Dreyer’s Grand Ice Cream, Inc. (NNM:DRYR) yesterday announced that the company’s board of directors has approved an increase in the quarterly cash dividend rate to $0.06 per common share. The increased rate, which is equivalent to an annual rate of $0.24 per common share, will be effective in the first quarter of 2001 for holders of record on March 30, 2001.

Dreyer’s Grand Ice Cream, Inc. manufactures and distributes a full spectrum of premium and superpremium ice creams. The Company’s product lines are marketed under the Dreyer’s brand name throughout the thirteen western states, Texas and certain markets in the Far East, and under the Edy’s name throughout the remainder of the United States. Taken together, Dreyer’s and Edy’s is the best-selling brand of packaged ice cream and other premium frozen dairy dessert products in the country. Brands currently manufactured and distributed by Dreyer’s include Homemade, Whole Fruit Sorbet, Starbucks®, Godiva®, Dreamery(TM), M&M/Mars and Healthy Choice®. For more information on the Company and its products, please visit the Dreyer’s website at www.icecream.com.

For further information contact: William C. Collett, Treasurer at 510/601-4339