FOR IMMEDIATE RELEASE

CONAGRA FOODS COMPLETES THE SALE OF CHICKEN PROCESSING BUSINESS


OMAHA, Neb., Nov. 24, 2003-- Today ConAgra Foods, Inc. (NYSE: CAG), home of many
famous consumer food brands,  completed the previously announced  divestiture of
its chicken processing business to Pilgrim's Pride (NYSE: PPC). This divestiture
is part of ConAgra  Foods' ongoing plan to reshape its portfolio to focus on its
branded and value-added food businesses.

Transaction Details

For its chicken business, ConAgra Foods received:

     o    $300 million in cash, and

     o    More than 25 million shares of Pilgrim's Pride stock. The marketing of
          these shares is subject to an agreement in which one-third can be sold
          one year  after  closing,  another  third can be sold two years  after
          closing and the remaining third can be sold three years after closing.

The sale price was based on the $545 million book value of the chicken  business
at the time of closing.  ConAgra  Foods noted that the cash  portion of the sale
price was greater  than it  originally  estimated,  and it is  providing no debt
financing as part of this deal.




Bruce Rohde,  chairman and chief executive officer of ConAgra Foods,  commented,
"This  closing  represents  another  important  step to improve the strength and
consistency  of our  earnings  by  focusing on  businesses  with  higher  margin
opportunities."

Additional    details    regarding   this   announcement   are   posted   in   a
question-and-answer    document    located   on   the    company's   Web   site,
www.conagrafoods.com, in the Investor's section.

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

Note on Forward-Looking Statements:

This news release contains  "forward-looking"  statements  within the meaning of
the Private Securities Litigation Reform Act of 1995. These statements are based
on management's  current expectations and are subject to uncertainty and changes
in  circumstances.  Actual  results may vary  materially  from the  expectations
contained in the  forward-looking  statements.  Future  economic  circumstances,
industry conditions, company performance and financial results, availability and
prices of raw materials,  product pricing,  competitive  environment and related
market  conditions,  operating  efficiencies,  access  to  capital,  actions  of
governments and regulatory factors affecting the company's  businesses and other
risks described in the company's  reports filed with the Securities and Exchange
Commission  are  examples  of factors,  among  others,  that could cause  actual
results  to  differ  materially  from  those  described  in the  forward-looking
statements.  The company is under no obligation to (and expressly  disclaims any
such obligation to) update or alter its forward-looking  statements whether as a
result of new information, future events, or otherwise.