What's cooking? (formerly: Ter Beke)

Earnings Release • May 13, 2011

Press release 13 May 2011 – 7:30 a.m. Regulated information www.terbeke.com

TRADING UPDATE FIRST QUARTER 2011

In a difficult market environment, Ter Beke realised in the first quarter of 2011 a turnover that is quite stable compared to the same period of 2010.

The margin in both divisions is under pressure because of the strong increase in raw material prices. For the remainder of 2011, the general expectation is that the prices of certain important raw materials will further increase. To the extent the group would not succeed in timely charging on these increases in the sales prices, this will affect the results of the group.

In 2011, Ter Beke invests further in increasing the efficiency of its production and in further cost control and cost reduction. Ter Beke also continues to invest in its ready meals brand Come a casa® , through publicity and promotion campaigns.

The market and location studies on the joint venture for Central and Eastern Europe are carried out as planned and the actual incorporation of the joint venture is scheduled for the near future.

CONTACTS

For questions about this press release or for further information, please contact:

Marc Hofman René Stevens Managing Director CFO

Tel. +32 (0)9 370 13 16 Tel. +32 (0)9 370 13 45 m.hofman@terbeke.be rene.stevens@terbeke.be

You can also consult this press release and send your questions to us via the Investor Relations module of our website (www.terbeke.com)

Press release 13 May 2011 – 7:30 a.m. Regulated information www.terbeke.com

FINANCIAL CALENDAR

General Meeting 2011: 26 May 2011 at 11.00 am Ex-coupon date: 9 June 2011 Dividend payment date: 15 June 2011 Annual results 2011: 30 April 2012 at the latest

Half year results 2011: 26 August 2011 before market opening Business update third quarter 2011: 4 November 2011 before market opening

TER BEKE IN BRIEF

Ter Beke (Euronext Brussels: TERB) is an innovating Belgian fresh foods group selling its range of products in 10 European countries. The group has 2 core activities: processed meats and fresh ready meals; it has 9 industrial sites in Belgium, the Netherlands and France and employs approximately 1.850 people. Ter Beke generated a turnover of EUR 402 million in 2010.

Processed meat Division:

• Producer and slicer of processed meats for the Benelux, the UK and Germany
• 4 production plants in Belgium (Wommelgem, Waarschoot, Marche-en-Famenne, and Herstal) and 4 centres for the slicing and packaging of processed meats, 2 of which are in Belgium (Wommelgem and Veurne) and 2 in the Netherlands (Wijchen and Ridderkerk)
• Innovating in the segment of prepackaged processed meats
• Distribution brands and own brand names L´Ardennaise®, Pluma® and Daniël Coopman®
• Approximately 1.100 employees

Ready meals Division:

• Producer of fresh ready meals for the European market
• Market leader in chilled lasagne in Europe
• 3 production plants, 2 of which are in Belgium (Wanze and Marche-en-Famenne) and 1 in France (Alby-sur-Chéran)
• Brand names Come a casa® and Vamos® in addition to distribution brands
• Approximately 750 employees