NEWSROOM
Press Releases 2003

March 17, 2003

Toronto, Ontario

Dominion Citrus Signs Letter of Intent to Acquire Delta Foods International.

TORONTO, ONTARIO--Dominion Citrus Limited (TSX: DMN) is pleased to announce that it has signed a letter of intent to acquire a 100% interest in the business of Delta Foods International. of Brockville, Ontario.  The acquisition is subject to completion of financing, due diligence satisfactory to Dominion Citrus and to Dominion Citrus Board of Directors' approval.

Founded in 1989, Delta Foods is st1:country-region>Canada's fifth largest processor of maple syrup handling over 2.5 million kilograms of pure maple syrup annually at its modern 45,000 square foot HACCP approved facility.  The company sources maple syrup from producers in Ontario, Quebec, the Maritimes and New York State.  58% of Delta's sales are to customers in the United States, 31% to international customers and 11% to Canadian customers.   The company is ISO 9002 certified.

"As we continue to grow our business we will increasingly be looking to diversify our product offering while attempting to leverage our existing customer relationships" commented Jacques Lavergne, President and C.E.O. of Dominion.  "The acquisition of Delta fits perfectly into our criteria and should prove to be accretive to our earnings per share." 

FOR FURTHER INFORMATION PLEASE CONTACT: Dominion Citrus Limited, Jacques Lavergne, President and Chief Executive Officer, (416) 521-6289 or Ted Atkinson, Chief Financial Officer, (416) 521-6288.




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