Document:

<PAGE>
                                                                    EXHIBIT 4.17

                               THIRD AMENDMENT TO
                      AMENDED AND RESTATED CREDIT AGREEMENT

                          Dated as of November 10, 2004

         This THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this
"AMENDMENT") by and among FRESH DEL MONTE PRODUCE INC., a Cayman Island company
("FRESH PRODUCE"), DEL MONTE FRESH PRODUCE N.A., INC., a Florida corporation
("FRESH N.A."), DEL MONTE FRESH PRODUCE INTERNATIONAL, INC., a Liberian
corporation ("FRESH INTERNATIONAL"), and FRESH DEL MONTE SHIP HOLDINGS LTD., a
Cayman Island company ("SHIP HOLDINGS") (Fresh Produce, Fresh N.A., Fresh
International and Ship Holdings are referred to herein collectively as the
"EXISTING BORROWERS" and each individually as an "EXISTING BORROWER"); DEL MONTE
FRESH PRODUCE B.V., a Netherlands corporation ("FRESH B.V."), DEL MONTE FRESH
PRODUCE (UK) LTD., an English limited company ("FRESH UK"), DEL MONTE FOODS
INTERNATIONAL LTD., an English limited company ("FOODS INTERNATIONAL"), DEL
MONTE INTERNATIONAL INC., a Panama corporation ("DEL MONTE INTERNATIONAL"), and
DEL MONTE EUROPE LTD., an English limited company ("DEL MONTE EUROPE") (Fresh
B.V., Fresh U.K., Foods International, Del Monte International and Del Monte
Europe are referred to herein collectively as the "NEW BORROWERS" and each
individually as a "NEW BORROWER" and, together with the Existing Borrowers are
referred to herein collectively as the "BORROWERS" and each individually as a
"BORROWER"); the entities identified as "Guarantors" on the signature pages
hereof (each a "GUARANTOR" and collectively, the "GUARANTORS"); the banks and
other lending institutions listed on the signature pages hereof as Lenders (the
"LENDERS"); and COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., "RABOBANK
NEDERLAND", NEW YORK BRANCH ("RABOBANK"), as administrative agent for the
Lenders (the "ADMINISTRATIVE AGENT").

                             PRELIMINARY STATEMENTS:

         WHEREAS:

         (1) The Existing Borrowers, the Administrative Agent, certain
Guarantors (the "EXISTING GUARANTORS") and certain Lenders (the "EXISTING
LENDERS") are parties to that certain Amended and Restated Credit Agreement
dated as of March 21, 2003, as amended by that certain First Amendment to
Amended and Restated Credit Agreement dated as of January 27, 2004 and as
further amended by that certain Second Amendment to Amended and Restated Credit
Agreement dated as of June 24, 2004 (as may be further amended, restated,
modified or supplemented from time to time prior to the date hereof, the "CREDIT
AGREEMENT").

         (2) In connection with the Credit Agreement, the Existing Borrowers and
their respective Subsidiaries executed and delivered the Guaranty Agreements and
the Security Documents in favor of the Administrative Agent to secure the
Obligations.

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         (3) Each of the New Borrowers desires to become a party to the Credit
Agreement as a "Borrower" thereunder (such New Borrowers to become "Borrowers"
under the Credit Agreement by executing and delivering a Borrower Joinder
Agreement (as defined herein)).

         (4) Each of the Borrowers desires to amend the Credit Agreement to,
among other things, (a) permit the New Borrowers to become "Borrowers" under the
Credit Agreement, (b) provide for the Incremental Term Loans (as defined herein)
to the Borrowers in an aggregate amount of up to U.S.$400,000,000 and (c)
increase the Revolving Commitment (as defined herein) from U.S.$400,000,000 to
U.S.$600,000,000 (such increase to be effected by way of certain of the Existing
Lenders increasing their Commitments (as defined in the Credit Agreement) as
indicated on Schedule C-1 hereto under the caption "Revolving Commitments" and
certain new Lenders executing and delivering a Lender Joinder Agreement (as
defined herein) (the "NEW LENDERS" and, together with the Existing Lenders, the
"LENDERS") and assuming a Revolving Commitment as indicated on Schedule C-1
hereto as of the date hereof, and the Administrative Agent and the Lenders have
agreed to the requested amendments, on the terms and conditions set forth
herein.

         (5) In connection with this Amendment, the New Borrowers and New
Guarantors (as defined below) will execute and deliver Guaranty Agreements and
Security Documents in favor of the Administrative Agent to secure the
Obligations.

         (6) Each Borrower and Guarantor acknowledges and agrees that the
security interests and guarantees granted to the Administrative Agent pursuant
to the Loan Documents shall remain outstanding and in full force and effect in
accordance with such other Loan Documents (except to the extent modified on the
Third Amendment Date) and shall continue to guaranty and secure the Obligations,
as applicable.

         (7) Each Borrower and each Guarantor acknowledges and agrees that (a)
the Security Documents and the other Loan Documents executed in connection
therewith and the collateral pledged thereunder shall secure, without
interruption or impairment of any kind, all Obligations under the Credit
Agreement and the other Loan Documents executed in connection therewith, as they
may be amended, restated, renewed, extended, consolidated and modified
hereunder, together with all other obligations hereunder; and (b) all Liens
evidenced by the Security Documents are hereby ratified, confirmed and
continued.

         NOW, THEREFORE, in consideration of the premises set forth above, the
terms and conditions contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree that all capitalized terms used but not defined herein shall have
the meanings ascribed to such terms in the Credit Agreement, and further agree
as follows:

         SECTION 1. AMENDMENTS.

