Trading Update/AGM Statement

Kerry Group PLC
27 May 2002



Kerry Issues Trading Update And Announces Further Development Initiatives
Kerry Group plc - Annual General Meeting - 27 May 2002


Kerry, the global food ingredients, flavours and consumer foods group, today
confirmed that the Group expects a good outturn for 2002 with overall
performance in line with market expectations.  Speaking at Kerry Group's
Annual General Meeting, Hugh Friel, Managing Director, also announced a number
of further bolt-on acquisitions in ingredients and consumer foods markets.
Mr Friel said that the acquisitions completed to-date in 2002 at a cost of  
Euro 117m represent a continuation of the Group's development across
ingredients, nutritional and selected consumer foods markets.  'Kerry is
constantly focused on expanding its food technology base and broadening its
product offerings through its global ingredients and flavour operations, and
will also continue to capitalise on growth opportunities in snack and
convenience categories of the UK and Irish consumer foods sectors', Mr Friel
said.  'Building on the Group's successful acquisitions programme in 2001, the
businesses acquired to-date in 2002 again enhance our leading edge technology
and customer services', he added.

Since year-end the Group has also concluded the sale of the Bailieboro milk
processing business for a consideration of Euro 33m and is progressing the
sale of the Artigarvan milk processing business in County Tyrone, Northern
Ireland, which was also acquired in 2001 as part of the Golden Vale
transaction.


Acquisitions Concluded Since Year-End

(a)  Ingredients Businesses.

Industrial Deshidratadora, S.A. de C.V. (IDSA)

In Mexico the acquisition of IDSA significantly expands the Group's
ingredients offering to convenience segments of the food manufacturing,
foodservice and retail sectors.  IDSA is the largest producer of convenience
blends in Mexico and is also a leading supplier of tomato powders.  Operating
from two manufacturing facilities in San Juan del Rio and Mexico City, the
acquisition complements Kerry's business from its existing Irapuato
facilities.  The acquired business expands Kerry's product offering to include
spray-dried fruit preparations for instant beverages, dairy applications,
ready-to-eat cereals, cereal bars and mueslis.  In addition IDSA has also
developed a strong retail branded franchise, including Benedik Coffee and
Lautrec coffee creamer.



Ringger Foods Inc.

Ringger Foods (USA) is a leader in the development and manufacture of
speciality extruded food ingredients, which provide nutritional fortification,
texture and flavour, including rice crisps used in granola, cereal and candy
applications; cookie pieces for confectionery, granola bars and cereals; and
soy crisps containing high protein soya.  The acquired business operating from
two facilities located in Gridley, Illinois, extends Kerry's market leadership
in North American extruded ingredients markets, complementing the Group's
acquisition of SPI Foods Inc., acquired in 2001.

Roskam Cereal & Agglomerates

In a further development of Kerry's sweet ingredients business in the U.S.
market, the Group also concluded the acquisition of the Roskam cereal
agglomerates business based in Grand Rapids, Michigan.  The business, which
will be integrated with the Group's existing sweet ingredients facilities in
New Century, Kansas, broadens Kerry's capabilities in cereal and snack growth
sectors.

Stearns & Lehman Inc.

The acquisition of Stearns & Lehman, a leading manufacturer of coffeehouse
chain, foodservice, and branded Italian-style flavoured syrups, beverage
flavourings and toppings for the speciality coffee and beverage industries,
was also concluded since year-end.  The acquired business, which is one of the
largest flavouring syrup manufacturers in the world and the leading private
label manufacturer of Italian-style syrups in the U.S., Canada, Europe and the
Pacific Rim, operates from manufacturing facilities in Mansfield, Ohio; Kent,
Washington; and Richmond (B.C.), Canada.


(b)  Consumer Foods.

Deli Products Ltd.

In Ireland, the acquisition of Deli Products represents a further development
in terms of Kerry Foods' targeted servicing of the snack and convenience
requirements of the fast-growing foodservice sector including sandwich bars
and the hot & cold serve-over counter trade.  The chilled convenience
'food-to-go' sector in Ireland is exhibiting growth in excess of 20% per
annum.

Northern Foods (Van Sales Service)

Kerry Foods Direct to Store - the leading distributor of chilled snacks to
independent retail and convenience stores in the UK, further extended its
market positioning through the acquisition of the Pork Farms Bowyers van sales
operation from Northern Foods plc.  Through this transaction Pork Farms will
be the exclusive brand for pastry and fried products to be distributed through
the enlarged van sales business.  The acquisition further strengthens Kerry
Foods' branded leadership in the UK sausage sector through the addition of the
Porkinsons brand and the use of the Bowyers brand under licence. 



For further information please contact:            Telephone: + 353 66 7182304
Frank Hayes,                                       Fax: + 353 66 7182972
Director of Corporate Affairs,                     Email: [e-mail]
Kerry Group plc.                                   Website: www.kerrygroup.com




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