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GraceKennedy Ltd: Corporate Structure

GraceKennedy Limited has announced that the number of personnel who will be displaced as a result of the new organization which becomes effective December 1, 2006 is 89, broken down as follows:

Retirees                                                        6

Redundancies                                           64

Personnel leaving (temporary,               19

contract, etc.)

The separation costs will be approximately $100 million.  The expected savings from this re-organization are estimated to be $300 million in the calendar year 2007.