                  1.1 AMENDMENTS TO SECTION 1.1 OF THE CREDIT AGREEMENT. Section
1.1 of the Credit Agreement, CERTAIN DEFINED TERMS, is hereby amended and
modified by deleting the definition of "Unused Commitment" in its entirety and
by adding the following definitions in appropriate alphabetical order (in the

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case of any new definition) and amending and restating in their entirety the
following definitions (in the case of any definition already included in Section
1.1 of the Credit Agreement):

                  "ADVANCE" means, as applicable, a Revolving Advance, a Swing
Line Advance or an Incremental Term Loan.

                  "APPLICABLE MARGIN" means for any Borrower on any date of
determination, (a) with respect to an Incremental Term Loan, the applicable
interest rate percentage governing such Tranche of Incremental Term Loans as set
forth in the related Notice of Incremental Term Loan Borrowing, and (b) with
respect to Revolving Advances, the applicable percentage indicated below which
corresponds to the Leverage Ratio (or senior debt rating, if applicable,
pursuant to Level 8 below) of Fresh Produce indicated below:

<TABLE>
<CAPTION>

----------- ------------------------------------------- ---------------------- -------------------- --------------------
                                                                                                     Applicable Margin
                                                          Applicable Margin     Applicable Margin       for Unused
                                                            for LIBO Rate         for Base Rate          Revolving
  Level                   Leverage Ratio                      Advances              Advances            Commitment
----------- ------------------------------------------- ---------------------- -------------------- --------------------
<S>         <C>                                               <C>                   <C>                   <C>
    1       Greater than or equal to 3.00 to 1.00              2.000%                0.750%               0.400%
----------- ------------------------------------------- ---------------------- -------------------- --------------------
    2       Less than 3.00 to 1.00, but greater than           1.750%                0.500%               0.400%
            or equal to 2.50 to 1.00
----------- ------------------------------------------- ---------------------- -------------------- --------------------
    3       Less than 2.50 to 1.00, but greater than           1.500%                0.250%               0.350%
            or equal to 2.00 to 1.00
----------- ------------------------------------------- ---------------------- -------------------- --------------------
    4       Less than 2.00 to 1.00, but greater than           1.250%                0.000%               0.300%
            or equal to 1.50 to 1.00
----------- ------------------------------------------- ---------------------- -------------------- --------------------
    5       Less than 1.50 to 1.00, but greater than           1.000%                0.000%               0.250%
            or equal to 1.00 to 1.00
----------- ------------------------------------------- ---------------------- -------------------- --------------------
    6       Less than 1.00 to 1.00, but greater than           0.750%                0.000%               0.200%
            or equal to 0.50 to 1.00
----------- ------------------------------------------- ---------------------- -------------------- --------------------
    7       Less than 0.50 to 1.00                             0.625%                0.000%               0.175%
----------- ------------------------------------------- ---------------------- -------------------- --------------------
    8       Senior Debt Rating of BBB (by S&P) and             0.500%                0.000%               0.125%
            Baa2 (by Moody's) or higher
----------- ------------------------------------------- ---------------------- -------------------- --------------------
</TABLE>

The Applicable Margin for each Revolving Advance shall be determined by
reference to the Leverage Ratio in effect from time to time at the end of each
fiscal quarter based on the financial statements for the most recently ended

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fiscal quarter and the three immediately preceding completed fiscal quarters;
provided, however, that (a) no change in the Applicable Margin shall be
effective until three Business Days after the date on which the Administrative
Agent receives financial statements pursuant to Section 5.16(b) and (c), as the
case may be, and a certificate of the Chief Financial Officer of Fresh Produce
demonstrating such Leverage Ratio, attaching thereto a schedule in form
reasonably satisfactory to the Administrative Agent of the computations used by
Fresh Produce in determining such Leverage Ratio, (b) the Applicable Margin
shall be the highest interest rate margin set forth above with respect to the
applicable Revolving Advances and Unused Revolving Commitment, respectively, if
Fresh Produce has not submitted to the Administrative Agent the information
described in clause (a) of this proviso as and when required under Section
5.16(b) or (c), as the case may be, for so long as such information has not been
received by the Administrative Agent, and (c) the Applicable Margin shall be
determined according to Level 8 above (rather than the Leverage Ratio) if the
senior debt rating of Fresh Produce at such time is rated BBB or higher by S&P
and Baa2 or higher by Moody's.

                  "BORROWER" and "BORROWERS" have the respective meanings
specified therefor in the introductory paragraph of this Agreement; provided,
however, "Borrower" and "Borrowers" shall also include any Subsidiary of Fresh
Produce acceptable to the Administrative Agent which executes and delivers a
Borrower Joinder Agreement to the Administrative Agent as of the Third Amendment
Date.

                  "BORROWER JOINDER AGREEMENT" means a joinder agreement in
substantially the form of Exhibit E-1 hereto and otherwise acceptable to the
Administrative Agent, entered into by the Administrative Agent and each
Subsidiary of Fresh Produce acceptable to the Administrative Agent dated as of
the Third Amendment Date whereby each such Subsidiary has agreed to be bound by
the terms and conditions of this Agreement and to become a "Borrower" hereunder
as of the Third Amendment Date.

                  "BORROWING" means a Revolving Borrowing, a Swing Line
Borrowing or an Incremental Term Loan Borrowing.

                   "COMMITMENT" means, with respect to any Lender at any time,
its Revolving Commitment and its Incremental Term Loan Commitment.

