Post Foods Considering Capacity Rationalization

               Post Foods Considering Capacity Rationalization

PR Newswire

ST. LOUIS, Mo., March 21, 2013

ST. LOUIS, Mo., March 21, 2013 /PRNewswire/ --Post Holdings, Inc.
(NYSE:POST), a leading manufacturer, marketer and distributor of branded ready
to eat cereals, today announced that it is considering closing its
manufacturing facility in Modesto, California to improve operational
efficiency and to better position the Company for future growth. Post will be
soliciting input from the union that represents the hourly employees to ensure
that employees' interests are represented before the Company makes a final
decision on the matter, which is expected by the end of April 2013.


"We are committed to addressing our excess capacity," said Terence E. Block,
President and Chief Operating Officer. "This initiative, if we proceed, would
provide the increased efficiency necessary to compete in today's environment."

The Modesto plant has approximately 140 employees.Production is expected to
be moved to other Post manufacturing facilities within its existing network in
the event the plant closes.

"If Post decides to close the Modesto plant, we are committed to helping our
employees through the transition," said Mr. Block.

Forward-Looking Statements

Certain matters discussed in this press release and on the conference call are
forward-looking statements, including statements which use the word "expects",
"estimates" or the phrase "currently expects." Such statements involve certain
risks and uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. Potential risks and
uncertainties include the impact of our separation from Ralcorp and risks
relating to our ability to operate effectively as a stand-alone, publicly
traded company; our high leverage and substantial debt, including covenants
that will restrict the operation of our business; the impact of the
restatement of Post's financial statements; significant increases in the costs
of certain commodities, packaging or energy used to manufacture our products;
changes in our cost structure, management, financing and business operations
following the separation; labor strikes or work stoppages by our employees;
our ability to achieve benefits from our separation; our obligations to
indemnify Ralcorp if the separation is taxable under certain circumstances;
restrictions on our taking certain actions due to tax rules and covenants with
Ralcorp; our ability to continue to compete in our product market against
manufacturers of both branded and private label cereal products and our
ability to retain our market position; our ability to maintain competitive
pricing, successfully introduce new products or successfully manage our costs;
our ability to successfully implement business strategies to reduce costs;
impairment in the carrying value of goodwill or other intangibles; the loss or
bankruptcy of a significant customer; allegations that our products cause
injury or illness, product recalls and product liability claims and other
litigation; our ability to anticipate changes in consumer preferences and
trends; changes in consumer demand for ready-to-eat cereals; our ability to
service our outstanding debt or obtain additional financing; disruptions in
the U.S. and global capital and credit markets; legal and regulatory factors
including changes in food safety, advertising and labeling laws and
regulations; disruptions or inefficiencies in supply chain; fluctuations in
foreign currency exchange rates; consolidations among the retail grocery and
foodservice industries; change in estimates in critical accounting judgments
and changes to or new laws and regulations affecting our business; losses or
increased funding and expenses related to our qualified pension plan; loss of
key employees; changes in weather conditions, natural disasters and other
events beyond our control; business disruptions caused by information
technology failures; and other risks described in the Company's filings with
the Securities and Exchange Commission. These forward-looking statements
represent the Company's judgment as of the date of this press release. The
Company disclaims, however, any intent or obligation to update these
forward-looking statements.

About Post Holdings, Inc.

Post Holdings, Inc. is the parent company of Post Foods, LLC. Post has
enriched the lives of consumers, bringing quality foods to the breakfast table
since the company's founding in 1895. Post's products are generally sold to
supermarket chains, wholesalers, supercenters, club stores, mass
merchandisers, distributors, convenience stores and the foodservice channel in
North America. Those products are manufactured at four facilities located in
Battle Creek, Michigan; Jonesboro, Arkansas; Modesto, California; and Niagara
Falls, Ontario. Post's portfolio of brands includes diverse offerings to meet
the taste and nutritional needs of all families, including such favorites as
Honey Bunches of Oats®, Pebbles™, Great Grains®, Post Shredded Wheat®, Post®
Raisin Bran, Grape-Nuts®, and Honeycomb®. With the acquisition of Attune
Foods, Post's portfolio of brands now also includes Attune®, Uncle Sam® and
Erewhon®. Post is dedicated to health and wellness, offering consumers a
variety of cereal choices to meet their nutritional needs from whole grain and
fiber to lower sugar offerings. For more information, visit 

SOURCE Post Holdings, Inc.

Contact: Robert V. Vitale, Chief Financial Officer, +1-314-644-7601
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