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Non-Tech : LIFEWAY FOODS (LWAY) -- Ignore unavailable to you. Want to Upgrade?

To: mark cox who wrote (344)	9/9/1999 9:20:00 AM
From: Steve Cox	Read Replies (1) \| Respond to of 352

IT'S DANNON... #1 Dairy co. in the world ! Thursday September 9, 8:01 am Eastern Time Company Press Release Danone Groupe To Acquire Stake in Lifeway MORTON GROVE, Ill.--(BUSINESS WIRE)--Sept. 9, 1999--Lifeway Foods, Inc. (NASDAQ : LWAY - news) announces today that it has executed a letter of intent with Danone Groupe (NYSE : DA - news) of Paris, France detailing the general terms and conditions under which Danone Groupe may acquire up to a 20 percent equity stake in Lifeway Foods from the company and certain shareholders in privately negotiated non-market transactions. The companies expect the transaction to be completed within 60 days. The completion of the transaction is subject to the negotiation of final documentation. As part of the transaction, Danone Groupe is to provide Lifeway with certain support in marketing and sales as well as for the distribution of its products in the U.S.A. Michael Smolyansky, President and CEO of Lifeway, commented, ''Our new ally Danone Groupe opens very attractive opportunities to Lifeway Foods, especially in marketing of cultured probiotic products, as well as in sales development.'' Lifeway is a manufacturer of cultured, probiotic and functional food products in the health food industry, and is America's leading supplier of the cultured dairy product known as kefir. The Company markets 12 flavors of kefir and does a brisk business exporting its products to Eastern Europe. The Company recently introduced a dairy based immune-supporting dietary supplement beverage called Basics Plus(TM), as well as Kefir Starter for consumers to make kefir at home or in travel. With the recent introduction of America's first non-dairy soy kefir called Soytreat (TM), the Company is entering into the soy milk market and is exploring other opportunities to develop soy-based products. Danone Groupe is the French leading food group with 1998 net sales of $14.4 billion. It is #1 worldwide in dairy products, with its flagship brandname Danone (Dannon in the U.S.A.) and is #1 in sweet biscuits, marketed under brands such as Lu. It is also #2 worldwide in bottled water with brands including Evian and Dannon Natural Spring Water. For more information, contact Michael Smolyansky, President, Lifeway Foods, Inc. at (847) 967-1010 or e-mail at lway@linkom.net or visit www.lifeway.net.