                  "CONSOLIDATED FIXED CHARGES" means, for Fresh Produce for any
period, the sum determined on a Consolidated basis of (a) interest expense of
all Debt of Fresh Produce and its Subsidiaries (including amortization of debt
discount in respect of such Debt), PLUS (b) scheduled or mandatory payments of
principal of all Debt (other than the Revolving Advances and the Swing Line
Advances, but including the Incremental Term Loans), PLUS (c) expenses in
respect of obligations of Fresh Produce and its Subsidiaries under Capitalized
Leases, PLUS (d) payments of dividends, paid or payable in each case, by Fresh
Produce and/or its Subsidiaries during such period; provided, however, that
Consolidated Fixed Charges shall not include any obligation under Foreign
Exchange Contracts or Hedge Agreements.

                  "DEL MONTE EUROPE LICENSE" means the Amended License Agreement
dated May 9, 1990 between DMC and Del Monte Foods Limited (now known as Del
Monte Europe Ltd.).

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                  "DEL MONTE INTERNATIONAL LICENSES" means (a) the Amended
License Agreement dated May 4, 1990 between DMC and Del Monte International and
(b) the Amended License Agreement dated May 9, 1990 between DMC and Del Monte
International.

                  "DOMESTIC LENDING OFFICE" means, with respect to any Lender,
the office of such Lender specified as its "Domestic Lending Office" opposite
its name on SCHEDULE L-1 hereto or in the Assignment and Acceptance or Lender
Joinder Agreement pursuant to which it became a Lender, as the case may be, or
such other office of such Lender as such Lender may from time to time specify to
the Borrowers and the Administrative Agent.

                  "FARM CREDIT LENDER" means a lending institution organized and
existing pursuant to the provisions of the Farm Credit Act of 1971, as amended,
and under the regulation of the Farm Credit Administration.

                  "INCREMENTAL TERM LOAN BORROWING" means a borrowing consisting
of simultaneous Incremental Term Loans of the same Tranche made by the
Incremental Term Loan Lenders.

                  "INCREMENTAL TERM LOAN COMMITMENT" means, with respect to any
Lender at any time, the amount set forth opposite such Lender's name on a Lender
Joinder Agreement as its "Incremental Term Loan Commitment" or, if such Lender
has entered into one or more Assignments and Acceptances, set forth for such
Lender in the Register maintained by the Administrative Agent pursuant to
Section 9.7(c) as such Lender's "Incremental Term Loan Commitment", with respect
to any Tranche of Incremental Term Loans; PROVIDED HOWEVER, after the initial
funding of any Tranche of Incremental Term Loans by such Lender, the Term Loan
Commitment of any Lender with respect to such Tranche shall be deemed to be in
an amount equal to the outstanding principal amount of Incremental Term Loans
owing to such Lender in connection with such Tranche.

                   "INCREMENTAL TERM LOAN LENDER" means any Lender having an
Incremental Term Loan Commitment or making Incremental Term Loans pursuant
thereto.

                  "INCREMENTAL TERM LOAN NOTE" means a promissory note of any
Borrower payable to the order of an Incremental Term Loan Lender, in
substantially the form of Exhibit B-2 hereto, in the principal amount of such
Incremental Term Loan Lender's Incremental Term Loan Commitment for any Tranche,
and any extensions, renewals or amendments to, or replacements of, the
foregoing; and "INCREMENTAL TERM LOAN NOTES" means all such promissory notes of
any Borrower in an aggregate principal amount equal to the aggregate Incremental
Term Loan Commitments of all Incremental Term Loan Lenders.

                  "INCREMENTAL TERM LOANS" shall mean the amounts advanced from
time to time by the Incremental Term Loan Lenders holding an Incremental Term
Loan Commitment to any Borrower as Incremental Term Loans under the applicable
Incremental Term Loan Commitment; provided, the aggregate amount of Incremental
Term Loans advanced under this Agreement shall not exceed U.S.$400,000,000.

                  "INTEREST PERIOD" means, for each LIBO Rate Advance comprising
part of the same Borrowing (or portion of the same Borrowing), the period
commencing on the date of such LIBO Rate Advance or the date of Conversion of
any Base Rate Advance into such LIBO Rate Advance, and ending on the last day of

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the period selected by any Borrower pursuant to the provisions below and,
thereafter, each subsequent period commencing on the last day of the immediately
preceding Interest Period and ending on the last day of the period selected by
the Borrower requesting a Borrowing pursuant to the provisions below. The
duration of each such Interest Period shall be one, two, three, or six months,
or with the consent of the Lenders, nine or twelve months, as such Borrower may,
upon notice received by the Administrative Agent not later than 11:00 A.M. (New
York City time) on the third Business Day prior to the first day of such
Interest Period, select; PROVIDED that:

                  (a) the duration of any Interest Period for any LIBO Rate
         Advance that commences before the repayment date for such Advance and
         otherwise ends after such repayment date shall end on such repayment
         date;

                  (b) if any Borrower fails to select the duration of any
         Interest Period for a LIBO Rate Advance, the duration of such Interest
         Period shall be one month;

                  (c) whenever the last day of any Interest Period would
         otherwise occur on a day other than a Business Day, the last day of
         such Interest Period shall be extended to occur on the next succeeding
         Business Day; provided that, if such extension would cause the last day
         of such Interest Period to occur in the next following calendar month,
         the last day of such Interest Period shall occur on the next preceding
         Business Day;

                  (d) whenever the first day of any Interest Period occurs on a
         day of an initial calendar month for which there is no numerically
         corresponding day in the calendar month that succeeds such initial
         calendar month by the number of months equal to the number of months in
         such Interest Period, such Interest Period shall end on the last
         Business Day of such succeeding calendar month; and

                  (e) such Borrower shall not select an Interest Period for a
         LIBO Rate Advance under the Revolving Commitment that ends after the
         Revolving Termination Date, and such Borrower shall not select an
         Interest Period for a LIBO Rate Advance under the Incremental Term Loan
         Commitment that ends after the Maturity Date.

