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CHIQUITA IN COLOMBIA DIVESTMENT DISCUSSIONS

CINCINNATI, Ohio - Chiquita Brands International Inc. has confirmed reports that it is having discussions regarding the potential sale of its banana-producing and port operations in Colombia to Invesmar Ltd., the holding company of C.I. Banacol S.A. 

C.I. Banacol S.A. is a Colombian-based producer and exporter of bananas.

The discussions also involve a potential long-term agreement for Chiquita's purchase of Colombian bananas. There can be no assurance that these discussions will lead to an agreement or a transaction.

Chiquita currently produces approximately 11 million 40-lb. boxes of bananas in Colombia, which represents about 10% of its volume sourced from Latin America.

Chiquita Brands International is a leading international marketer, producer and distributor of high-quality bananas and other fresh produce, which are sold primarily under the premium Chiquita brand.

The company is one of the largest banana producers in the world and a major supplier of bananas in North America and Europe. 

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