Performance Food Group Announces Webcast of Fourth Quarter Conference

    Business Editors/Food Editors

    RICHMOND, Va.--(BUSINESS WIRE)--March 14, 2005--Performance Food Group (NASDAQ:PFGC) announced today that it will provide an online, real-time webcast and rebroadcast of its earnings conference call for the fourth quarter of 2004 on Wednesday, March 16, 2005.
    The live broadcast of Performance Food Group's quarterly conference call will be available online at www.pfgc.com on Wednesday, March 16, 2005, beginning at 10:00 am (Eastern Time). An online replay of the webcast will be available approximately one hour after the call. Any information disclosed on the quarterly conference call that has not been previously disclosed publicly will be available at www.pfgc.com. A press release announcing the Company's fourth quarter results will be issued prior to the conference call and will be available at www.pfgc.com.
    The Company also announced that its Audit Committee has completed its previously announced investigation into certain accounting practices in its Broadline segment and found no basis for any change to the Company's previously issued financial statements. The Company will file its annual report on Form 10-K no later than its deadline of March 17, 2005. Bob Sledd, Chairman and Chief Executive Officer commented, "We have spent a tremendous amount of time and effort over the last two years improving our internal controls. We are pleased that the Audit Committee investigation did not result in the need to make any changes to our previously issued financial statements. We are grateful to our associates who have worked very hard to improve our control environment. In all aspects of our business, they are the backbone of our Company. We will, of course, continue to cooperate fully with the Securities and Exchange Commission in its informal inquiry into the matter."
    Performance Food Group markets and distributes more than 65,000 national and private label food and food-related products to approximately 44,000 restaurants, hotels, cafeterias, schools, healthcare facilities and other institutions. The Fresh Express(R) line is the industry leader and pioneer of fresh packaged salads. For more information on Performance Food Group, visit www.pfgc.com.
    Certain statements made herein are forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are based on current expectations and management's estimates; actual results may differ materially. The risks and uncertainties which could impact these statements include, but are not limited to, general economic conditions; the relatively low margins and economic sensitivity of the foodservice business; the Company's reliance on major customers; the level of demand for the company's fresh-cut products; the possibility that the closing of the sale of the fresh-cut produce operations may not occur because of the failure of the closing conditions to be satisfied; the ability to identify and successfully complete acquisitions of other foodservice distributors; the Company's ability to successfully develop, produce and market new products and management of the Company's planned growth, including the Company's ability to successfully manage the transition of its sales mix and related production costs, all as detailed from time to time in the reports filed by the Company with the Securities and Exchange Commission.

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CONTACT: Performance Food Group Media Contact: Cheryl Moore, 804-484-6273 or Investor Contact: Kevin Collier, 804-287-8109

KEYWORD: VIRGINIA INDUSTRY KEYWORD: TRANSPORTATION SUPERMARKETS RESTAURANTS FOODS/BEVERAGES RETAIL CONFERENCE CALLS SOURCE: Performance Food Group

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