Investors

Patties Foods Ltd. (PFL) made its debut as a public company on the Australia Stock Exchange (ASX) today, with a closing price of $1.92, a 9.7% premium to its listing price of $1.75.

Patties Foods Managing Director, Mr Richard Rijs, said the first day of trading was an exciting event in the 40 year history of the company.

“I’d like to welcome our new shareholders to the company and thank them for giving their support to Patties Foods,” Mr Rijs said.

“Many of these new shareholders are employees who have contributed strongly to our success.

“I am particularly pleased our shares have debuted at a premium, however, I hope that our new shareholders see Patties Foods as a long-term investment in one of Australia’s best known and respected food companies.

“A total of 139 million Patties Foods shares were listed on the ASX today – 81 million shares representing shares owned by existing shareholders and a further 58 million new shares.

“Our strategy is to maximise shareholder returns through the continued expansion of the business, including both organic growth and acquisition opportunities as they become available.

”I am confident in the company’s ability to execute that strategic plan and to deliver forecast growth.”

Patties Foods will trade on a deferred settlement basis under the ASX code “PFL”. Normal trading is expected to commence on 10 November 2006.