Following discussions with its large shareholders, the Board of Premier Foods has decided to conduct a review of its strategic options for increasing shareholder value. In connection with these discussions, the following Board changes are announced: Daniel Wosner of Oasis Management Company Ltd. and Orkun Kilic of Paulson & Co Inc. will join the Board as Non-Executive Directors. Simon Bentley will join the Board as a Non-Executive Director. As part of a variety of existing positions, he is Executive Chairman of Cash on the Move, a UK mobile cash operator. Among other previous appointments, he was Deputy Chairman of lawyers Mishcon de Reya, Chairman and Chief Executive of Blacks Leisure Group plc and Senior Independent Director of Sports Direct International plc. To facilitate these changes Non-Executive Directors Ian Krieger and Jennifer Laing will be retiring from the Board. These changes will take place with immediate effect.