New World Pasta Company yesterday announced that it will discontinue manufacturing operations at its Louisville, Kentucky facility on or about March 31, 2002. The facility, which began operating in 1925, employs 17 salaried and 80 hourly employees. Production at the Louisville facility will be provided by other New World Pasta manufacturing facilities. New World Pasta had previously announced the closing of its Lebanon, Pennsylvania and Omaha, Nebraska plants.

“This completes the Company’s review of its manufacturing capabilities as a result of its July 30, 2001 purchase of the dry pasta business of Borden Foods Corporation, which included eleven of Borden’s pasta brands and six of its manufacturing facilities. The future closing of the Louisville plant, and the recent announcements of plant closings at Lebanon, Pennsylvania and Omaha, Nebraska are not a reflection on the efforts or capabilities of our employees at these facilities, which have been superior. These closings were the result of difficult but necessary decisions to enable New World Pasta to reduce its overall cost structure, increase efficiencies and better compete in the marketplace,” said John Denton, Chairman and Chief Executive Officer of New World Pasta.

The Company will provide severance and outplacement services to eligible individuals whose jobs were eliminated. While no exact date has been established, it is anticipated that the first separations from employment will begin on or after December 15, 2001.

New World Pasta is a leading branded dry pasta manufacturer in the United States. Headquartered in Harrisburg, Pennsylvania, New World Pasta has over 1400 employees worldwide.

Forward Looking Statement

This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company believes the assumptions underlying the forward-looking statements are reasonable. However, any of the assumptions could be inaccurate, and therefore there can be no assurance that the forward-looking statements contained in this release will prove to be accurate. Additional information that could cause actual results to vary materially from the results anticipated may be found in the Company’s most recent Form 10-K and other reports filed with the Securities Exchange Commission. Furthermore, the Company disclaims any obligation or intent to update any such factors or forward-looking statements to disclaim future events and developments.