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Maple Leaf Foods Purchases Additional Canada Bread Shares

Toronto, Ontario – June
12, 2003….Maple Leaf Foods today announced
that it has entered into a
private agreement with a third-party to purchase
819,400 common shares of Canada Bread Company,
Limited at $26.50 per share. The transaction is
expected to close on June 13, 2003.

The shares were purchased
for investment purposes. “The purchase further demonstrates Maple Leaf
Foods’ long-term commitment to the bakery business.” said Tom P. Muir,
Chief Financial Officer of Maple Leaf Foods. Maple Leaf Foods may or may
not purchase additional shares of Canada Bread in the future, depending on
market conditions.

Prior to this transaction,
Maple Leaf Foods beneficially owned 19,798,615 common shares representing
approximately 77.9% of the outstanding common shares. Subsequent to the
transaction Maple Leaf Foods will own 20,618,015 common shares
representing approximately 81.1% of the outstanding common shares of
Canada Bread.

Maple Leaf Foods, Inc. is
a leading Canadian food processing company committed to delivering quality
food products to consumers around the world. Headquartered in Toronto,
Canada, the Company employs more than 18,000 people at its operations
across Canada, and in the United States, Europe and Asia. Maple Leaf Foods
Inc. reported sales of $5.1 billion in 2002.