Angus Pride

EXECUTIVE SUMMARY

This report analyzes the opportunities and risks associated with exporting Angus Prime Premium Beef to Hong and China and presents recommendations on the course of action toward so doing.

Worldwide Beef Bans are now Our Opportunity

Cargill Meat Solutions in is an excellent position to take advantage of the recent developments in the international beef market. As the worldwide beef bans are being lifted there are opportunities to regain market shares lost since December 2003, and to open new countries to our products.

The Beef bans did a lot of damage to American ranchers and producers initially but that has spurred us to become more efficient in our methods and more determined to market the best beef steaks in the world at prices that are good for consumers and good for us. There isn't a country in the world that can match the quality and taste than the cattle ranchers in the United States. Our Angus Prime Premium Beef is the cream of the crop and we are proud to have it among our brands.

Although we have had to focus on our domestic customers since the loss of so many export markets, we can see the hard work of our industry beginning to open the world to us again. The U.S. Department of Agriculture and the cattle associations have worked with universities and laboratories around the world to virtually eliminate the threat of BSE. It's time to aggressively