FOR IMMEDIATE RELEASE

CONAGRA FOODS BOARD ELECTS GARY RODKIN PRESIDENT AND CHIEF EXECUTIVE OFFICER

Steven Goldstone Selected as Non-Executive Chairman

     OMAHA,  Neb., Aug. 31, 2005 -- ConAgra Foods Inc. (NYSE: CAG), one of North
     America's  leading  packaged food  companies,  today announced that Gary M.
     Rodkin will be the company's new president and chief executive  officer and
     a member of its board of directors  beginning Oct. 1. Rodkin,  53, was most
     recently  chairman and chief  executive  officer of PepsiCo  Beverages  and
     Foods North America. He will succeed Bruce Rohde, 56, the current president
     and CEO.

     "Gary Rodkin is an accomplished  leader with world-class general management
     skills who has consistently  driven strong business results  throughout his
     career.  He's built  leading  brands and  winning  teams at General  Mills,
     Tropicana and Pepsico.  His leadership,  consumer marketing skills and more
     than 25 years of packaged foods  experience make him uniquely  qualified to
     lead  ConAgra  Foods into an era of  improved  performance  and  profitable
     growth,"  said Board member  Steven F.  Goldstone,  59, who led the Board's
     search committee for a new chief executive.

     Goldstone  himself  was  appointed  by the  Board as its new  non-executive
     chairman  beginning  Oct.  1.  Goldstone  is a retired  chairman  and chief
     executive officer of RJR Nabisco.

     "I'm very excited about the opportunity.  Few packaged foods companies have
     as many  consumer  brand  favorites or as much upside  potential as ConAgra
     Foods," said Rodkin.

     "A lot has  been  accomplished  in  recent  years to  shape  the  company's
     portfolio and strengthen its business model. With that foundation,  we will
     focus on sustainable profit growth through well-defined strategic focus and
     operational excellence.

     "Ultimately,  companies  grow and gain  competitive  advantage  by building
     brands that are  relevant  to and valued by  consumers,  and by  leveraging
     one's  capabilities  to the  benefit of  customers.  By  keeping  everybody
     focused on this,  we will not only overcome any  challenges,  we will bring
     greater relevance to consumers, better serve customers and build shareowner
     value."

     In Rodkin's last job at PepsiCo,  as president and CEO of PepsiCo Beverages
     and Foods North America, he led a $10 billion  organization  including such
     leading brands as Pepsi,  Gatorade,  Quaker Foods and Tropicana.  He joined
     PepsiCo in 1998 when PepsiCo acquired Tropicana, where he had served as its
     president  for North  America  since 1995.  From 1979 to 1995,  Rodkin held
     marketing and general management positions of increasing  responsibility at
     General Mills, participating in the successes of many of its leading brands
     from Cheerios to Betty Crocker, with his last three years at the company as
     president, Yoplait-Colombo.

     Rodkin earned a bachelor's  degree in economics from Rutgers  College and a
     MBA from Harvard Business School. He is married and has two children.

     Rohde commented,  "Gary is a quality person and a proven leader. His record
     of growing brands,  marketing excellence and leading people is exactly what
     we need. He is fully ready for this opportunity and our people are ready to
     respond."

     Rohde has been a  director  since  1996 and  chairman  and chief  executive
     officer since 1998. During his tenure, he transformed  ConAgra Foods from a
     food  conglomerate  with most of its sales in commodities into one of North
     America's largest packaged foods companies.

     "The Board expresses its gratitude to Bruce for his strategic  leadership,"
     said Goldstone.  "His transformation of the portfolio and refocusing of the
     business are lasting  legacies  that give us a more solid  foundation  from
     which to build."

     Rodkin's  selection is the culmination of a formal search process  launched
     by Rohde's announcement earlier this year of his plans to seek a successor.
     The Board was  assisted in its search by Heidrick &  Struggles,  one of the
     world's premier executive search firms.

     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,  Eckrich,  Egg  Beaters,
     Fleischmann's,  Golden Cuisine,  Gulden's, Healthy Choice, Hebrew National,
     Hunt's,  Kid Cuisine,  Knott's Berry Farm, La Choy,  Lamb Weston,  Libby's,
     Life Choice, Lunch Makers, MaMa Rosa's, Manwich, Marie Callender's, 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.