                  "LENDER JOINDER AGREEMENT" means a joinder agreement in
substantially the form of Exhibit E-2 hereto and otherwise acceptable to the
Administrative Agent, by and between the Administrative Agent and a New Lender,
pursuant to which such New Lender agrees to (a) become a Revolving Lender
hereunder bound by the terms and conditions of this Agreement and assume a
Revolving Commitment in the amount set forth next to such New Lender's name on
SCHEDULE C-1 hereto, in each case as of the Third Amendment Date, or (b) become
an Incremental Term Loan Lender hereunder bound by the terms and conditions of
this Agreement and assume an Incremental Term Loan Commitment in the amount set
forth for such New Lender in such joinder agreement, as of the effective date of
such joinder agreement.

                  "LENDERS" means, collectively the Revolving Lenders and the
Incremental Term Loan Lenders, and "LENDER" means any one of them.

                  "LETTER OF CREDIT SUBLIMIT" means U.S.$100,000,000.

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                  "LIBO RATE" means, for any Interest Period for any LIBO Rate
Advance comprising part of the same Revolving Borrowing, an interest rate per
annum obtained by dividing:

                  (a) either (i) the rate per annum determined by Rabobank on
         the basis of the offered rates for deposits in U.S. dollars for such
         Interest Period which appear on Bloomberg page BBAM, pg.1 (Official BBA
         Libor Fixings) (or such other page or pages as the Administrative
         Agent, in agreement with the Borrowers and after consultation with the
         Lenders, shall nominate to replace that page or pages for the purpose
         of displaying offered rates of leading banks for London interbank
         deposits in U.S. dollars) as of 11:00 a.m., London time, on the day
         that is two Business Days preceding the first day of such Interest
         Period, or (ii) if a rate cannot be determined pursuant to clause (i)
         above, a rate per annum equal to the average (rounded upward to the
         nearest whole multiple of 1/16 of 1 % per annum, if such average is not
         such a multiple) of the rate per annum at which deposits in U.S.
         dollars are available to the Administrative Agent as determined by the
         Administrative Agent in London, England to prime banks in the interbank
         market, as of 11:00 a.m., London time, on the day that is two Business
         Days preceding the first day of such Interest Period, by

                  (b) a percentage equal to 100%, MINUS the LIBO Rate Reserve
         Percentage for such Interest Period.

                  "LIBO RATE ADVANCE" means (a) a Revolving Advance denominated
in U.S. dollars that bears interest at the LIBO Rate plus the Applicable Margin
in effect from time to time with respect to Revolving Advances that are LIBO
Rate Advances, and (b) a portion of an Incremental Term Loan denominated in U.S.
dollars that bears interest at the LIBO Rate plus the Applicable Margin in
effect from time to time with respect to that Tranche of Incremental Term Loans
that are LIBO Rate Advances. The LIBO Rate for any LIBO Rate Advance shall be
adjusted as of the effective date of any change in the LIBO Rate Reserve
Percentage.

                  "LIBOR LENDING OFFICE" means, with respect to any Lender, the
office of such Lender specified as its "LIBOR Lending Office" opposite its name
on SCHEDULE L-1 hereto or in the Assignment and Acceptance or Lender Joinder
Agreement pursuant to which it became a Lender (or, if no such office is
specified, its Domestic Lending Office), or such other office of such Lender as
such Lender may from time to time specify to the Borrowers and the
Administrative Agent.

                  "LOAN DOCUMENTS" means this Agreement, the Notes, the Guaranty
Agreements, the Security Documents, all L/C Related Documents, the Fee Letter,
the Supplemental Fee Letter, each Borrower Joinder Agreement, each Lender
Joinder Agreement, the Ratification Agreement, the documents executed in
connection with the Incremental Term Loans, each Notice of Borrowing, each
Notice of Issuance, any Foreign Exchange Contract between a Foreign Exchange
Bank and a Loan Party, and all other documents, instruments, certificates, and
agreements executed or delivered by Fresh Produce or its Subsidiaries in
connection with or pursuant to this Agreement. Without limiting the generality
of the foregoing, each amendment to this Agreement or to any other Loan
Document, each waiver of any provision of this Agreement or any other Loan

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Document, and each instrument and agreement executed in connection herewith or
therewith shall be deemed to be a Loan Document for all purposes of this
Agreement and the other Loan Documents.

                  "MATURITY DATE" means (a) (i) for any Incremental Term Loan
advanced on or before the third anniversary of the Third Amendment Date, five
years from the date such Incremental Term Loan is advanced, (ii) for any
Incremental Term Loan advanced after the third anniversary of the Third
Amendment Date but on or before the fourth anniversary of the Third Amendment
Date, four years from the date such Incremental Term Loan is advanced and (iii)
for any Incremental Term Loan advanced after the fourth anniversary of the Third
Amendment Date but on or before the Revolving Termination Date, three years from
the date such Incremental Term Loan is advanced, or (b) such earlier date as
payment of the Incremental Term Loan shall become due (whether by acceleration
or otherwise).

                  "NEW LENDER" means any Person that is an Eligible Assignee, is
approved by the Administrative Agent and Fresh Produce (such approval not to be
unreasonably withheld or delayed) and executes and delivers a Lender Joinder
Agreement to the Administrative Agent.

