Los Angeles, June 30, 2005 - Duff & Phelps, LLC served as independent financial advisor and rendered a solvency opinion to the board of directors of Del Monte Foods Co. in its stock repurchase transaction with Goldman Sachs International.

Del Monte Foods Co. (NYSE: DLM) has purchased approximately 12 million shares of DLM common stock from Goldman Sachs International in a private transaction in connection with an accelerated stock buyback (ASB) arrangement. The shares were repurchased for an upfront payment of approximately $125 million, or $10.42 per share, subject to a price adjustment provision and excluding commission. The upfront payment was funded with Del Monte Foods' cash balances.

Del Monte Foods (www.delmonte.com) is one of the country's largest and most well-known producers, distributors and marketers of premium quality, branded and private label food and pet products for the U.S. retail market, generating over $3 billion in net sales in fiscal 2005. Del Monte products are found in nine out of ten American households.

Duff & Phelps is a national investment banking and financial advisory firm focused on providing merger and acquisition, private placement, valuation, financial opinion and restructuring services. Since 1932, Duff & Phelps has been committed to delivering independent advice and service of exceptional quality to a broad range of public and private companies

Contact:

David Green
Managing Director
(415) 874-3199