Friday, 2 November 2001

Suiza Foods Revises Third Quarter Earnings Estimate Due to Results Announced By Minority-Owned Packaging Business

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Friday, 2 November 2001

DALLAS, Nov 2, 2001 /PRNewswire via COMTEX/ —

Company Still Expects to Report Third Quarter Operating Results in Line With Expectations

Suiza Foods Corporation (NYSE:
SZA), the nation’s leading dairy processor and distributor, today reported that
it is revising its third quarter earnings estimate due to weaker than expected
results announced this afternoon by Consolidated Container Company. Consolidated
Container Company is the packaging business in which Suiza owns a 43% interest.

Prior to today’s announcement by Consolidated Container, Suiza expected to
report third quarter earnings of $1.10 per share. However, due to Consolidated
Container’s third quarter results, Suiza is lowering its third quarter
consolidated earnings estimate by $0.12 to $0.98 per share.

“We are very disappointed with the results announced today by Consolidated
Container. Prior to today’s announcement, we were on track to report earnings
for the third quarter of $1.10, in line with consensus,” said Gregg Engles,
Chairman and Chief Executive Officer of Suiza Foods Corporation. “Our operating
units turned in solid performances, in spite of the continued high commodity
environment and softness in volumes due to September 11th.”

Suiza noted that its third quarter earnings announcement is scheduled for
November 7, 2001. A conference call is scheduled at 10:00 a.m. EST on Nov. 7 to
discuss its third quarter financial performance and outlook for the balance of
the year and to provide an update on the pending merger with Dean Foods. The
call may be heard live by visiting the “Conference Calls Online” section of the
company web site at www.suizafoods.com .

Suiza Foods Corporation, based in Dallas, 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(R). Regional brands include Adohr Farms(R), Barbe’s(R),
Broughton(R), Brown’s Dairy(TM), Country Delite(R), Country Fresh(R), Dairy
Gold(R), Dairymens(R), Flav-O-Rich(R), Garelick Farms(R), Hygeia(R), Lehigh
Valley Farms(R), London’s(R), Meadow Gold(R), Model Dairy(R), Oak Farms(R),
Poudre Valley(R), Robinson(R), Schenkel’s All Star Dairy, Schepps(R),
Shenandoah’s Pride(R), Suiza Dairy(R), Swiss Dairy(TM), Louis Trauth Dairy(R),
Tuscan(R) and Velda Farms(R), as well as Celta(R) in Spain. Suiza also sells
products under partner or licensed brands in certain regions, including
Borden(R), Foremost(R), Hershey(R)’s and Pet(R). Additionally, the company owns
approximately 43% of Consolidated Container Company, one of the nation’s largest
manufacturers of rigid plastic containers.

Forward Looking Statement

Some of the statements in this press release are “forward-looking” and are made
pursuant to the safe harbor provision of the Securities Litigation Reform Act of
1995. These “forward-looking” statements include statements relating to the
company’s third quarter earnings estimates. These statements involve risks and
uncertainties, which may cause results to differ materially from the statements
set forth in this press release. The company’s earnings estimates are based on
the company’s information to date and are subject to finalization and auditor
review. The forward-looking statements in this press release speak only as of
the date of this release. Suiza 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.

SOURCE Suiza Foods Corporation

CONTACT: Cory M. Olson, Vice President and Treasurer, +1-214-303-3645,
or P.I. Aquino, Assistant Treasurer, +1-214-303-3437, both of Suiza Foods
Corporation

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