Clarification

Kerry Group PLC
3 August 2001



Not for release, publication or distribution in whole or in part in or into
the United States, Canada, Australia or Japan




       RECOMMENDED OFFER ('Offer') FOR GOLDEN VALE PLC ('Golden Vale')


                      BY DAVY CORPORATE FINANCE LIMITED


                    ON BEHALF OF KERRY GROUP PLC ('Kerry')




                                CLARIFICATION


Having regard to the statement contained at section 2 of Part 2 of the Offer
Document relating to the entitlement of new Kerry Shares (to be issued as
consideration to accepting Golden Vale Shareholders under the Share Offer), to
the interim dividend due to be paid by Kerry, attention is drawn to the fact
that this entitlement will subsist only if the Offer becomes or is declared
unconditional in all respects before 1 October, 2001.




For reference:

Frank Hayes, Group Corporate Affairs Director, Kerry Group plc

Tel: + 353 66 718 2304

Eugenee Mulhern, Davy Corporate Finance Limited

Tel: + 353 1 679 6363


Terms defined in the Offer Document dated 11 July, 2001 have the same meaning
when used herein unless the context requires otherwise.


The directors of Kerry take responsibility for the contents of this
announcement. To the best of the knowledge and belief of the directors (who
have taken all reasonable care to ensure that such is the case) all of the
information contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such information.


Davy Corporate Finance Limited, which is regulated by the Central Bank of
Ireland, is acting exclusively for Kerry and for no-one else in connection
with the Offer and will not be responsible to anyone other than Kerry for
providing the protection afforded to customers of Davy Corporate Finance
Limited nor for providing advice in relation to the Offer.


The Offer is not being made, directly or indirectly, in or into United States,
Canada, Australia or Japan. Accordingly neither copies of this announcement
nor any related Offer documentation are to be mailed or otherwise distributed,
or sent in or into United States, Canada, Australia or Japan.




3 August, 2001.


END