011230 Tyson Adds New Board Members, Declares Dividend

Springdale, AR - In its regularly scheduled quarterly board meeting on November 30, Tyson Foods Board of Directors voted to add three new board members and declared a dividend on its stock.

Robert L. Peterson was elected to the Tyson board. Peterson served as chairman of the board and chief executive officer of IBP, inc. from August 1981 until the merger of IBP into Tyson on September 28, 2001. Previously, he served as president and chief operating officer of IBP from 1977 to 1981. He was a director of IBP from 1976 to 2001.

Jo Ann R. Smith, president of Smith Associates, an agricultural marketing firm, was also elected to the Tyson board. Smith has served in her position at Smith Associates since 1993. Previously, Smith served as assistant secretary for marketing and inspection services for the U. S. Department of Agriculture from 1989 to 1993 and has served in numerous capacities in the livestock industry. Smith is a former president of the National Cattlemen's Beef Association and has chaired the Cattlemen's Beef Promotion and Research board. She was a director of IBP from 1993 to 2001.

Richard L. Bond, co-chief operating officer and group president of Tyson, was also elected to the Company's board. Bond served as president and chief operating officer of IBP from March 1997 until the merger of IBP into Tyson. Previously, he served as president of IBP fresh meats from 1995 to 1997, executive vice president of IBP beef division from 1994 to 1995 and IBP group vice president of beef sales and marketing from 1989 to 1994. He was a director of IBP from 1995 to 2001.

The company had previously announced the appointments of Peterson and Bond, subject to their confirmation by the board after the completion of the IBP transaction.

John Tyson, Tyson chairman and CEO said, “Jo Ann brings to the board an independent perspective as a cattle producer and former USDA official. Her joining, along with Bob and Dick being officially confirmed, gives us three knowledgeable industry leaders on our board. We look forward to their contributions to the future success of our company.”

The Board of Directors also declared a quarterly dividend of $.04 per share on Class A common stock and $.036 per share on Class B common stock, payable on March 15, 2002 to shareholders of record at the close of business on March 1, 2002.

Tyson Foods, Inc., founded in 1935 with headquarters in Springdale, Arkansas, is the world's largest processor and marketer of beef, chicken and pork. Tyson Foods produces a wide variety of brand name, processed food products and is the recognized market leader in almost every retail and foodservice market it serves. The company, with 2001 pro forma revenues nearing $25 billion, has 120,000 team members and more than 300 facilities and offices in 32 states and 22 countries.

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