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000242 IBP Announces Dividend

February 19, 2000

Dakota Dunes, SD - IBP Chairman Robert L. Peterson announced that IBP's Board of Directors has declared a cash dividend of $.025 per share of common stock for the first quarter of 2000.

The dividend will be payable on April 17, 2000, to shareholders of record on March 10, 2000.

IBP is the world's leading producer of high quality fresh beef and pork, and supplies premium, fully prepared meats and other consumer-ready foods for the retail and foodservice industries. The company employs more than 49,000 people.

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