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No. of Recommendations: 8
1. Investor Relations:

a. What is their Investor Relations contact phone # and email address?

b. What is the URL for the Company's website?

c. Does it provide last 5 years' detailed financials on its IR site?

d. Does it provide recent/archived conference calls /transcripts?

e. Who is its transfer agent and what are their contact details?
Mellon Investor Services LLC 85 Challenger Road Overpeck Center Richfield Park, NJ 07660 800-851-9677

2. History

a. How many years has it been in operation?
Although operations can be traced back to 1892, the Del Monte Fresh is an isolated venture since 1989. Del Monte Fresh and other associated companies were consolidated into FDP in 1996.

b. Which exchange is it listed on?
NYSE since 1997.

c. Is the company incorporated in a tax haven?
Yes in the Cayman Islands. Its executive office is in Coral Gables, Florida.

d. Was it spun off / bought out in the last 5 years?

e. What major acquisitions / divestitures has it made in the last 5 years?
Too many to mention :). DME and Can-Am.

f. Has it ever filed /does it plan to file for bankruptcy under Chapter 7 or 11?

3. Ownership:

a. What % of its shares outstanding is available as 'float'?
About 45%.

b. What is its % insider holding?
About 55%.

c. Are insiders net buyers or sellers in recent months?

d. What is its % Institutional holding?

e. Are institutions net buyers or sellers in recent months?

f. Has ownership changed significantly in the recent past?

g. Over the last 5 years has the number of shares outstanding significantly increased or decreased?
Increased, but not significantly.

4. Governance

a. What is its policy on board independence?

b. What is its policy on Audit Committee independence?

c. What is its policy on Compensation Committee independence?

d. What is its policy on Independent Auditors?

e. Have any recent Independent Audit reports been 'qualified'?

f. Are its SEC filings up to date?

g. Have there been any significant changes in accounting policy/reclassifications recently?
No. They have been GAAP compliant for several years now

h. Is any Government body (e.g. SEC, FTC, FCC, FDA etc.) currently investigating any aspect of its business?
Past rumours that have now dissipated.

i. Is litigation a current /potential issue?
Employee related litigations associated with the exposure to DBCP.
Bribe alegations related to mergers and acquisitions.

j. Has it submitted a 'clean' SARBOX certificate?

k. What is its Employee Stock Options policy?
Evidence of reduced issuing in the last few years.

l. Does it have any shareholder-unfriendly 'poison pills'?

m. What is its track record on community, ecology, diversity etc. issues?

5. Business

a. What is its main line of business?
Prodution and distribution of fresh produce.

b. What are its major products /services/business units?
Del Monte branded fuits and vegetables.

c. Which are its major geographical markets?

d. Has it changed its business or strategy significantly in the recent past?

e. Which sector does it compete in?

f. Which industry does it compete in?

g. Who are its major customers?

h. Who are its major suppliers?

i. Who are its major competitors?
Chiquitita Brands (CQB). Dole Food Company, Inc (Priv.). Fyffes plc. (Priv.)

6. Management

a. What is the company's mission?
To grow and distribute fresh produce in a worldwide base while building shareholder value.

b. What is the company's culture/value system?
To make money.

c. What are the company's short term / medium term goals?
Growth by acquisition. Continue worlwide expansion. Diversify product line. Increase average operating margins.

d. How long has current top management (Chairman/CEO/CFO) been in charge?
10 years.

e. Have there been any major senior management changes in the past 5 years?

f. Have top management been groomed internally or brought in from outside?
Mainly internal.

g. Has the management succession plan been defined?
No. Future leadership will probably be appointed to someone in the Ghazaleh family.

h. What's the track record of the CEO?

i. How does management compensation compare to that of key competitors?
Management's compensation is not specified.

j. Is management compensation closely tied to shareholder returns?
Yes, major owners.

k. Is management readily accessible to shareholders via
quarterly/annual conference calls to answer questions and provide revenue/earnings guidance?

Yes. The CEO is a regular at CCs

l. Is the workforce unionized? If so how well does the company manage labor relations?
Workforce is not homogenous in its unionization. Varies from country to country.
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