Mr. George Paleologou reports

PREMIUM BRANDS HOLDINGS CORPORATION ANNOUNCES THE CLOSING OF THE OVER-ALLOTMENT OPTIONS EXERCISED IN CONNECTION WITH ITS RECENTLY COMPLETED $600 MILLION EQUITY AND CONVERTIBLE DEBENTURE OFFERINGS

Premium Brands Holdings Corp. has closed the issue and sale of: (i) an additional 430,860 subscription receipts for additional gross proceeds of approximately $42-million; and (ii) an additional $22.5-million aggregate principal amount of 5.50 per cent convertible unsecured subordinated debentures, pursuant to the exercise in full of the overallotment options granted to the syndicate of underwriters in respect of the company's recently completed $600-million equity and convertible debenture offerings, led by CIBC Capital Markets, BMO Capital Markets, National Bank Financial Inc., Raymond James Ltd. and Scotiabank. The full exercise of the overallotment options increased the total gross proceeds of the offering to approximately $665-million.

The net proceeds from the issue and sale of the overallotment subscription receipts will be held in escrow pending closing of the company's previously announced indirect acquisition of all of the issued and outstanding shares of Stampede Culinary Partners Inc. Following release of the proceeds from escrow, the company will use the net proceeds to finance, in part, the acquisition, as well as the company's expenses of the offering and the acquisition. The net proceeds from the sale of the overallotment debentures will initially be used to reduce existing indebtedness under the company's senior revolving credit facility, thereby increasing the amount available to be drawn under such revolving credit facility to finance, in part, the acquisition, as well as the company's expenses of the offering and the acquisition. The balance of the cash purchase price for the acquisition will be satisfied by a draw on the revolving credit facility.

About Premium Brands Holdings Corp.

Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across Canada, the United States and Italy.

We seek Safe Harbor.