George Weston Announcement

Dec 04, 2008, 08:50 ET from George Weston Limited

TORONTO, Dec. 4 /PRNewswire-FirstCall/ - George Weston Limited confirmed today that its subsidiary, Dunedin Holdings S.a.r.l, is in discussions with Grupo Bimbo regarding the possible sale of Dunedin's US fresh bread and baked goods business. No agreement has been reached and there can be no assurance that any transaction will be concluded.

George Weston Limited is a Canadian public company founded in 1882 and through its operating subsidiaries constitutes one of North America's largest food processing and distribution groups. Weston has two reportable operating segments: Weston Foods and Loblaw, which is operated by Loblaw Companies Limited. The Weston Foods operating segment is primarily engaged in the baking industry within North America. Loblaw is Canada's largest food distributor and a leading provider of general merchandise, drugstore and financial products and services.

This news release includes a forward-looking statement about the possible sale of Dunedin Holding's U.S. fresh bread and baked goods business. No assurance can be given that a sale will be completed. The forward-looking statement in this news release is subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of the factors that could cause actual results to differ include the need to reach agreement on the terms of any transaction and, if such agreement is reached, to obtain regulatory approvals and satisfy other conditions. Additional factors are discussed in the Corporation's materials filed with the securities regulatory authorities in Canada from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE George Weston Limited