                  "NOTES" means, collectively, the Revolving Loan Notes and the
Incremental Term Loan Notes.

                  "NOTICE OF BORROWING" means a Notice of Incremental Term Loan
Borrowing, a Notice of Revolving Borrowing or a Notice of Continuation or
Conversion of Incremental Term Loan Borrowing, as applicable.

                  "NOTICE OF CONTINUATION OR CONVERSION OF INCREMENTAL TERM LOAN
BORROWING" has the meaning specified in Section 2.2(a).

                  "NOTICE OF INCREMENTAL TERM LOAN BORROWING" has the meaning
specified in Section 2.1(d).

                   "NOTICE OF REVOLVING BORROWING" has the meaning specified in
Section 2.2(a).

                  "PRO RATA SHARE" of any amount means, with respect to (a) any
Revolving Lender under the Revolving Commitment at any time, an amount equal to
(i) a fraction the numerator of which is the amount of such Revolving Lender's
Revolving Commitment at such time and the denominator of which is the Total
Revolving Commitment at such time, multiplied by (ii) such amount, (b) any
Incremental Term Loan Lender under the Incremental Term Loan Commitment at any
time, an amount equal to (i) a fraction the numerator of which is the amount of
such Incremental Term Loan Lender's Incremental Term Loan Commitment at such
time and the denominator of which is the aggregate Incremental Term Loan
Commitments of all Incremental Term Loan Lenders, multiplied by (ii) such
amount, and (c) with respect to any Lender at any time, an amount equal to (i) a
fraction the numerator of which is the sum of such Lender's Revolving Commitment
and such Lender's Incremental Term Loan Commitment at such time and the
denominator of which is the Total Commitment at such time, multiplied by (ii)
such amount.

                  "RATIFICATION AGREEMENT" means that certain Ratification
Agreement dated as of the Third Amendment Date by each of the Loan Parties in
favor of the Administrative Agent.

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                  "REQUIRED LENDERS" means, at any time, a Lender or Lenders
owed or holding not less than 51% of the Total Commitment; PROVIDED, HOWEVER,
that if any Lender shall be a Defaulting Lender at such time, there shall be
excluded from the determination of Required Lenders at such time (a) the
aggregate principal amount of the Revolving Advances made by such Lender and
outstanding at such time, (b) such Lender's Pro Rata Share of the Letter of
Credit Amount outstanding at such time, (c) such Lender's Unused Revolving
Commitment at such time, and (d) such Lender's Incremental Term Loan Commitment.
For purposes of this definition, (i) the portion of the Letter of Credit Amount
relating to the Letters of Credit issued by Rabobank and (ii) the aggregate
principal amount of Swing Line Advances owing to the Swing Line Bank shall be
considered to be owed to the Lenders ratably in accordance with their respective
Revolving Commitments, except to the extent any such Lender shall have failed to
purchase the participation in such Advance, in which case Rabobank shall retain
the right to vote such amount.

                  "REVOLVING ADVANCE" means an advance under the Revolving
Commitments pursuant to Section 2.1(a).

                  "REVOLVING BORROWING" means a borrowing consisting of
simultaneous Revolving Advances of the same Type made by the Revolving Lenders.

                   "REVOLVING COMMITMENT" means, with respect to any Lender at
any time, the amount set forth opposite such Lender's name on SCHEDULE C-1
hereto under the caption "Revolving Commitment" or, if such Lender has entered
into one or more Assignments and Acceptances, set forth for such Lender in the
Register maintained by the Administrative Agent pursuant to Section 9.7(c) as
such Lender's "Revolving Commitment", as such amount may be reduced at or prior
to such time pursuant to Section 2.5 or 2.10.

                  "REVOLVING LENDERS" means the banks, financial institutions
and other institutional lenders that have agreed to make Advances under the
Total Revolving Commitment hereunder, as indicated on SCHEDULE C-1 hereto under
the caption "Revolving Commitment" or in one or more Assignments and Acceptances
entered into from time to time and set forth in the Register maintained by the
Administrative Agent pursuant to Section 9.7(c).

                  "REVOLVING LOAN NOTE" means a promissory note of any Borrower
payable to the order of a Revolving Lender, in substantially the form of Exhibit
B-1 hereto, in the principal amount of such Revolving Lender's Revolving
Commitment, and any extensions, renewals or amendments to, or replacements of,
the foregoing; and "REVOLVING LOAN NOTES" means all such promissory notes of any
Borrower in an aggregate principal amount equal to the Total Revolving
Commitment.

                  "REVOLVING TERMINATION DATE" means the earlier of (a) November
10, 2009 and (b) the date of the termination in whole of the Revolving
Commitments pursuant to Section 2.5 or 7.2.

                  "SAICO" means Siam Agro Industry Pineapple & Others PCL, a
company governed by Thai law.

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<PAGE>

                  "SUPPLEMENTAL FEE LETTER" means that certain fee letter dated
as of the Third Amendment Date executed by the Borrowers in favor of the
Administrative Agent.

                   "THIRD AMENDMENT DATE" means November 10, 2004.

                   "TOTAL COMMITMENT" means, as of any date of determination,
the sum of the Total Revolving Commitments and the Incremental Term Loan
Commitments of all Incremental Term Loan Lenders.

                  "TOTAL REVOLVING COMMITMENT" means the aggregate of all
Revolving Lenders' Revolving Commitments not to exceed U.S.$600,000,000 at any
time, as such amount may be reduced pursuant to Sections 2.5 and 2.10.

