Corporate & Financial News

- Streamlining Coffee and Fruit Spreads Manufacturing Network - Annual Cost Savings of $60 Million Expected Once Fully Implemented

Smucker will Continue to Own and Market Hungry Jack in the Breakfast Category; Basic American Foods will Expand Retail Presence in Potato Business

Agreement provides for greater consumer choice in the fast-growing and ultra-convenient Keurig(R) Single-Cup Brewing system

-- Net sales increased 52 percent led by Folgers -- Margins expand; Net income more than doubled -- EPS up 26 percent, up 21 percent excluding charges -- Cash from operations increased significantly

-- Net sales increased 58 percent led by Folgers -- Margins expand; Net income more than doubles -- EPS up 8 percent, up 12 percent excluding charges

Fourth quarter net sales increased 81 percent led by Folgers Fourth quarter net income more than doubled; EPS up 19 percent, up 40 percent excluding charges Company updates fiscal 2010 outlook provided at announcement of Folgers transaction; increases estimates

Net sales increased 78 percent led by Folgers Net income increased 84 percent EPS down 9 percent due to Folgers merger and integration charges, EPS up 11 percent excluding charges Company updates fiscal 2009 outlook and confirms long-term strategic objectives