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RENFRO FOODS BRINGS "FIRE" TO ICELAND

Icelandic consumers get "fired" up

FORT WORTH, Texas (April 21, 2003) When you think of Iceland, fiery foods aren't the first things to come to mind, but that may soon change. The Baugur Group, Iceland's largest retail company is now importing Mrs. Renfro's gourmet salsas and other products.

Among the Mrs. Renfro's products currently available to consumers are Black Bean Salsa, Garlic Salsa, Green Salsa, Peach Salsa and Nacho Cheese. By the end of spring / early summer four more products will be introduced: Roasted Salsa, Habanero Salsa, Chipotle Corn Salsa and Nacho-Sliced Jalapeno Peppers. Fleming is the distributor.

"We have been selling salsa sauces for about 15 years and the last five years the category has grown approximately 30 percent per year," said Einar Thorisson, director of buying for Reykjavik-based Adföng, one of Baugur's warehouses. "We started importing Mrs. Renfro's salsas because of the taste and quality. It is higher priced than other salsas in Iceland, but we don't worry about that; we feel we have a winner on our hands. Today the consumption of salsa is approximately 13 ounces per person and growing fast."

"We are extremely excited about this new relationship," said Bill Renfro, CEO, and a second-generation family member. "The desire for spicier foods continues to grow worldwide."

Fort Worth-based Renfro Foods manufactures a variety of sauces and relishes, including 26 Mrs. Renfro's products distributed through supermarkets and gourmet and gift shops in all 50 states, Canada and the Caribbean. Three generations of Renfros have devoted themselves to the family business since its founding in 1940.

Baugur-Iceland is the country´s largest general merchandise retailer, operating 77 stores in Iceland and Sweden, including discount, convenience and hypermarkets, and two distribution centers.

Contact: jc@interstargroup.com