                  "TRADEMARK LICENSES" means the Fresh International License,
the Wafer Licenses, the NAJ License, the Fresh International Sublicense, the
Fresh N.A. Sublicense, the Del Monte Europe License and the Del Monte
International Licenses.

                  "TRANCHE" means, with respect to any Incremental Term Loans,
all Incremental Term Loans made on the same date pursuant to the terms of the
same Notice of Incremental Term Loan Borrowing.

                  "UNUSED REVOLVING COMMITMENT" means, at any time,

                  (a) the Total Revolving Commitment, MINUS

                  (b) the sum of (i) the aggregate principal amount of all
         Revolving Advances made by the Revolving Lenders and outstanding on
         such date, PLUS (ii) the Letter of Credit Amount outstanding on such
         date.

                  "VOTING PARTICIPANT" has the meaning assigned to such term in
Section 9.7(e).

                  "VOTING PARTICIPANT NOTIFICATION" has the meaning assigned to
such term in Section 9.7(e).

                  1.2 AMENDMENT TO SECTION 2.1. Section 2.1 of the Credit
Agreement, EXTENSIONS OF CREDIT, is hereby deleted in its entirety and the
following is substituted in lieu thereof:

         "SECTION 2.1 EXTENSIONS OF CREDIT.

                  (a) REVOLVING ADVANCES. Each Revolving Lender agrees,
severally and not jointly, on the terms and conditions hereinafter set forth, to
make Revolving Advances in U.S. dollars to the Borrowers from time to time on
any Business Day during the period from the date hereof until the Revolving
Termination Date in an amount for each such Revolving Advance not to exceed such
Revolving Lender's Pro Rata Share of the Unused Revolving Commitment at such
time; PROVIDED that at such time, the sum of (i) the aggregate principal amount
of all Revolving Advances, (ii) the aggregate principal amount of all Swing Line
Advances, and (iii) the Letter of Credit Amount (the sum of clauses (i), (ii)
and (iii) being the "TOTAL CURRENT EXPOSURE"), after giving effect to such

                                       10
<PAGE>

Borrowing, shall not exceed the Total Revolving Commitment. Within the limits of
the Unused Revolving Commitment, the Borrowers may borrow under this Section
2.1(a), prepay or repay pursuant to Section 2.5 and reborrow under this Section
2.1(a).

                  (b) SWING LINE ADVANCES. The Borrowers may request the Swing
Line Bank to make, and the Swing Line Bank shall make, on the terms and
conditions hereinafter set forth, Swing Line Advances to the Borrowers from time
to time on any Business Day during the period from the date hereof until the
Revolving Termination Date in an aggregate amount not to exceed at any time
outstanding U.S.$15,000,000 (the "SWING LINE SUBLIMIT"); PROVIDED that at such
time the Total Current Exposure, after giving effect to such Borrowing, shall
not exceed the Total Revolving Commitment. No Swing Line Advance shall be used
for the purpose of funding the payment of principal of any other Swing Line
Advance. Each Swing Line Advance shall be made as a Base Rate Advance. Within
the limits of the Swing Line Sublimit, the Borrowers may borrow under this
Section 2.1(b), prepay or repay pursuant to Section 2.5 and reborrow under this
Section 2.1(b).

                  (c) LETTERS OF CREDIT. The Issuing Bank agrees, on the terms
and conditions hereinafter set forth, to issue letters of credit (each, a
"LETTER OF CREDIT") denominated in U.S. dollars for the account of any Borrower
from time to time on any Business Day from and after the date of the initial
Advance until the Revolving Termination Date in an aggregate amount not to
exceed at any time outstanding the Letter of Credit Sublimit in effect at such
time; provided that, after giving effect to the issuance of such Letter of
Credit, the Total Current Exposure shall not exceed the Total Revolving
Commitment. Each Letter of Credit shall have an expiry date which is 365 days or
less immediately following the date of the issuance of such Letter of Credit
(other than the Rabobank Italy Letter of Credit), but in no event shall any
Letter of Credit have an expiry date that occurs on a date later than the
Revolving Termination Date; PROVIDED, HOWEVER, a Borrower may request issuance
or renewal of a Letter of Credit with an expiry date after the Revolving
Termination Date if, at the time of such issuance or renewal, such Borrower
deposits into the L/C Cash Collateral Account an amount in immediately available
funds equal to the face amount of such Letter of Credit. The reimbursement
obligation under the Letter of Credit shall be payable in U.S. dollars in
accordance with Section 2.3(b). All amounts paid by the Issuing Bank under a
Letter of Credit shall, immediately upon the making of such payment and without
the necessity of further act or evidence, constitute Revolving Advances to the
requesting Borrower by the Issuing Bank hereunder for all purposes of this
Agreement (including, without limitation, the provisions of Section 2.4 and
Section 2.6), which shall be deemed made by the Issuing Bank, and the Issuing
Bank shall be entitled to all of the benefits of this Agreement and the other
Loan Documents with respect to such Revolving Advances. Each Letter of Credit
issued on behalf of any Borrower may be cancelled before its expiration date
without penalty if the beneficiary of the Letter of Credit delivers the original
Letter of Credit to the Issuing Bank. Each Letter of Credit issued under the
Existing Credit Agreement and outstanding as of the Agreement Date is listed on
SCHEDULE 2.1(C) hereto, and such existing Letters of Credit shall automatically
be deemed to have been issued and outstanding under this Agreement as of the
Agreement Date.

                                       11
<PAGE>

                 (d) INCREMENTAL TERM LOANS.

