January 9, 2007

Pilgrim's Pride receives over 90 percent of Gold Kist's shares

Pilgrim's Pride Corporation has completed its share acquisition during the second offering period of its tender offer to acquire all of the outstanding shares of Gold Kis Inc. for US$21.00 per share in cash.

By January 5, 2007, more than 47 million shares, representing approximately 92 percent of Gold Kist's outstanding common stock, have been tendered into Pilgrim's Pride's initial tender offer and during the second offering period.

Pilgrim's Pride intends to complete the acquisition of the remaining shares of Gold Kist through a merger of the acquisition vehicle, Protein Acquisition Corporation, into Gold Kist, in which all Gold Kist shares not tendered into Pilgrim's Pride's initial tender offer or during the second offering period would be converted into the right to receive US$21.00 per share.

Following the merger, Gold Kist would be a wholly owned subsidiary of Pilgrim's Pride.

On December 3, 2006, Pilgrim's Pride and Gold Kist entered into a merger agreement, under which Pilgrim's Pride agreed to acquire all of the outstanding shares of Gold Kist common stock for $21.00 per share in cash.

Pilgrim's Pride bought Gold Kist in a US$1.1 billion deal, plus the assumption or refinancing of approximately US$144 million of Gold Kist's debt.