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Underwriters Exercise Option on 2 Million Additional Shares

Toronto, Ontario - Maple Leaf Foods Inc. today announced that, in connection with the treasury share offering announced on November 28, 2001, RBC Dominion Securities Inc. has advised that the underwriting group will be exercising in full the option to acquire an additional 2,000,000 common shares. This will bring the aggregate number of shares to be sold to 16.7 million for net proceeds to the Company of about $169.2 million

The offering is expected to close on Friday, December 14, 2001.

Maple Leaf Foods Inc. is a leading Canadian food processing company. Headquartered in Toronto, the Company employs more than 13,000 people at its operations across Canada, in the United States, Europe and Asia. Maple Leaf Foods Inc. had sales of more than $3.9 billion in 2000.


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