Exhibit 99.1

                    DREYER'S GRAND ICE CREAM, INC. ANNOUNCES
                  COMMITMENT TO FEDERAL TRADE COMMISSION (FTC)

(Oakland,  CA,  February 25, 2003) - Dreyer's Grand Ice Cream,  Inc.  (Dreyer's,
NNM:  DRYR)  announced  that Nestle  Holdings,  Inc.  (Nestle) and Dreyer's have
committed to the FTC not to close the proposed transactions without first giving
20 days  written  notice to the FTC of an intent to close,  and that in no event
will the parties  give such notice to the FTC in a manner that would  permit the
transactions to close prior to March 31, 2003. The parties continue to work with
the FTC in order to expedite the agency's review of the proposed transactions.

The Form S-4 Registration Statement (S-4) filed with the Securities and Exchange
Commission  (SEC) in connection with the proposed  transactions  among Dreyer's,
Nestle Ice Cream Company,  LLC (NICC),  and Nestle Holdings,  Inc.  (Nestle) was
declared  effective on February 14, 2003. A proxy  statement/prospectus  for the
Special  Meeting of  Stockholders  to be held March 20,  2003,  was mailed on or
about February 18, 2003, to Dreyer's stockholders of record on January 29, 2003.
Upon completion of the  transactions,  Nestle will contribute 100% of its equity
interest of NICC in exchange for  approximately  55 million  shares of a holding
company,  New December,  Inc. (New Dreyer's),  to be renamed "Dreyer's Grand Ice
Cream Holdings, Inc". New Dreyer's will hold 100% of the equity interest of both
Dreyer's and NICC.  Each share of Dreyer's  common stock held by the public will
be  exchanged  for a new share of stock of New  Dreyer's  that will  permit  its
holders to sell some or all of their  shares to New  Dreyer's  for $83 per share
during  specified  periods in the future  and be  subject to  redemption  by New
Dreyer's  at the  request of Nestle at $88 per common  share  during a specified
period in the future.  The transactions will result in Nestle and its affiliates
owning approximately 67 percent of New Dreyer's diluted common stock.

                                   **********

Dreyer's  manufactures  and  distributes a full spectrum of ice cream and frozen
dessert products.  The company's  products are marketed under the Dreyer's brand
name  throughout  the  western  states and Texas,  and under the  Edy's(R)  name
throughout the remainder of the United States. Dreyer's (together with Edy's) is
the best selling  brand of packaged  ice cream in the country.  Internationally,
the Dreyer's brand extends to select markets in the Far East and the Edy's brand
to  the  Caribbean  and  South  America.   Brands  currently   manufactured  and
distributed by Dreyer's include Grand,  Grand Light(R),  Homemade,  Dreamery(R),
Whole Fruit(TM) Sorbet, M&M/Mars, Starbucks(R), Godiva(R) and Healthy Choice(R).
For more information on the company, please visit www.dreyersinc.com.
                                                  ------------------

Edy's,  the  Dreyer's and Edy's logo design,  Dreamery,  Grand Light,  Homemade,
Whole Fruit, are all trademarks or tradenames of Dreyer's Grand Ice Cream,  Inc.
All other trademarks and tradenames are owned by their respective companies.





Investors and security holders are urged to read the proxy  statement/prospectus
in  connection  with the Nestle  transaction  referenced  above.  Investors  and
security  holders may obtain a free copy of the proxy  statement/prospectus  and
documents  filed by Dreyer's and New Dreyer's with the SEC at the SEC's web site
at  www.sec.gov.  A copy of the proxy  statement/prospectus  which was mailed to
Dreyer's  stockholders may be obtained free of charge from Dreyer's by directing
a request to:


                              Dreyer's Grand Ice Cream, Inc.

                              Attn: Investor Relations

                              5929 College Avenue

                              Oakland, California 94618-1391


For further information contact:
Media Contact: Dori Sera Bailey at 510/601-4241
Investor Contact: C. Scott Webster at 510/450-4545