Tyson Foods, Inc. (NYSE: TSN) today announced that it is extending the expiration date of its offer to purchase for cash up to 50.1% of the outstanding shares of common stock of IBP, inc. (NYSE: IBP). The offer is now scheduled to expire on January 24, 2001 at 12:00 midnight, New York City time. Except as modified by this extension, the terms and conditions of the cash tender offer remain in effect and unmodified. As of the close of business on January 16, 2001, 78,253,224 shares of IBP common stock, representing 74.1% of the total outstanding shares, had been tendered and not withdrawn pursuant to the cash tender offer.