KRAFT FOODS GROUP ANNOUNCES EXTENSION OF EXCHANGE OFFER

           KRAFT FOODS GROUP ANNOUNCES EXTENSION OF EXCHANGE OFFER

PR Newswire

NORTHFIELD, Ill., Jan. 9, 2013

NORTHFIELD, Ill., Jan. 9, 2013 /PRNewswire/ --

New $1,000,000,000 1.625% Notes due   for $1,000,000,000 1.625% Notes due
2015                                       2015
New $1,000,000,000 2.250% Notes due   for  $1,000,000,000 2.250% Notes due
2017                                       2017
New $1,034,657,000 6.125% Notes due   for $1,034,657,000 6.125% Notes due
2018                                       2018
New $900,000,000 5.375% Notes due     for $900,000,000 5.375% Notes due 2020
2020
New $2,000,000,000 3.500% Notes due   for $2,000,000,000 3.500% Notes due
2022                                       2022
New $877,860,000 6.875% Notes due     for $877,860,000 6.875% Notes due 2039
2039
New $787,483,000 6.500% Notes due     for $787,483,000 6.500% Notes due 2040
2040
New $2,000,000,000 5.000% Notes due   for $2,000,000,000 5.000% Notes due
2042                                       2042

Kraft Foods Group, Inc. (NASDAQ: KRFT) announced today that it will extend its
offer to exchange (the "Exchange Offer") up to $9,600,000,000 aggregate
principal amount of its (i) new $1,000,000,000 1.625% Notes due 2015, (ii) new
$1,000,000,000 2.250% Notes due 2017, (iii) new $1,034,657,000 6.125% Notes
due 2018, (iv) new $900,000,000 5.375% Notes due 2020, (v) new $2,000,000,000
3.500% Notes due 2022, (vi) new $877,860,000 6.875% Notes due 2039, (vii) new
$787,483,000 6.500% Notes due 2040, and (viii) new $2,000,000,000 5.000% Notes
due 2042 (collectively, the "Exchange Notes") for a like principal amount of
its (i) outstanding $1,000,000,000 1.625% Notes due 2015 (the "Outstanding
2015 Notes"), (ii) outstanding $1,000,000,000 2.250% Notes due 2017 (the
"Outstanding 2017 Notes"), (iii) outstanding $1,034,657,000 6.125% Notes due
2018 (the "Outstanding 2018 Notes"), (iv) outstanding $900,000,000 5.375%
Notes due 2020 (the "Outstanding 2020 Notes"), (v) outstanding $2,000,000,000
3.500% Notes due 2022 (the "Outstanding 2022 Notes"), (vi) outstanding
$877,860,000 6.875% Notes due 2039 (the "Outstanding 2039 Notes"), (vii)
outstanding $787,483,000 6.500% Notes due 2040 (the "Outstanding 2040 Notes"),
and (viii) outstanding $2,000,000,000 5.000% Notes due 2042 (the "Outstanding
2042 Notes"). All other terms of the Exchange Offer, as described in the
prospectus dated Dec. 7, 2012, remain unchanged.

(Logo: http://photos.prnewswire.com/prnh/20090420/KRAFTLOGO)

The Exchange Offer was scheduled to expire at 5:00 p.m., Eastern time, on Jan.
8, 2013. As of this date, tenders of (i) $997,440,000, or 99.7%, of the
Outstanding 2015 Notes, (ii) $999,140,000, or 99.9%, of the Outstanding 2017
Notes, (iii) $1,033,482,000, or 99.9%, of the Outstanding 2018 Notes, (iv)
$899,012,000, or 99.9%, of the Outstanding 2020 Notes, (v) $1,995,820,000, or
99.8%, of the Outstanding 2022 Notes, (vi) $875,627,000, or 99.7%, of the
Outstanding 2039 Notes, (vii) $787,156,000, or 99.9%, of the Outstanding 2040
Notes, and (viii) $1,966,700,000, or 98.3%, of the Outstanding 2042 Notes have
been received. The Exchange Offer will now expire at 5:00 p.m., Eastern time,
on Jan. 14, 2013, unless further extended by Kraft.

Additional Information

This release is for informational purposes only and is neither an offer to
exchange, nor a solicitation of an offer to sell, the Exchange Notes. The
Exchange Offer is made pursuant to the prospectus dated Dec. 7, 2012,
including any supplements thereto. The Exchange Offer is not being made to
holders in any jurisdiction in which the making or acceptance thereof would
not be in compliance with the securities, blue sky or other laws of such
jurisdiction.

ABOUT KRAFT FOODS GROUP

Kraft Foods Group, Inc. (NASDAQ: KRFT) is North America's fourth largest
consumer packaged food and beverage company, with revenues of approximately
$19 billion in 2011. Launched as a public and independent company on Oct. 1,
2012, the new Kraft has the spirit of a startup and the soul of a powerhouse.
The company has an unrivaled portfolio of products in the beverages, cheese,
refrigerated meals and grocery categories. Its iconic brands include Kraft,
Maxwell House, Oscar Mayer, Planters and JELL-O. Kraft's 25,000 employees in
the U.S. and Canada have a passion for making the foods and beverages people
love. Kraft Foods Group is a member of the Standard & Poor's 500 index. For
more information, visit www.kraft.com and www.facebook.com/kraft.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements including regarding the
timing of the Exchange Offer. The word "will" and similar expressions are
intended to identify the forward-looking statements. These forward-looking
statements involve risks and uncertainties, many of which are beyond Kraft's
control, and important factors could cause Kraft's actual results to differ
materially from those in the forward-looking statements. For additional
information on factors that could affect the forward-looking statements, see
Kraft's risk factors, as they may be amended from time to time, set forth in
Kraft's filings with the SEC, including its Registration Statement on Form 10.
Kraft disclaims and does not undertake any obligation to update or revise any
forward-looking statement in this press release except as required by
applicable law or regulation.

OFFERING RESTRICTIONS

This release does not constitute an invitation to participate in the Exchange
Offer in any jurisdiction in which, or to any person to or from which, it is
unlawful to make such invitation or for there to be such participation under
applicable securities laws. The distribution of this release in certain
jurisdictions may be restricted by law. Persons into whose possession this
release or the prospectus come are required to inform themselves about, and to
observe, any such restrictions.

SOURCE Kraft Foods Group

Website: http://www.kraftfoodsgroup.com
Contact: Leslie Sutton (media), 847-646-4538, news@kraftfoods.com, or
Christopher Jakubik, CFA (investors), 847-646-5494, ir@kraftfoods.com
 
Press spacebar to pause and continue. Press esc to stop.