AGM Statement

Kerry Group PLC
25 May 2004



Press Announcement


Updating Statement : Annual General Meeting : Kerry Group plc



25 May, 2004



Kerry, the global ingredients, flavours and consumer food group, today stated
that the Group expects a good outturn for the year 2004.



Addressing shareholders at the Group's Annual General Meeting, Hugh Friel, Chief
Executive, confirmed that trading to date in 2004 has been strong with good
progress in convenience, nutrition and lifestyle food and beverage markets.  'In
line with market expectations, we are looking forward to a good outturn for the
full year', said Mr Friel.



Commenting on the successful completion of major acquisitions in the Group's
core markets, Mr Friel stated that the acquisition programme, at a cost of €665m
to-date in 2004, had extended the Group's food ingredients platform to
bio-ingredient and pharma-ingredients applications, significantly broadened the
Group's flavour development technical and regional base, and also expanded the
Group's interests in the U.S. branded beverage foodservice and natural foods
sectors.  'With the increasing focus of the global food industry on the critical
areas of health, nutrition and food safety, these acquisitions have expanded the
Group's positioning in the key areas of taste, flavour and texture.

In particular the Group's acquisition of Quest Food Ingredients, while
complementing our existing ingredients businesses, establishes a number of
important new growth platforms which will be managed by our new Kerry
Bio-Science division', Mr Friel added.







Notes for Editors :



In the financial year ended 31 December 2003, Kerry Group reported total
turnover of €3.7 billion, reflecting like-for-like sales growth of 4.6%.  Group
operating profit before goodwill was reported at €308.5m, reflecting a
like-for-like increase of  7.6%.  Adjusted earnings per share increased by 10.1%
to 112.1 cent.  Approximately 36% of Group turnover originated in Ireland, 34%
in the rest of Europe, 26% in the Americas and 4% in Asia Pacific.

                                                               continued ... ...



To date in 2004, Kerry has concluded the following strategic acquisitions for a
total consideration of €665m, comprising  :



(a)                 Ingredients Businesses



Quest Food Ingredients, a leader in innovation and application of
bio-ingredients and pharma-ingredients, serving pharmaceutical, culinary, snack,
bakery, dairy and confectionery markets worldwide.



Cremo Ingredients, based in Denmark, a leading supplier of dairy ingredients and
flavourings to an extensive customer base in the savoury, convenience and snack
food sectors throughout Europe and Asia.



(b)                Foodservice Businesses



Oregon Chai, a leading branded supplier of natural Chai Tea Latte mixes,
concentrates and ready-to-drink products, serving specialist foodservice
beverage chains, grocery, club and natural food store channels throughout the
USA and Canada.



Extreme Foods, a producer and marketer of ready-to-use ice-blended fruit
smoothies and coffee frappes, marketed under the JetTea and JetCafe brand names
respectively, serving the flavoured beverages sector of the U.S. foodservice
industry.



(c)                 Flavour Businesses



Manheimer, a leading formulator and supplier of natural flavours for the
beverage, confectionery, meat and soup industries from its state-of-the-art
facilities based in New Jersey, USA.  The Manheimer Fragrances division develops
and markets innovative fragrances for application in home environmental,
personal care, household and industrial products.



Flavurence, specialising in natural fruit flavours, is a major flavour supplier
to food and beverage producers in the west coast of the USA.



Laboratorias Krauss, based in Mexico, a supplier of sweet flavours to the food
industry in Mexico, Latin America and the Caribbean.



Fructamine, a leading Italian producer of naturally extracted flavours, serving
European savoury, bakery and soft drinks markets.





                                               ends





For further information please contact : Telephone: + 353 66 718 2304

Frank Hayes,                             Fax: + 353 66 718 2972

Director of Corporate Affairs,           Email: [e-mail]

Kerry Group plc.                         Website: www.kerrygroup.com


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