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PRESS RELEASE

Trading update
First nine months of 2008

Waarschoot, 12 November 2008

Main events in the third quarter of 2008

Ready Meals Division:
In July 2008, the earlier announced reorganisation of the French commercial and administrative organisation and of the production structures at the Alby-sur-Chéran (France) site, was achieved within the provided budget of 1,1 million EUR. A non current provision was set up in this respect in 2007. This reorganisation was necessary in order to adapt the French organisation to the effects of the re-negotiation and termination by the group of a number of high volume contracts in the French market. This reorganisation should allow Ter Beke to further restore the profitability of its French operations.

Processed Meats division:
In the beginning of April 2008, the group decided to transfer the production of poultry products, and the employment in relation thereto, from the Ruiselede site to the Waarschoot site. This decision was taken because the existing facilities and capacity in Ruiselede were insufficient to address the growth in poultry products. This transfer has been completed within the provided timing and within the provided budget of 3 million EUR.

Activities and results evolution

The group's turnover in the first nine months of 2008 is 7,4% higher than the turnover in the same period of 2008. This is primarily due to the inclusion of the results of the Dutch company Berkhout Verssnijlijn in the consolidated results. Berkhout was taken over in September 2007.

On a like for like basis, the group's turnover decreased slightly in the first nine months of 2008. The reasons for this were already presented at the publication of the half year results. In the third quarter, sales in the summer months July and August were below expectations. In September, sales went up again, both in the processed meats and the ready meals division.

The considerable increase of raw materials continued to put pressure on the margins in the third quarter, primarily in the processed meats division. In the first nine months of 2008 the group was unable to charge more than EUR 2 million in raw material prices in the sales prices, which made certain cost measures inevitable.

Prospects for 2008

If sales in the last quarter of 2008 are in line with previous years and unless the market environment significantly deteriorates, the group expects that the result for the full year 2008 will exceed the result of 2007.

For more information, please contact:

Media Marc Hofman Managing Director Telephone: +32 (0)9 370 13 16 E-mail: m.hofman@terbeke.be

Investor Relations René Stevens CFO Telephone: +32 (0)9 370 13 45 E-mail: rené.stevens@terbeke.be

Financial calendar

	Annual Results 2008	19 February 2009 after trading hours
	Annual report 2008	At the latest 30 April 2009
	Business update first quarter 2009	8 May 2009 after trading hours
	General Meeting 2009	28 May 2009 at 11.00
	Half year result 2009	28 August 2009 after trading hours