PENX (MM)

Penford Food Ingredients, a division of Penford Corporation (NASDAQ: PENX), today announced that it has entered the growing market for companion pet chews and treats. �We have extended our expertise in carbohydrate technology and food science to bring our customers innovative products that address the requirements of today�s consumers,� said John Randall, President, Penford Food Ingredients. Recognizing opportunities to connect product development, food science, product safety and efficacy, Penford created a platform that can deliver a variety of proprietary formulations, applications and services to the pet industry. Penford has developed a range of extruded and injection molded treats and chews for pets that are based on new carbohydrate technology. These products are designed to address consumer demands for safer and more functional products that enhance health and quality of life for companion pets. Penford Corporation President and Chief Executive Officer Tom Malkoski stated, �Our entry into the pet segment is consistent with our business model of identifying unmet market needs, applying technology to develop products that create value for our customers and delivering desired benefits to end consumers.� Penford will exhibit its range of new products at the 2007 Petfood Forum, a premier event for the pet food industry, taking place this week in Chicago. About Penford Food Ingredients Penford Food Ingredients is a leading supplier of specialty starches, dextrose and dextrins to the processed food and nutraceutical industries. Penford Food Ingredients is headquartered in Centennial, Colo., and operates production facilities in Wisconsin, Idaho, Washington, and Iowa. For more information, please call 800-652-4732 or visit www.penfordfoods.com.