June 28, 2004

Corn Products International Announces Chinese Joint Venture

Corn Products International, Inc. has announced that it is establishing a manufacturing presence in China, by acquiring controlling interest in a new joint venture that will manufacture modified corn starches for the Chinese market.

The business, Golden Far East (Shouguang) Modified Starch Company, Ltd., is a joint venture between Corn Products International and Shandong Juneng Electric Power Group Golden Corn Development Company, Ltd. The business consists of a plant headquartered in Shouguang city, Shandong province, approximately 200 miles south of Beijing. It is well positioned to serve the Beijing and Shanghai regions within China, as well as other markets in the area.

Corn Products International, Inc. is one of the world's largest corn refiners and a major supplier of high-quality food ingredients and industrial products derived from the wet milling and processing of corn and other starch-based materials. The Company is the number-one worldwide producer of dextrose and a leading regional producer of starch, high fructose corn syrup and glucose. In 2003, the Company recorded net sales of $2.1 billion with operations in 19 countries at 37 plants, including wholly owned businesses, affiliates and alliances. Headquartered in Westchester, Ill., it was founded in 1906.