CORAL GABLES, Fla.--(BUSINESS WIRE)--Nov. 5, 2001--Del Monte Fresh Produce N.A., Inc. a subsidiary of Fresh Del Monte Produce Inc. (NYSE:FDP), announced today that it has signed an agreement that will further enhance its fresh-cut produce product line to include citrus through the application of proprietary new technology licensed from the Florida Department of Citrus (FDOC).

"We believe that the value of fresh-cut fruit sales will grow rapidly in the coming years," said Bryce Edmonson, Senior Vice President North America. "At the same time that we are completing our national network of local fresh-cut processing and distribution facilities, we are seeking leading edge technology to broaden our product lines. We believe this license agreement will allow us to bring attractive high-quality citrus products to market that consumers will find both convenient and appealing."

Under the terms of the five-year limited exclusive agreement, that can be extended to ten years, Del Monte Fresh Produce will be the first to commercialize this innovative new technology. The license covers the patents, trade secrets and manufacturing equipment for both low pressure and vacuum fluid infusion methods for the automated peeling of fresh citrus.

Del Monte Fresh Produce will market the new citrus products under the widely recognized DEL MONTE(R) brand. The FDOC will provide funds for the citrus peeling equipment and will contribute towards the initial cost of marketing Florida citrus.

"We look forward to working closely with the FDOC and using this very exciting Citrus Peeling System to build sales of fresh-cut citrus in new and existing markets," said Mr. Edmonson. "Work is underway at our Plant City, Florida facility to install the new cutting-edge equipment."

Del Monte Fresh Produce is a wholly owned subsidiary of Fresh Del Monte Inc. which is a leading vertically integrated producer and marketer of high quality fresh and packaged fresh-cut fruit and vegetables. Our products include bananas, pineapples, cantaloupe, honeydew, watermelons, grapes, non-tropical fruit (including citrus, apples, pears, peaches, plums, nectarines, apricots and kiwi), plantains, Vidalia(R) sweet onions and various greens. We market our products worldwide under the DEL MONTE(R) brand, a symbol of product quality and reliability since 1892.

This release and other press releases are available on the Company's web site http://www.freshdelmonte.com.