PRESS RELEASE Extraordinary and Ordinary Shareholders' Meeting

Approved the amendments to the Bylaws

Approved the 2013 financial statements

Approved the distribution of a dividend of 0.029 on each eligible common share

Elected a Board of Directors, the Chairman of the Board of Directors and the Board of

Statutory Auditors *********************

The Shareholders' Meeting of Parmalat S.p.A., convened today on a single calling at the STARHOTELS ROSA GRAND, 3 Piazza Fontana, 20122 Milan, meeting in extraordinary session, agreed to amend, in accordance with the motion submitted by the shareholder Sofil S.a.s., the following articles of the Company Bylaws: 11 "Board of Directors," 12 "Requirements of Independent Directors," 18 "Committees,", 19 "Compensation of the Board of Directors" and
21 "Board of Statutory Auditors."
The Shareholders' Meeting, convened in ordinary session, approved the financial statements for the 2013 reporting year, which ended with a net profit of 109.5 million euros (at the consolidated level the net profit amounted to 223.2 million euros) and resolved to distribute a dividend of 0.029 euros on each eligible common share. The dividend will be payable on May 22, 2014, with May 19,
2014 coupon tender date, to the shares registered in the accounting records on May 21, 2014
(record date).
The Company announces that, on April 9, 2013, the Consob requested the following information:
1) a description of the procedures aimed at identifying the decisions "influenced" by the company that exercises guidance and coordination, as per Article 2497-ter of the Italian Civil Code.
2) an indication of the reasons and interests "the assessment of which had an impact" on the
decisions "influenced" by the company that exercises guidance and coordination, as per Article 2497-ter of the Italian Civil Code, for transactions other than related-party transactions;
3) if, in the opinion of the Board of Directors, no transactions of the type described in Item (2)
above were executed in 2013, communicate this information in the course of the
Shareholders' Meeting;
asking that the abovementioned disclosures be listed in the minutes of the Shareholders' Meeting and in this press release.

Parmalat S.p.A. Sede: Via delle Nazioni Unite, 4 43044 Collecchio (Parma) Italia Tel.+39.0521.8081 Fax +39.0521.808322

Cap. Soc. € 1.825.562.281 i.v. R.E.A. Parma n. 228069 Reg. Imprese Parma n. 04030970968 Cod. Fisc. e P. IVA n. 04030970968

Società soggetta a direzione e coordinamento di B.S.A. S.A.


As required by the Consob, the Company specifies that, with regard to the "description of the procedures aimed at identifying the decision "influenced" by the company that exercises guidance and coordination," Parmalat, in addition to complying with the requirements of Article 2391-bis of Italian Civil Code regarding related-party transaction, has currently adopted a Group Policy governing the abovementioned transactions throughout the Group.
More specifically, the abovementioned Policy, which was approved by the Internal Control, Risk Management and Corporate Governance Committee in June 2011, specifies: (i) that its intended recipients are the Chief Executive Officers of Group subsidiaries, who are responsible for the Policy's correct implementation at the subsidiaries; (ii) that its scope of implementation at the personal level is variable and is defined in the Group control chart furnished quarterly by the Corporate Affairs Department; and (iii) that the Chief Executive Officers of the individual companies are required to provide the Parent Company with a quarterly report, included in the reporting package, listing any related-party transactions.
As for the existence of a specific procedure aimed at identifying the decisions "influenced" by the company that exercises guidance and coordination, please note that, as there does not appear to be a cogent statutory obligation concerning the need to adopt a procedure of this type beyond the provisions governing related-party transactions, this issue is addressed through internal Group directives, currently not yet formally set forth in specific procedures, furnished by management consistent with the system for the delegation of authority.
It is also worth mentioning that, recently, the Company, working with the support of an external consultant, launched a project aimed at identifying areas of its governance rules that could be improved with regard to this issue.
With regard to the request: (1) to specify "for transactions other than related-party transactions" the reasons and interests "the assessment of which had an impact" on the decisions "influenced" by the company that exercises guidance and coordination in accordance with Article 2497-ter of the Italian Civil Code," and (2) "if, in the opinion of the Board of Directors, no transactions of the type described above were executed in 2013," to communicate this information in the course of the Shareholders' Meeting, please note that, as described in the report on operations pursuant to Article 2428 of the Italian Civil Code, Parmalat's management represented to the Board of Directors that no decisions or transactions "influenced" by the party that exercises guidance and coordination over Parmalat could be found among transactions other than related-party transactions. Moreover, no evidence could be found of directives, orders or impositions by the controlling company relevant for the purposes of Article 2497-ter of the Italian Civil Code that could qualify certain decisions by Parmalat as being "influenced" in the meaning of this word that can be derived from the statutes and the copious relevant commentary, according to which the only decisions that can be qualified as being influenced are those made by a company subject to guidance and coordination on the basis of directives, orders or impositions by its controlling company, relatively stringent albeit not formally issued, the implementation of which could potentially conflict with the interest of and/or could be prejudicial to the controlled company.
Consequently, absent the factual prerequisites for applying the abovementioned regulation, the Company did not provide in 2013, any indication of reasons and interests "the assessment of which had an impact" on the "influenced" decisions because none of the decisions made during the abovementioned period may be considered as having been "influenced," in the meaning of the word mentioned above.

