Tuesday, 19 June 2001

Suiza Foods Corporation Responds to Dean Foods’ Earnings Announcement

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Tuesday, 19 June 2001

Suiza Reiterates Comfort With Second Quarter Consensus Earnings Per Share of $1.11

DALLAS, June 19 /PRNewswire/ — Suiza Foods Corporation (NYSE: SZA), the
nation’s leading dairy processor, today responded to an announcement by Dean
Foods (NYSE: DF) that its fourth fiscal quarter and year-end results will fall
short of Wall Street’s consensus estimates.

“We are disappointed with today’s announcement by Dean Foods,” said Gregg
Engles, Chairman of the Board and Chief Executive Officer of Suiza Foods
Corporation. “We continue to believe, however, that the projected benefits of
our merger with Dean Foods are compelling and that it will create significant
shareholder value. While there are issues with the performance of certain of
Dean’s businesses, at this point we believe these issues can be resolved, and
that we can achieve the expected benefits of the merger.”

Suiza Foods also announced today that it is comfortable with second
quarter consensus earnings estimates for the company of $1.11 per share. Said
Engles, “Our operating units are turning in solid performances this quarter.
While we remain cautious about the commodities markets generally and about the
earnings contribution we can expect from our minority-owned packaging
business, we continue to be confident about our ability to deliver results
consistent with expectations.”

Suiza Foods Corporation, based in Dallas, Texas, is the nation’s leading
dairy processor and distributor, producing a full line of company-branded and
customer-branded products. National brands include International Delight(R),
Second Nature(R), Naturally Yours(R), Mocha Mix(R), Sun Soy(TM), kidsmilk(TM)
and fitmilk(TM). Regional brands consist of Adohr Farms(R), Barbe’s(R),
Brown’s Dairy(TM), Broughton(R), Country Fresh(R), Dairy Gold(R),
Dairymens(R), Lehigh Valley Farms(R), London’s(R), Meadow Gold(R), Model
Dairy(TM), Natural by Garelick Farms(R), Oak Farms(R), Poudre Valley(R),
Robinson(R), Schenkel’s All Star Dairy(R), Schepps(R), Shenandoah’s Pride(R),
Suiza(TM), Louis Trauth(TM), Tuscan(R), Velda Farms(R) and West Lynn
Creamery(R). Suiza also sells product under licensed brands in certain
regions including Borden(R), Flav-O-Rich(R), Foremost(R), Hershey’s(R) and
Pet(R). Additionally, the company owns approximately 43% of Consolidated
Container Company, one of the nation’s largest manufacturers of rigid plastic
containers for consumer goods.

Forward-Looking Statement

The following statements contained in this press release are forward-
looking statements made pursuant to the safe harbor provision of the
Securities Litigation Reform Act of 1995: (1) the company’s prediction that
the merger will create significant shareholder value, (2) the company’s
prediction that Dean Foods’ operational difficulties can be resolved and that
the company can achieve the expected benefits of the merger, and (3) the
company’s statement that it is comfortable with consensus earnings estimates
for the second quarter and full year of 2001. These statements involve risks
and uncertainties that may cause actual results to differ materially from the
statements set forth in this press release. The company’s ability to achieve
projected earnings per share, whether before or after the merger, is dependent
on economic and financial markets generally, and various regulatory and
competitive factors, many of which are beyond the company’s control. The
company’s ability to achieve the projected benefits of the merger is also
dependent on, among other things, the company’s ability in the time periods
projected to realize the purchasing and manufacturing synergies expected, to
maintain good relationships with its customers in order to sustain sales, and
to complete the merger on substantially the same terms as currently proposed.
The company’s ability to achieve projected synergies depends largely on its
ability to efficiently coordinate and rationalize operations and
administrative functions and its ability to maintain sales. The company’s
ability to complete the merger on the same terms as currently proposed depends
on whether antitrust regulators challenge the proposed transaction as anti-
competitive, in which event the company could be forced to divest more
operations than it is currently expecting, which could negatively impact the
company’s earnings ability after closing. Other risks affecting the business
of the company, and its ability to achieve projected earnings per share, both
before and after the merger, and the other expected benefits of the merger,
are identified in the company’s filing with the Securities and Exchange
Commission, including the company’s quarterly report on Form 10Q for the first
quarter of 2001. All forward-looking statements in this press release speak
only as of the date hereof. The company expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any such statement
to reflect any change in its expectations or any changes in the events,
conditions or circumstances on which any such statement is based.

Other Legal Information

Suiza Foods expects to file a joint proxy statement/prospectus and other
relevant documents concerning the proposed transaction with the Securities and
Exchange Commission. Shareholders are urged to read the joint proxy
statement/prospectus when it becomes available and any amendment or
supplements to the joint proxy statement/prospectus as well as any other
relevant documents filed with the SEC, because they will contain important
information concerning the proposed transaction. Suiza and its directors and
executive officers may be deemed to be participants in the solicitation of
proxies from the stockholders of Suiza in favor of the transaction. The
directors and executive officers of Suiza and their beneficial ownership of
Suiza’s common stock are set forth in the proxy statement for Suiza’s 2001
annual meeting of shareholders. Suiza’s shareholders will receive the joint
proxy statement/prospectus related to the merger by mail. They can also
obtain it, and all other documents filed with the SEC free of charge at the
SEC’s website (http://www.sec.gov) or by contacting Suiza, 2515 McKinney
Avenue, Suite 1200, Dallas, Texas 75201, Attn: Investor Relations
(tel 214 303 3400).

                    MAKE YOUR OPINION COUNT -  Click Here
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SOURCE Suiza Foods Corporation

CONTACT: Cory M. Olson, Vice President and Treasurer, 214-303-3645, or
P.I. Aquino, Assistant Treasurer, 214-303-3437, both of Suiza Foods
Corporation/

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