Kraft Foods Group Recommends Shareholders Reject Mini-Tender Offer

In response to an unsolicited mini-tender offer by TRC Capital Corp. (TRC) to purchase up to two million shares of Kraft Foods common stock, representing 0.34 percent of Kraft's shares of outstanding common stock, Kraft Foods Group is urging shareholders to obtain current market quotes for their shares; review the conditions to TRC's offer; consult with their financial advisors; and exercise caution. TRC's offer price of $44 per share is 4.37 percent below the closing price of Kraft's common stock on Dec. 13, 2012, the last full trading day prior to the offer, according to Kraft Foods.

Kraft does not endorse TRC's unsolicited mini-tender offer and recommends that shareholders do not tender their shares in response to it. The company is not associated with TRC, the unsolicited offer or the offer documentation.