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 Custom Food Products, Inc. Rapidly Emerges from Chapter 11 Bankruptcy New Owner Pledges Continued Growth LOS ANGELES - June 14, 2007 – Less than 60 days after commencing proceedings under Chapter 11 of the U.S. Bankruptcy Code, the business of Custom Food Products, Inc. has reached agreement to emerge from bankruptcy financially stronger and positioned for future growth. The business will be purchased by Custom Food Products, LLC, a wholly-owned subsidiary of CML New MeatCo, L.L.C., which is an indirect wholly-owned subsidiary of Contrarian Capital Management, L.L.C.. Contrarian Capital Management, L.L.C. is a Greenwich, Connecticut-based multi-strategy asset management firm with over $5.0 billion of assets under management. “We look forward to working with CEO Eric Ek, the dedicated Custom Food Products, LLC workforce and the company’s customers & suppliers to expand the long-term, mutually beneficial relationships between Custom Food Products, LLC and its various constituents”,” said Steve Czech, Managing Director of CML New MeatCo, LLC. The business to be operated by Custom Food Products, LLC successfully fulfilled its post-bankruptcy filing pledges which, among other things, included maintaining all commitments to existing customers within 60 days from the date of its bankruptcy filing. The impact of the Chapter 11 process was tempered by the unwavering support from employees, customers, vendors, and lenders. “The partnership with Contrarian, coupled with the unwavering support of our Board of Directors, clients, vendors and suppliers has really made this remarkable turnaround possible,” said Eric Ek, CEO of Custom Food Products, L.L.C. “We have been able to secure the livelihood of our employees and continue our efforts to expand facilities around the U.S. This is a critical time for our business. We know that we have to deliver on the promises we have made and expect to have a record year in sales.” A key component to the businesses’ recent success was the establishment of a new, modern production facility in Carson, California, which enabled Custom Food to immediately increase its production capacity, expand its capacity incrementally over time, and ensure the highest level of food safety and quality in the industry. The Carson facility is the perfect complement to the company’s other production facility located in Owingsville, Kentucky About Custom Food Products, LLC Based in Carson, California, Custom Food Products, LLC is a leading meat, chicken and pork processor for more than 20 years. The company develops, manufactures, and markets pre-cooked meat, poultry, and pork products primarily to manufacturers of branded and private-label packaged foods. ### Contact: |
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