The offering includes 4,000,000 ordinary shares being sold by Fresh Del Monte and 6,000,000 ordinary shares being sold by IAT Group Inc., our principal shareholder. Fresh Del Monte and IAT Group have also granted the underwriters an option to purchase up to a combined 1,500,000 additional ordinary shares solely to cover over-allotments, if any.

Fresh Del Monte currently intends to use the net proceeds from the offering for the repayment of indebtedness outstanding under its credit facility. Fresh Del Monte will not receive any proceeds from the sale of ordinary shares by IAT Group.

Morgan Stanley & Co. Incorporated is the sole book-running manager for the offering, with Merrill Lynch, Pierce, Fenner & Smith Incorporated, Piper Jaffray and Wachovia Capital Markets, LLC acting as co-managers.

The offering is being made only by means of a prospectus supplement and accompanying prospectus, copies of which are available for review at www.sec.gov. Alternatively, those documents may be obtained by contacting: Morgan Stanley & Co. Incorporated, Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649 or via e-mail at prospectus@morganstanley.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be a sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT FRESH DEL MONTE PRODUCE

Fresh Del Monte is a vertically integrated producer, marketer and distributor of fresh and fresh-cut fruit and vegetables, as well as a producer and distributor of prepared fruits and vegetables, juices, beverages, snacks and desserts. Fresh Del Monte, based in the Cayman Islands, markets its products worldwide under the Del Monte (R) brand.

FORWARD LOOKING AND CAUTIONARY STATEMENTS

This press release contains forward-looking statements about Fresh Del Monte's intention to complete the offering of ordinary shares described above and apply the offering proceeds as described. These forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "projects," "intends," "believes," "guidance," and similar expressions. Do not unduly rely on forward-looking statements. They give Fresh Del Monte's expectation about the future and are not guarantees. Actual results might differ significantly from our forecasts and expectations due to factors included and described in the "Risk Factors" sections of the prospectus supplement related to the offering and the documents that it incorporates by reference. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date.

SOURCE: Fresh Del Monte Produce Inc.

Fresh Del Monte Produce Inc.
Christine Cannella, 305-520-8433
Assistant Vice President - Investor Relations