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Maple Leaf Foods Closes Share Offering

Toronto, Ontario – Maple Leaf Foods Inc. announced that
the share offering announced on November 28th closed today. 16.7
million shares were sold at a price of $10.30 per share for net proceeds of
$169.2 million.

Maple Leaf Foods Inc. is a leading, Canadian 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 $3.9 billion in 2000.