Joint Statement by the Southern Shrimp Alliance and Charoen Pokphand Foods Public Company Limited

Southern Shrimp Alliance Agrees to End a Review of CP Foods’ Shrimp Antidumping Duties

Washington, DC—The Southern Shrimp Alliance and CP Foods, the leading shrimp producer and exporter in Thailand, have negotiated a  settlement agreement under which the antidumping duties applied to imported shrimp from CP Foods will remain at 5.95% and will not be  subject to an administrative review. The Southern Shrimp Alliance and CP Foods issue the following statements:

“The Southern Shrimp Alliance and CP Foods announce a settlement agreement to provide a safer shrimp market for American consumers. CP Foods and the Southern Shrimp Alliance remain competitors for sales in the U.S. shrimp market, and CP Foods will continue to be subject to antidumping duties. Yet, we are pleased to agree upon the importance of reliable sources of unadulterated shrimp for this market. The  cooperation of the Southern Shrimp Alliance and CP Foods to work against the importation of shrimp contaminated by antibiotics and other banned substances, and our shared commitment to prevent circumvention of the antidumping duties are important steps in that direction.”

–John Williams, Executive Director, Southern Shrimp Alliance

“CP Foods is pleased to agree with the Southern Shrimp Alliance to end the market uncertainty caused by the antidumping review. We and the  Southern Shrimp Alliance also share a strong interest in working together to better ensure a safe supply of shrimp to American consumers. While we remain competitors in the U.S. market, this agreement also represents important cooperation between CP Foods and the Southern  Shrimp Alliance to prevent circumvention of the antidumping duties.”

–Dr. Chingchai Lohawatanakul, Vice Chairman, CP Foods

Agreement Highlights:

o The Southern Shrimp Alliance (SSA) will withdraw its request for a recalculation of the antidumping duties applied to imports of warmwater  shrimp from CP Foods under the administrative review process. This action will remove litigation risks and reduce litigation costs for both  parties. The antidumping duties imposed on imports of shrimp from CP Foods between August 4, 2004 and January 31, 2006 will be final and  subject to liquidation. CP Foods will remain subject to antidumping duties of 5.95% on future imports.

o The Southern Shrimp Alliance and CP Foods will cooperate to enhance testing by United States or foreign government authorities of  exported and imported shrimp for banned antibiotics and other banned substances in the production of farm-raised shrimp. Both organizations will work together to improve compliance with food safety laws and regulations to address consumer concerns about illegal substances found in shrimp.

o CP Foods commits to continue its long standing policy to export shrimp to the United States that is safe and free of all banned substances.

o CP Foods also commits to continue to take all reasonable measures to prevent the transshipment or mislabeling of shrimp exports to the  United States that circumvent the antidumping duties.

The Southern Shrimp Alliance represents shrimp fishermen and processors from Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina and Texas.

CP Foods is the leading agro-industrial and food conglomerate in Thailand.

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