The Shareholders' Meeting, in ordinary session, proceeded with the election of the Board of
Directors and Board of Statutory Auditors, as stated below.
The following candidates were elected to the Board of Directors:
1. Gabriella Chersicla, Chairperson (*)
2. Antonio Lino Sala
3. Riccardo Perotta (*)
4. Patrice Gassenbach
5. Paolo Francesco Lazzati (*)
6. Laura Gualtieri (*)
7. Umberto Mosetti (*)

(*) Candidates who declared that they qualify as independent Directors.

The Directors from number 1 to number 6 were drawn from slate number 2, filed by the majority shareholder Sofil S.a.s on March 24, 2014, while the Director number 7 was drawn from slate number 1, filed on March 24, 2014 by the minority shareholders "Fidelity Funds", "Gabelli Funds LLC, "Setanta Asset Management Limited" and "Amber Global Opportunities Master Fund Ltd":
Gabriella Chersicla was elected Chairperson of the Board of Directors
The following candidates were elected to the Board of Statutory Auditors:
1. Giorgio Loli (Statutory Auditor)
2. Alessandra Stabilini (Statutory Auditor))
as Statutory Auditors drawn from slate number 2, filed by the majority shareholder Sofil S.a.s on
March 24, 2014;
and
3. Michele Rutigliano (Chairman)
as a candidate drawn from slate number 1 filed on March 24, 2014 by the minority shareholders "Fidelity Funds", "Gabelli Funds LLC, "Setanta Asset Management Limited" and "Amber Global Opportunities Master Fund Ltd," which received the second highest number of votes and, consequently, Mr. Rutigliano was named Chairman of the Board of Statutory Auditors.
The following candidates, drawn from slated filed on March 24, 2014 by the shareholder Sofil S.a.s. and the shareholders "Fidelity Funds", "Gabelli Funds LLC, "Setanta Asset Management Limited" and "Amber Global Opportunities Master Fund Ltd," were elected as Alternates:
4. Saverio Bozzolan (Alternate)
5. Marco Pedretti (Alternate)
The Shareholders' Meeting also adopted a resolution concerning the compensation for the Board of Directors and the Board of Statutory Auditors. For the Board of Directors the total compensation was set at 1.000.000 euros before statutory tax withholdings annually for the entire Board of Directors and, for the Directors who will serve on Board Committees, approved an additional variable compensation based on actual attendance of Committee meetings in the amount of 3,900

euros per meeting for each Committee member and 6,500 euros per meeting for each Committee
Chairman.
The compensation for the Board of Statutory Auditors was set at 50,000 euros annually for the
Statutory Auditors and 75,000 euros for the Chairman.
The term of office of the Directors and the Statutory Auditors will run for 3 reporting years, i.e. until the Shareholders' Meeting convened to approve the financial statements at December 31, 2016.
Exhaustive information about the personal and professional background of the members of the Company's governance bodies is available on the Company website: www.parmalat.com, Corporate Governance - Shareholders' Meeting page
With regard to the election of the Board of Directors and its compensation, the effectiveness of the respective resolutions is suspended pending the recording of the adopted resolution, on Extraordinary session, in the Parma Company Register.
Please also note that, pursuant to Article 2, Section 5, of the Warrant Regulations, the warrants will again be exercisable as of May 22, 2014.
Milan, April 17, 2014
Parmalat S.p.A.

distributed by