Statement re UK Consumer Meat

Glanbia PLC
13 May 2002



             Glanbia plc announces proposal to cease operations in

                        UK sliced cooked meats business

Glanbia plc announces that it is proposing to cease operations at one of its UK
subsidiary businesses, Glanbia Consumer Meats ('GCM'), due to continuing and
deteriorating trading difficulties. Employees of GCM are currently being
consulted on this proposal, which is being made with great reluctance and only
after examining all other possibilities.

The management proposal arises following a detailed strategic review of the
business and employee consultation process, which commenced in early March. The
purpose of the review and consultation was to determine future options available
to GCM following the loss of substantial volumes effective from June 2002
onwards. The review reluctantly concluded that, as matters currently stand,
cessation is the only viable option given the excess capacity available in the
business and the intensely competitive marketplace in which it operates.

If the proposed cessation of operations goes ahead, approximately 717 staff will
be made redundant at the GCM facilities in Bradford and Milton Keynes. Glanbia
will make every effort to assist staff to achieve re-employment through job-shop
services, career counselling and training. Potential opportunities for
redeployment within Glanbia will also be assessed.

Commenting, Glanbia plc Group Managing Director, John Moloney, said, 'This
proposal is being made with reluctance and regret following a full examination
of all of the alternatives. Unfortunately this business is moving into a severe
loss making situation and, as matters currently stand, it has no real or
reasonable prospect of trading out of its difficulties in the current market
environment.'

If the proposal goes ahead, the business and/or assets will be disposed of,
giving rise to an estimated net loss (principally non-cash) of Stg£41 million /
Eur65.5 million relating to asset write-offs, cash closure costs and the write
back through the profit and loss account of goodwill (Eur38 million) previously
written off to reserves. This loss would be treated as an exceptional item in
the Group's 2002 financial statements.

Background to Glanbia Consumer Meats:

Glanbia Consumer Meats supplies the UK retail and food service sectors with a
range of premium and standard sliced cooked meats, sandwich meats and impulse
convenience foods. Glanbia entered this business when it acquired Ashmount Foods
in Bradford in 1990. The Group subsequently acquired Beni Foods in Milton Keynes
in 1997 and thus became a leading supplier to the UK market.



Since the second half of 2000, this business unit has faced progressively
difficult market conditions due to growing sector over capacity, declining
margins, high raw material costs and consolidation of supply to major retailers.
The loss of substantial volumes effective from mid 2002, together with an
increasingly uncompetitive and inflexible cost base, has currently placed the
business in an unsustainable position.

ENDS

13 May 2002

Enquiries to:

Michael Patten, Group Director of Communications, Glanbia plc

Tel: [phone] (office), 00353-87-2414502 (mobile)

*Exchange rate as at 10/5/02: Eur1.00 = Stg£0.6257



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