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Maple Leaf Foods Purchases Additional Canada Bread Shares

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Copperfield   Wednesday, 05/28/03 08:45:04 AM
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Maple Leaf Foods Purchases Additional Canada Bread Shares

Toronto, Ontario - May 5, 2003 - Maple Leaf Foods today announced that it has purchased 1,165,300 million common shares of Canada Bread Company, Limited at $25.00 per share. The shares, which represent about 4.6% of Canada Bread's outstanding shares, were purchased on the TSX.

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 18,633,315 common shares representing approximately 73.3% of the outstanding common shares. Subsequent to the transaction Maple Leaf Foods owns 19,798,615 common shares representing approximately 77.9% 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.




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