                           (i) At any time after the Third Amendment Date until
         180 days prior to the Revolving Termination Date, any Borrower may
         request an Incremental Term Loan Borrowing by delivering a Notice of
         Incremental Term Loan Borrowing to the Administrative Agent
         substantially in the form of Exhibit C-2 hereto (a "NOTICE OF
         INCREMENTAL TERM LOAN BORROWING"), specifying (subject to Section
         2.1(d)(iii)) therein the (1) amount of the Tranche of Incremental Term
         Loans requested (which Tranche shall be in a minimum principal amount
         of $100,000,000 and integral multiples of $50,000,000 in excess
         thereof), (2) requested advance date of the proposed Incremental Term
         Loans comprising such Tranche (which shall be at least 30 days but not
         more than 90 days from the date of delivery of the Notice of
         Incremental Term Loan Borrowing), (3) the interest rate to be
         applicable to all Incremental Term Loans in such Tranche, (4) the
         amortization and maturity date requested for all Incremental Term Loans
         in such Tranche, and (5) the amount of any upfront or closing fees to
         be paid by such Borrower to the Incremental Term Loan Lenders funding
         the Tranche of Incremental Term Loans requested. The Administrative
         Agent shall deliver a copy of each Notice of Incremental Term Loan
         Borrowing to each Lender. Each Notice of Incremental Term Loan
         Borrowing shall be binding on all Borrowers. At the time of delivery of
         the Notice of Incremental Term Loan Borrowing, Fresh Produce shall
         deliver to the Administrative Agent a certificate of the chief
         financial officer of Fresh Produce certifying (A) that Fresh Produce is
         in compliance with the financial covenants hereof before and after
         giving effect to such Incremental Term Loan Borrowing (based on
         combined actual results for the twelve month period ending on the last
         day of the last month for which financial statements of Fresh Produce
         are available, after giving effect to such Incremental Term Loan
         Borrowing), and (B) that no Event of Default then exists or would be
         caused thereby.

                           (ii) Each Lender (or New Lender) may, if, in its sole
         discretion, it elects to do so, offer to assume an Incremental Term
         Loan Commitment to fund a portion of the Tranche of Incremental Term
         Loans requested in such Notice of Incremental Term Loan Borrowing by
         notifying the Administrative Agent of the minimum and maximum amount of
         the Incremental Term Loan Commitment which such Lender would be willing
         to assume as part of such Incremental Term Loan Borrowing, not later
         than 14 days after the date of Administrative Agent's delivery of such
         Notice of Incremental Term Loan Borrowing to such Lender (or New
         Lender). If the Administrative Agent does not receive Incremental Term
         Loan Commitments from Lenders (or New Lenders) in an amount sufficient
         to fund the Incremental Term Loans requested in the Notice of
         Incremental Term Loan Borrowing, the Administrative Agent shall so
         notify Fresh Produce and the Notice of Incremental Term Loan Borrowing
         shall be deemed automatically rescinded; PROVIDED, the Borrowers may
         submit a replacement Notice of Incremental Term Loan Borrowing setting
         forth different terms for the requested Incremental Term Loan
         Borrowing. If the Administrative Agent receives Incremental Term Loan
         Commitments equal to or in excess of the amount necessary to fund the
         Incremental Term Loans requested in the Notice of Incremental Term Loan
         Borrowing, the Notice of Incremental Term Loan Borrowing shall be
         irrevocable by the Borrowers and the Administrative Agent shall have
         the right, in its sole discretion, to reduce and reallocate (within the
         minimum and maximum amounts specified by each such Lender in its notice
         to the Administrative Agent) the Incremental Term Loan Commitments of
         the Lenders willing to fund such Incremental Term Loan Borrowing so
         that the total Incremental Term Loan Commitments in connection with
         such Tranche equals the Incremental Term Loan Borrowing requested for
         such Tranche. The Administrative Agent shall notify each Lender of the
         acceptance and amount of its Incremental Term Loan Commitment, and such

                                       12
<PAGE>

         Lender shall thereafter execute and deliver a Lender Joinder Agreement,
         and be deemed an "Incremental Term Loan Lender" hereunder, with respect
         to such Incremental Term Loan Commitment for such Tranche requested by
         such Notice of Incremental Term Loan Borrowing. Each Incremental Term
         Loan Lender shall, before 11:00 A.M. (New York City time) on the date
         such Incremental Term Loan Borrowing is to be made, make available for
         the account of its Applicable Lending Office to the Administrative
         Agent at the Administrative Agent's Account, in same day funds, such
         Incremental Term Loan Lender's Pro Rata Share of such Incremental Term
         Loans. After the Administrative Agent's receipt of such funds and upon
         fulfillment of the applicable conditions set forth in Article 3, the
         Administrative Agent will make such funds immediately available to the
         requesting Borrower by crediting the account of such Borrower set forth
         in the Notice of Incremental Term Loan Borrowing pursuant to which such
         Incremental Term Loans are being made.

                           (iii) The final maturity date for each Incremental
         Term Loan shall be the applicable Maturity Date. The aggregate amount
         of Incremental Term Loans advanced under this Agreement shall not (x)
         have a scheduled amortization providing for principal repayments which
         exceed $50,000,000 prior to the Revolving Termination Date (exclusive
         of any optional prepayments under Section 2.5(b)) or (y) exceed the
         principal amount of $400,000,000. Amounts repaid under the Incremental
         Term Loan Commitment may not be reborrowed.

