1 CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in the Registration Statements on Form S-8 (No. 333-2858 and No. 333-2636) of The Earthgrains Company of our report dated May 2, 1997 appearing on page 38 of The Earthgrains Company's Annual Report to Shareholders which is incorporated by reference in this Annual Report on Form 10-K. /s/ Price Waterhouse LLP PRICE WATERHOUSE LLP St. Louis, Missouri June 18, 1997