Pilgrim's Pride Corporation has announced that it has reached an agreement with its lenders to extend the temporary waiver under its credit facilities through noon on 1 December 2008. Pilgrim's Pride continues to pursue opportunities to refinance and recapitalize its business, and to position itself to capitalize on its strategic advantages.

About Pilgrim's Pride

Pilgrim's Pride Corporation is the largest chicken company in the United States and Puerto Rico and the second-largest in Mexico. Pilgrim's Pride employs approximately 50,000 people and operates 35 chicken processing plants and 11 prepared-foods facilities. Pilgrim's Pride products are sold to food service, retail and frozen entree customers. The Company's primary distribution is through retailers, food service distributors and restaurants throughout the United States and Puerto Rico and in the Northern and Central regions of Mexico.