Meeting of Shareholders approved Draft Balance Sheet for 2008. Appointed the new Board of Auditors, Chairman: Marco Maria Balosso; Statutory Auditore: Vittoria Rossotto and Giovanni Rayneri: Acting Auditors: Giovanni D’Amelio, Paolo Pierangelo Grisoni, and Michela Rayneri. Nicola Codispoti appointed new Director.

The Meeting of Shareholders of Centrale del Latte di Torino – a Company listed in the Star Segment of Borsa Italiana (the Italian Stock Exchange) which produces and sells fresh milk, dairy, and extra-fresh produce – approved the Balance Sheet draft for 2008.

Centrale del Latte di Torino Group as of December 31, 2008 reported net consolidated sales amounting to Euro 104.4 million, with a 5% increase from Euro 99.7 million reported in the previous financial year. EBITDA as of 31/12/2008 amounted to Euro 6.7 million vs. Euro 8.8 million as of 31/12/2007, while EBIT went down from Euro 4.5 million as of 31/12/2007 to Euro 727 thousand as of 31/12/2008.

Due to income taxes amounting to Euro 1.4 million, depreciations for Euro 5.1 million – reporting a 29.3% increase vs. Euro 3.9 million as of 31/12/2007 related to the construction and start-up of the new plant in Vicenza – , reserves and devaluations on shareholdings out of precautionary reasons amounting to Euro 869 thousand Euro, the consolidated financial statement as of December 31 2008 closes with net losses for Euro 1.2 million, as against net profits for Euro 751 thousand Euro reported as of 31/12/2007.

The net financial position as of 31/12/2008 amounted to Euro – 30 million versus Euro -16.4 million recorded as of 31/12/2007, and yet improved as against Euro -31 million as of September 30, 2008. The changed financial position from 2007 to 2008 FY is strictly due to the completion of the new plant in Vicenza, as well as payable financial interest on the investments made for its construction.

The results for 2008, apart from the strong incidence of depreciations calculated on the investment for the new plant in Vicenza and related financial charges, were affected by constantly high raw material (milk) prices, which became more stable only in the last quarter of 2008, thus allowing for some margin recovery. Indeed, in the last quarter of 2008, Ebitda amounted to 8.7%.

It should also be pointed out that a severe reduction in food consumption continued, coupled by major changes in the milk and dairy industry in Italy, where the presence of Private Labels is increasing, while small retail businesses are undergoing a severe crisis and losing market shares to retail chains.

The Company believes that new product offerings and the search for innovative market segments might give a fundamental contribution to coping with this situation. For this reason, thanks to the innovative R&D centre in operation at the Plant in Vicenza, the CLT Group has recently launched a new line of Smoothie products. SMOOTHIE is a new category of beverages, 100% fruit, no preservatives, flavorings, or added sugars. This category of modern and healthy products is already very popular in the UK, Northern Europe and, more recently, even in France.

As to the results reported by Centrale del Latte di Torino, the Holding Company, as of December 31 2008, posted net sales amounting to Euro 59.4 million, vs. Euro 60.1 million as of Dec. 31 2007. EBITDA went from Euro 7.3 million as of 31/12/2007 to Euro 5.9 million as of 31/12/2008; EBIT as of 31/12/2008 amounted to Euro 4.2 million vs. Euro 5.5 million in the same period of the previous year; finally, profits, after a Euro 2.2 million devaluation of shareholdings, went from Euro 2.5 million as of 31/12/2007 to Euro 86 thousand Euro as of 31/12/2008.

Further, it is hereby notified that, beginning from 2008 FY, the subsidiary company Frascheri S.p.A. will be consolidated in the CLT Group’s Financial Statement. Consolidation will be calculated according to the proportional method, based on the (40%) share held in the subsidiary company.

In terms of business evolution, it is pointed out that a partial recovery of margins, already reported during the last quarter of 2008, went on in the first months of 2009. However, in the current context of economic recession and financial uncertainty, it is not possible today to confirm that the sales figures (in value) reported in 2008 will be reached in 2009 FY.

The Meeting of Shareholders further resolved to raise the number of Directors from 9 to 10, hence appointing Mr. Nicola Codispoti as a new director.

Nicola Codispoti, 58 years old, after several stints with domestic and international companies in the food industry, has been working with Centrale del Latte di Torino & C. S.p.A. as Sales Manager since 1995. Over the past few years, he has taken up various offices, which he is still holding, in all the Group’s companies.

Finally, the Meeting of Shareholders appointed the Board of Auditors for the 2009 – 2011 three year period, as follows: Marco Maria Balosso, Chairman of the Board of Auditors, Vittoria Rossotto and Giovanni Rayneri, Statutory Auditors, and Giovanni D’Amelio, Paolo Pierangelo Grisoni, and Michela Rayneri, Acting Auditors.

Pursuant to the Consolidation Act, section 154 clause 2 bis, Mr. Vittorio Vaudagnotti, the Manager in charge of preparing the corporate Accounting Books, herewith represents that the information contained in this Press Release conforms with corporate accounting documents, records, and books.

Turin – April 24 2009