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Chiquita Named One Of Top 20 ‘Green’ Stocks

Chiquita Named One Of Top 20 ‘Green’ Stocks

Published 08-13-02

Submitted by Chiquita Brands International, Inc.

CINCINNATI, Ohio - Chiquita Brands International, Inc. (NYSE: CQB) announced today that SustainableBusiness.com, publisher of The Progressive Investor newsletter, has named the company to its Top 20 All-Star Sustainable Stock Picks, known as the SB20. To develop the list, SustainableBusiness.com asked leading investment advisors to recommend companies that were both financially well positioned and strongly committed to minimizing their impact on the environment.

"The SB20 companies are the very top 'green gems' - companies that should be in every sustainable investor's portfolio," said Dr. Rona Fried, chief executive officer of SustainableBusiness.com and editor of The Progressive Investor. "We want to reward Chiquita for taking a leadership position in an industry that has yet to embrace sustainable practices. Chiquita, by its commitment to pursue the Rainforest Alliance's Better Banana Project, has shown tremendous improvement in its environmental and social performance. We hope Chiquita will be a role model for its industry and will continue to improve its performance."

"While we focus on shareholder value, we haven't lost sight of our Core Values," said Cyrus Freidheim, chief executive officer of Chiquita Brands International. "Of course, there's a compelling moral value to corporate responsibility, but it also makes smart business sense. It's all part of positioning Chiquita as the supplier of choice for leading retailers, the brand of choice for enlightened consumers and a stock to hold for any socially responsible investor."

"I shocked my colleagues when I told them about Chiquita's impressive environmental performance record," said Patrick McVeigh, vice president of investment research for Lowell, Blake & Associates, who suggested Chiquita for the SB20. "We included Chiquita because it is emerging as a strong company with a bright future. We believe Chiquita has an important role to play in showing other firms how to integrate tough financial and social issues."

The Progressive Investor is a monthly financial newsletter published by SustainableBusiness.com. Each issue draws on a group of world-class sustainable investment analysts for their insights and opinions on viable investments in the "green" business sector. For more information on the SB20, visit www.sustainablebusiness.com.

Chiquita Brands International is a leading international marketer, producer and distributor of high-quality fresh and processed foods. The company's Chiquita Fresh Group is one of the largest banana producers in the world and a major supplier of bananas in North America and Europe. Sold primarily under the premium Chiquita® brand, the company also distributes and markets a variety of other fresh fruits and vegetables. In addition, Chiquita Processed Foods is the largest processor of private-label canned vegetables in the United States. For more information, visit the company's web site at www.chiquita.com.

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