February 24, 2004

Toronto, Ontario


DOMINION CITRUS LIMITED ANNOUNCES THE ACQUISITION OF DISTRIBUTION BO-FRUITS INC.

Dominion Citrus Limited (TSX:DMN; DMN.PR.A), a diversified food company, announced today the acquisition of Distribution Bo-Fruits Inc., a Quebec City based distributor of fresh produce with annual revenue of approximately $9 million.

“This is an important acquisition for our overall corporate strategy” commented Jacques Lavergne, Dominion President and CEO. “We have previously stated that acquisitions which offer geographic and customer base diversification are an important component of our growth strategy. The acquisition of Bo-Fruits provides a strategic physical presence for us in the very large Quebec produce marketplace and a new customer base which previously had been difficult to access. We are now positioned to help Bo-Fruits expand their market share and capitalize on unique regional opportunities. We have also added strength to our organizational structure with the addition of the 3 Bo-Fruits shareholders along with their 14 employees.”

Jean Corriveau, Bo-Fruits’ President stated “When we established Bo-Fruits in 1996 we had a vision on becoming a strong Quebec City produce distributor. We realized in the past 12 months that there were significant growth opportunities in our accessible market which required additional resources. The transaction with Dominion will allow us to exploit those opportunities and substantially grow our business.”

The acquisition will be funded by the issuance of Dominion common shares and cash-on-hand. There is a performance payment which will be paid based on the actual Bo-Fruits results for the 12 month period following closing. Dominion expects the acquisition to be accretive to earnings per share in the first year.

About Dominion

Dominion is a diversified food company supplying fresh produce, premium juices, maple syrup and Mediterranean food products to a wide variety of customers in retail, foodservice and food distribution businesses. The Company provides procurement, processing, repacking, sorting, grading, warehousing and distribution services to over 400 customers, with its major domestic markets being Ontario and Quebec. The Company also supplies products to customers in the United States and Europe. The website can be accessed at www.dominioncitrus.com.

Forward Looking Statements

The Company and its representatives periodically make written and oral statements, including those contained in the Annual Report, which may pertain to the Company or the environment in which Dominion Citrus operates. By their nature, forward-looking statements are subject to risks and uncertainties, which could result in actual performance or conditions being materially different from anticipated results.

Readers should not place undue reliance on these forward looking statements when making decisions, and should consider the date to which the statements were made. Except as required by applicable security law, management disclaims any intention or obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Investors:
E.A. Atkinson
V.P. Finance, CFO &
Corporate Secretary
416-521-6288
email: t.atkinson@dominioncitrus.com

Media:
J.L. Lavergne
President & CEO
416-521-6289
email: j.lavergne@dominioncitrus.com