Financial Estimate of Impact from Bartor Road Product Recall



    TSX: MFI

    TORONTO, Aug. 24 /CNW/ - Last night Maple Leaf Foods announced a further
recall of products related to the positive finding of Listeria monocytogenes
in some products manufactured at its Bartor Road facility. This follows a
recall announced on August 19th. Management estimates that the Company will
incur direct costs related to the recalls, primarily reimbursement for
returned product, factory sanitation and other direct expenses, of
approximately $20 million before taxes and expects that the charge will be
included in the third quarter ended September 2008.
    This estimate is based on information available to the Company at this
time and is subject to change, depending on the actual amounts of product
returned by customers.
    The Company may incur future costs related to increased advertising and
other consumer communications and may experience reduced sales for a period of
time. The Company is not able to estimate these impacts at this time.

    Forward-Looking Statements
    --------------------------
    This document contains, and the Company's oral and written public
communications often contain, forward-looking statements that are based on
current expectations, estimates, forecasts and projections about the
industries in which the Company operates and beliefs and assumptions made by
the Management of the Company. Such statements include, but are not limited
to, statements with respect to our objectives and goals, as well as statements
with respect to our beliefs, plans, objectives, expectations, anticipations,
estimates and intentions. Words such as "expect", "anticipate", "intend",
"attempt", "may", "will", "plan", "believe", "seek", "estimate", and
variations of such words and similar expressions are intended to identify such
forward-looking statements. These statements are not guarantees of future
performance and involve assumptions and risks and uncertainties that are
difficult to predict. Therefore, actual outcomes and results may differ
materially from what is expressed, implied or forecasted in such
forward-looking statements. The Company does not intend, and the Company
disclaims any obligation to update any forward-looking statements, whether
written or oral, or whether as a result of new information, future events or
otherwise except as required by law.
    These forward-looking statements are based on a variety of factors and
assumptions including, but not limited to: the condition of the Canadian and
United States economies; the rate of appreciation of the Canadian dollar
versus the U.S. dollar and Japanese yen; the availability and saleability of
prices of livestock, raw materials, energy and supplies; product pricing; the
competitive environment and related market conditions; improvement of
operating efficiencies; continued access to capital; the cost of compliance
with environmental and health standards; adverse results from ongoing
litigation; no expected actions of domestic and foreign governments and the
general assumption that none of the risks identified under "Risk Factors" in
the Company's 2007 Annual Information Form will materialize. These assumptions
have been derived from information currently available to the Company
including information obtained by the Company from third-party industry
analysts.
    Actual results may differ materially from those predicted by such
forward-looking statements. While the Company does not know what impact any of
these differences may have on its business, results of operations, financial
condition and the market price of its securities may be materially adversely
affected. Factors that could cause actual results or outcomes to differ
materially from the results expressed or implied by forward-looking statements
are discussed more fully in the Company's Management's Discussion and Analysis
for the year ended December 31, 2007, which is available on SEDAR at
www.sedar.com.

    Maple Leaf Foods Inc. is a leading food processing company, headquartered
in Toronto, Canada. The Company employs approximately 23,500 people at its
operations across Canada and in the United States, the United Kingdom and
Asia. The Company had sales of $5.2 billion in 2007.




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926-2048


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