Business News

Dean Foods Chairman and CEO Refinances Remaining Loan Collateralized by Company Shares

Thursday 11. December 2008 - In conjunction with the forward sale and subsequent pay down of a personal loan announced on November 21, 2008, Dean Foods Company (NYSE:DF) today announced that Gregg Engles, Chairman and CEO, has refinanced the remaining portion of the personal loan collateralized by Dean Foods shares.

The new loan, collateralized by Dean Foods shares, does not include a margin call provision and eliminates the possibility of a forced sale of Dean Foods shares by Mr. Engles in the event of a share price decline. As consideration for the new loan, Mr. Engles has granted the lender a three-year call option with respect to approximately 71,500 Dean Foods shares.

The new loan completes Mr. Engles’ refinancing transactions.