DALLAS, Dec. 9 /PRNewswire-FirstCall/ — In conjunction with the forward
sale and subsequent pay down of a personal loan announced on November 21,
2008, Dean Foods Company (NYSE: DF) today announced that Gregg Engles,
Chairman and CEO, has refinanced the remaining portion of the personal loan
collateralized by Dean Foods shares. The new loan, collateralized by Dean
Foods shares, does not include a margin call provision and eliminates the
possibility of a forced sale of Dean Foods shares by Mr. Engles in the event
of a share price decline. As consideration for the new loan, Mr. Engles has
granted the lender a three-year call option with respect to approximately
71,500 Dean Foods shares.

The new loan completes Mr. Engles’ refinancing transactions.

ABOUT DEAN FOODS

Dean Foods is one of the leading food and beverage companies in the United
States. The Company’s DSD Dairy segment is the largest processor and
distributor of milk and other dairy products in the country, with products
sold under more than 50 familiar local and regional brands and a wide array of
private labels. The Company’s WhiteWave-Morningstar segment markets and sells
a variety of nationally branded dairy and dairy-related products, such as
Silk^® soymilk and cultured soy products, Horizon Organic^® milk and other
dairy products, International Delight^® coffee creamers, LAND O’LAKES^®
creamers and other fluid dairy products. Our WhiteWave-Morningstar segment’s
Rachel’s Organic^® dairy products brand is the third largest organic yogurt
brand in the United Kingdom. Additionally, our WhiteWave-Morningstar segment
markets and sells private label cultured and extended shelf life dairy
products through our Morningstar platform.

FORWARD-LOOKING STATEMENTS

Some of the statements in this press release are “forward-looking” and are
made pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995. These “forward-looking” statements include
statements relating to, among other things, projected sales, operating income,
net income, adjusted diluted earnings per share, debt covenant compliance and
expected financial performance. These statements involve risks and
uncertainties that may cause results to differ materially from the statements
set forth in this press release. The Company’s ability to meet targeted
financial and operating results, including targeted sales, operating income,
net income and earnings per share depends on a variety of economic,
competitive and governmental factors, including raw material availability and
costs, the demand for the Company’s products, and the Company’s ability to
access capital under its credit facilities or otherwise, many of which are
beyond the Company’s control and which are described in the Company’s filings
with the Securities and Exchange Commission. The Company’s ability to profit
from its branding initiatives depends on a number of factors including
consumer acceptance of the Company’s products. The forward-looking statements
in this press release speak only as of the date of this release. The Company
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to such statements to reflect any change in its
expectations with regard thereto or any changes in the events, conditions or
circumstances on which any such statement is based.

CONTACT:
Corporate Communications, Marguerite Copel, +1-214-721-1273
or
Investor Relations, Barry Sievert, +1-214-303-3437

SOURCE Dean Foods

<!–
/CONTACT: Corporate Communications, Marguerite Copel, +1-214-721-1273, or
Investor Relations, Barry Sievert, +1-214-303-3437, both of Dean Foods /
(DF)

CO: Dean Foods; Dean Foods Company

ST: Texas
IN: REA FOD
SU: FNC

PR
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8243 12/09/2008 17:06 EST http://www.prnewswire.com

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