZ                                  Excelsior Springs, MO                                [*]

*Includes both freight and premium for double handling.

                                                    Exhibit 2.6
                                         Baseline Average Piece Pick Cost



Piece Pick Cost per pasta lb.                                                           [*]
Percentage of Pieces Picked                                                             [*]
                                                                                  ----------------
Baseline Average Piece Pick Cost per pasta pound                                        [*]

                                                    Exhibit 2.7
                                              Baseline Additives Cost

                                                                                                                              Baseline
                                                                                                                              Per Pasta
              Finished                                      Baseline Baseline Baseline                                       Pound
  Finished    Good                                            Egg     Tomato   Spinach                                        Additive
 Good SKU #    Label         Finished Good Description         Cost*   Cost*    Cost*   Egg %**  Tomato %**  Spinach %**         Cost
- --------------------------------------------------------------------------------------------------------------------------  -------------
Sku-600778      PBB   FINE EGG NOODLE-2/5
Sku-600779      PBB   GARDEN ROTELLI
Sku-600782      PBB   KLUSKI EGG NOODLE-2/5
Sku-620104      PBB   CAVATAPPI/TRI-COLOR
Sku-620105      PBB   RADIATORE/TRI-COLOR
Sku-620532      PBB   WIDE EGG NOODLE-3/5
Sku-620533      PBB   MEDIUM EGG NOODLE-3/5
Sku-630133      PBB   EXTRA WIDE EGG NOODLES-2/5
Sku-660311      PBB   ELBOW MAC/TRI-COLOR-2/10
Sku-660312      PBB   ROSAMARINA/GARDEN 2/10#
Sku-660313      PBB   BOW TIES/GARDEN-2/5
Sku-660314      PBB   PENNE RIGATE/TRICOLOR-2/10                                            [*]
Sku-660315      PBB   MEDIUM SHELLS/GARDEN 2/10
Sku-660385      PBB   ROTINI/GARDEN SPIRALS-3/10
Sku-660389      PBB   FETT-SPINACH-10-4/5#
Sku-660391      PBB   FETTUCCINE-EGG-10-4/5#

Sku-600534      ARR   ROTINI/GARDEN SPIRALS
Sku-660380      ARR   WIDE EGG NOODLE-3/5
Sku-660381      ARR   MEDIUM EGG NOODLE-3/5
Sku-660393      ARR   FETT/SPIN-4/5#

*    Unit of Measure = Pounds of Additive

** Considers both the additive level of the individual noodle and the % of such
noodles in the bag.

                                                    Exhibit 2.8
                                             Baseline Co-Packing Cost

                                                                                           Baseline Cost
    Item Number                                  Description                                  Per lb.
- ---------------------          -------------------------------------------------         ------------------
Sku-600737                     PBB GIANT SHELLS-1/10                                            [*]
Sku-600740                     PBB LONG FUSILLI 1/10                                            [*]
Sku-600788                     PBB MANICOTTI-1/2                                                [*]
Sku-660078                     PBB ACINI DI PEPE-2/5#                                           [*]
Sku-660130                     PBB ORECCHIETTE/SMOOTH-4/5                                       [*]

                                                    Exhibit 2.9
                                             Baseline Conversion Costs



                                               FY 2002
                                        ----------------------

Production Pounds                                [*]

Payroll                                          [*]
Utilities                                        [*]
Repairs and Maintenance                          [*]
Supplies                                         [*]
Quality Control                                  [*]
Insurance                                        [*]

                                        ----------------------
         Total                                   [*]

Total per lb.                                    [*]

                                                    Exhibit 6.3
                                              Insurance Requirements



         Coverage                                                              Limits
         --------                                                              ------
Workers' Compensation                                        Statutory Benefits

Employers' Liability                                         $500,000 Each Accident
                                                             $500,000 Each Employee
                                                             $500,000 Policy Limit

General Liability                                            $1,000,000 Products, Completed Operations
                                                             $2,000,000 Aggregate

Auto Liability                                               $1,000,000 Per Occurrence
                                                             $2,000,000 Aggregate

Umbrella                                                     $5,000,000 Per Occurrence

EX-31

                                  CERTIFICATION


I, Timothy S. Webster, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of American Italian
     Pasta Company;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this report;

