Board of Directors approved 1st Quarter results as of March 31, 2008.

Net consolidated sales amounting toEuro 27.5 million (+10.4% vs 25.4 million as of 31/3/2007), EBITDA amounting to 2.3 million (vs 3.3 million as of 31/3/2007), EBIT amounting toEuro 1.2 million (vs. 1.7 million as of 31/3/2007), and pretax earnings amounting to 1 million (vs.Euro 1.6 million as of 31/3/2007).

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 ultrafresh products – closed the first quarter of 2008 with net consolidated sales amounting to Euro 27.5 million, with a 10.4% growth over Euro 25.4 million reported in the same period of the previous financial year.

EBITDA as of 31/3/2008 amounted to Euro 2.3 million vs. Euro 3.3 million as of 31/3/2007, while EBIT went from Euro 1.7 million as of 31/3/2007, to Euro 1.2 million as of 31/3/2008, and, finally, pretax earnings as of 31/3/2008 amounted to Euro 1 million vs. Euro 1.6 million as of 31/3/2007.

First quarter results in 2008 were affected by ever growing prices of raw material – milk – and by a drop in food consumption, including staple food products. In this context, for a fair comparison in line with actual market conditions and more consistent with today’s situation – characterized by repeated increases in the price of raw materials and by high management costs – it is more appropriate to compare first quarter results with those reported in the 4th quarter of 2007, namely EBITDA amounting to Euro 2.3 million vs. Euro 1.6 million reported in the 4th quarter of 2007, EBIT amounting to Euro 1.2 million as of 31/3/2008 vs. Euro 78 thousand reported in the 4th quarter of 2007.

Further, for the first time, the Group’s consolidated Financial Statement, in addition to Centrale del Latte di Torino & C. S.p.A., Centro Latte Rapallo S.p.A., Centrale del Latte di Vicenza S.p.A., and Salads & Fruits S.r.l, shall also include Frascheri S.p.A, a subsidiary company of which the groups holds a 40% stake, which has been consolidated proportionally with the owned share.

The Group’s net financial position as of March 31 2008 amounted to -19.6 million vs. Euro -16.4 million as of December 31 2007, and Euro – 4.3 million as of March 31 2007.

With regard to the Holding Company – Centrale del Latte di Torino – as of March 31 2008, it recorded net sales amounting to 16.2 million, vs. Euro 15.4 million as of March 31 2007, thus showing a 4.6% increase.

EBITDA went from Euro 2.5 million in the first quarter of 2007 to Euro 2 million in the first quarter of 2008; EBIT amounted to Euro 1.5 million vs. Euro 2.1 million in the first quarter of 2007; finally, pretax earnings went from Euro 2.1 million as of 31/3/2007, to Euro 1.5 million as of 31/3/2008.

Finally, it is hereby notified, that following the capital injection in Centrale del Latte di Vicenza S.p.A., fully underwritten by Centrale del Latte di Torino & C. S.p.A., the stake in the Vincenza based company has gone up from 85.4% to 91.74%.

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 – May 13, 2008