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Canada Bread Company Named Food Processor of the Year for 2000

TORONTO, ON – “Food in Canada”,
Canada’s premier publication for the food processing industry, has named the
Canada Bread Company, Limited (TSE: CBY) as its Food Processor of the
Year for 2000. Canada Bread is 68% owned by Maple Leaf Foods Inc.

Food in Canada’s high profile editorial
advisory board, industry experts and suppliers annually review the food
processing sector and select one company to be featured as “Food Processor of
the Year”. To be selected, companies must be Canadian, an influencer in their
sector, have a thriving and successful business, and demonstrate future promise
and industry leadership.

“We’re pleased to salute Canada Bread as
this year’s Food in Canada Food Processor of the Year,” said Sandra Eagle,
Editor of Food in Canada. “Canada Bread was our choice this year for a number
of reasons including: its turnaround in financial performance, its commitment
to the industry, its delivery of innovative, quality products and its
investments in technology and innovative practices.”

“Over the last couple of years, hundreds of
outstanding leaders throughout our company have taken the initiative to put in
place the fundamentals in our business and lay the groundwork for growth and
innovation,” said Roger Dickhout, Chief Executive Officer of Canada Bread. “I
am delighted to see their efforts recognized by Food in Canada.”

“Building the bakery business in Canada
and the United States has been a priority over the past two years. The
management team of Canada Bread has done an outstanding job of building the
business, serving our customers and developing innovative products,” said
Richard Lan Chairman of Canada Bread Company, Limited and President, Maple Leaf
Bakery Group. “On behalf of the Maple Leaf Bakery Group, I’d like to
congratulate everyone at Canada Bread and thank Food in Canada for recognizing
their achievements.”

Canada Bread Company, Limited is a leading
Canadian manufacturer of value-added flour-based products. Canada Bread
maintains a national presence in the marketplace with three principal brand
names: Dempster’s™, Olivieri™, and Tenderflake™. Canada
Bread Company, Limited is 68% owned by Maple Leaf Foods Inc.

Maple Leaf Foods Inc. is a
leading global food processing company. Headquartered in Toronto, Canada, the
company employs more than 13,000 people at its operations across Canada and in
the United States, Europe and Asia. Maple Leaf Foods reported sales of $3.5
billion in 1999.