4.   The registrant's other certifying officer(s) and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-15(e) and 15d-15(e))for the registrant and have:

     a)   designed such disclosure controls and procedures, or caused such
          disclosure controls and procedures to be designed under our
          supervision to ensure that material information relating to the
          registrant, including its consolidated subsidiaries, is made known to
          us by others within those entities, particularly during the period in
          which this quarterly report is being prepared;

     b)   [Paragraph omitted in accordance with SEC transition instructions in
          SEC Release 34-47986]

     c)   Evaluated the effectiveness of the registrant's disclosure controls
          and procedures and presented in this report our conclusions about the
          effectiveness of the disclosure controls and procedures, as of the end
          of the period covered by this report based on such evaluation; and

     d)   Disclosed in this report any change in the registrant's internal
          control over financial reporting that occurred during the registrant's
          most recent fiscal quarter (the registrant's fourth fiscal quarter in
          the case of an annual report) that has materially affected, or is
          reasonably likely to materially affect, the registrant's internal
          control over financial reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed, based on
     our most recent evaluation of internal control over financial reporting, to
     the registrant's auditors and the audit committee of the registrant's board
     of directors (or persons performing the equivalent functions):

     a)   All significant deficiencies and material weaknesses in the design or
          operation of internal control over financial reporting which are
          reasonably likely to adversely affect the registrant's ability to
          record, process, summarize and report financial information; and

     b)   Any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          control over financial reporting.

Date:    August 15, 2003
                                         /s/ Timothy S. Webster
                                         -----------------------------------
                                         Timothy S. Webster, President & CEO

EX-31

                                  CERTIFICATION


I, Warren Schmidgall, certify that:

1.   I have reviewed this report on Form 10-Q of American Italian Pasta Company;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this report;

4.   The registrant's other certifying officer(s) and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-15(e) and 15d-15(e))for the registrant and have:

     a)   designed such disclosure controls and procedures, or caused such
          disclosure controls and procedures to be designed under our
          supervision to ensure that material information relating to the
          registrant, including its consolidated subsidiaries, is made known to
          us by others within those entities, particularly during the period in
          which this quarterly report is being prepared;

     b)   [Paragraph omitted in accordance with SEC transition instructions in
          SEC Release 34-47986]

     c)   Evaluated the effectiveness of the registrant's disclosure controls
          and procedures and presented in this report our conclusions about the
          effectiveness of the disclosure controls and procedures, as of the end
          of the period covered by this report based on such evaluation; and

     d)   Disclosed in this report any change in the registrant's internal
          control over financial reporting that occurred during the registrant's
          most recent fiscal quarter (the registrant's fourth fiscal quarter in
          the case of an annual report) that has materially affected, or is
          reasonably likely to materially affect, the registrant's internal
          control over financial reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed, based on
     our most recent evaluation of internal control over financial reporting, to
     the registrant's auditors and the audit committee of the registrant's board
     of directors (or persons performing the equivalent functions):

     a)   All significant deficiencies and material weaknesses in the design or
          operation of internal control over financial reporting which are
          reasonably likely to adversely affect the registrant's ability to
          record, process, summarize and report financial information; and

     b)   Any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          control over financial reporting.

Date:    August 15, 2003
                                         /s/ Warren Schmidgall
                                         ---------------------------------------
                                         Warren Schmidgall, EVP & CFO

EX-32

                            CERTIFICATION PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In connection with the Quarterly Report of American Italian Pasta Company (the
"Company") on Form 10-Q for the quarterly period ended July 4, 2003, as filed
with the Securities and Exchange Commission on the date hereof (the "Report"),
the undersigned, in the capacities and dates indicated below, hereby certify
pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the
Sarbanes-Oxley Act of 2002, that, to our knowledge: (1) The Report fully
complies with the requirements of Section 13(a) or 15(d) of the Securities
Exchange Act of 1934; and (2) The information contained in the Report fairly
presents, in all material respects, the financial condition and results of
operations of the Company.



                                    /s/ Timothy S. Webster
                                    --------------------------------------------
                                    Timothy S. Webster
                                    President and Chief Executive Officer



                                    /s/ Warren Schmidgall
                                    --------------------------------------------
                                    Warren Schmidgall
                                    Executive Vice President and Chief
                                    Financial Officer