Rica Foods, Inc. (Amex: RCF) announced yesterday that its projected earnings are going to be substantially the same as last fiscal year.

``Our current market price does not reflect the strength or condition of our company. Our acquisitions are projected to close on schedule, and we are excited about the future these opportunities present. We understand that the overall U.S. stock market is trading below expectations, but there is no other reason that we know of why the price of our stock has decreased over the past few weeks,'' Mr. Calixto Chaves, Chairman of RCF, said today.

``We believe that our company is fundamentally sound and that the market will recognize our potential,'' Mr. Chaves concluded.

This press release contains ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties or other factors which may cause actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. For more complete information concerning factors that could affect the Company's results, reference is made to the Company's registration statements, reports, or other documents filed with the Securities and Exchange Commission.

For more information contact us at (305) 477-1804, or email to: rpiedra@ricafoods.com or mmarenco@ricafoods.com.