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Fiscal 2016 Comparable Q2 EPS Above Expectations; Private Label Transaction Expected to Close Early 2016; Near Term Focus on Driving Efficiency and Lamb Weston Spin

For the fiscal 2016 second quarter ended November 29, 2015, diluted earnings per share from continuing operations were $0.37 as reported, vs. $0.49 for the second quarter of fiscal 2015. After adjusting for items impacting comparability, comparable diluted EPS was $0.71 this quarter and $0.61 in the year-ago period.

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