                           (iv) Each Tranche of Incremental Term Loans (i) shall
         bear interest at the Base Rate or the LIBO Rate plus such Applicable
         Margin as is set forth in the Notice of Incremental Term Loan Borrowing
         related to such Tranche, and shall otherwise be subject to the
         amortization and other terms set forth in the applicable Notice of
         Incremental Term Loan Borrowing relating to such Tranche, (ii) shall
         for all purposes be Obligations hereunder and under the Loan Documents;
         (iii) shall be represented by an Incremental Term Loan Note to the
         order of each Incremental Term Loan Lender for such Tranche, and (iv)
         shall rank pari passu with the Revolving Advances."

                  1.3 AMENDMENT TO SECTION 2.2. Section 2.2 of the Credit
Agreement, MAKING THE ADVANCES, is hereby deleted in its entirety and the
following is substituted in lieu thereof:

        "SECTION 2.2 MAKING THE ADVANCES.

                  (a) Each Revolving Advance and Incremental Term Loan shall, at
the option of the Borrowers, be made either as a Base Rate Advance or as a LIBO
Rate Advance (except for the first three Business Days after the Agreement Date
with respect to Revolving Advances, and for the first three Business Days after
the funding of Incremental Term Loans with respect to such Incremental Term
Loans, during which period such Advances, respectively, shall bear interest as a
Base Rate Advance); PROVIDED, HOWEVER, that (i) if the Borrowers fail to give

                                       13
<PAGE>

the Administrative Agent three Business Days' written notice specifying whether
a LIBO Rate Advance is to be repaid or reborrowed on the last day of the
applicable Interest Period for such LIBO Rate Advance, such LIBO Rate Advance
shall be repaid and then reborrowed as a Base Rate Advance on such date, (ii)
the Borrowers may not select a LIBO Rate Advance (A) with respect to the Swing
Line Advances, (B) with respect to an Advance, the proceeds of which are to
reimburse an Issuing Bank pursuant to Section 2.1(c) hereof, or (C) if, at the
time of such Advance, a Default or an Event of Default has occurred and is
continuing, and (iii) any Conversion of LIBO Rate Advances into Base Rate
Advances shall only be made on the last day of the Interest Period for such LIBO
Rate Advances, unless Borrowers pay to the Administrative Agent the amounts due
under Section 10.3 hereof. Each Revolving Advance shall be made, to the extent
that a Lender is so obligated under Section 2.1, on written notice from the
Borrower requesting such Revolving Advance to the Administrative Agent delivered
before 11:00 A.M. (New York City time) on, (i) in the case of a LIBO Rate
Advance, a Business Day which is at least three (3) Business Days prior to the
first day of the Interest Period for such LIBO Rate Advance, and (ii) in the
case of a Base Rate Advance, on or before the Business Day for the making of
such Advance, in each case, specifying (v) whether the Revolving Advance is a
new borrowing, or a continuation or Conversion of, a Revolving Advance under the
Revolving Commitments, (w) the Type of Revolving Advance to be made, (x) the
date on which such Revolving Advance is to be made, (y) the amount of such
Revolving Advance (which amounts shall be allocated by the Administrative Agent
among the Lenders, in the case of a Revolving Advance, on a pro rata basis in
accordance with each Revolving Lender's Pro Rata Share of such Revolving
Advance), and (z) in the case of proposed LIBO Rate Advances, the Interest
Period therefor (which Interest Period shall be the same for each Lender) (such
written notice to be substantially in the form of Exhibit C-1 attached hereto,
and being hereinafter referred to as the "NOTICE OF REVOLVING BORROWING"). Each
such Notice of Revolving Borrowing shall be sent by electronic mail or facsimile
and signed by the chief financial officer of any of the Borrowers or Vice
President of Corporate Finance or the Senior Director of Treasury or corporate
controller of Del Monte Fresh Produce Company. All or a portion of the
Incremental Term Loans of one Type may be Converted to Incremental Term Loans of
another Type or continued as Incremental Term Loans of the same Type at the end
of the Interest Period applicable thereto upon written notice from the Borrower
obligated on such Incremental Term Loan to the Administrative Agent delivered
before 11:00 A.M. (New York City time) on a Business Day which is at least three
(3) Business Days prior to the applicable Conversion or continuation date
specifying (x) the Type of Incremental Term Loan to be continued or Converted,
(y) the date on which such Incremental Term Loan is to be continued or
Converted, and (z) in the case of proposed LIBO Rate Advances, the Interest
Period therefor (which Interest Period shall be the same for each Incremental
Term Loan Lender) (such written notice to be substantially in the form of
Exhibit C-3 attached hereto, and being hereinafter referred to as the "NOTICE OF
CONTINUATION OR CONVERSION OF INCREMENTAL TERM LOAN BORROWING").

                  Each Lender making a Revolving Advance shall, before 1:00 P.M.
(New York City time) on the date such Revolving Advance is to be made, make
available for the account of its Applicable Lending Office to the Administrative
Agent at the Administrative Agent's Account, in same day funds, such Lender's
Pro Rata Share of such Revolving Advance. After the Administrative Agent's
receipt of such funds and upon fulfillment of the applicable conditions set

                                       14
<PAGE>

forth in Article 3, the Administrative Agent will make such funds available to
the requesting Borrower by crediting the account of such Borrower set forth in
the Notice of Revolving Borrowing pursuant to which the Revolving Advance is
being made. Each Lender making an Incremental Term Loan Advance shall fund such
Incremental Term Loan in accordance with Section 2.1(d)(ii).

                  (b) Each Swing Line Advance shall be made on notice, given not
later than 11:00 A.M. (New York City time) on the date of the proposed Swing
Line Advance, by any Borrower to the Swing Line Bank. Each such notice of a
proposed Swing Line borrowing (a "NOTICE OF SWING LINE BORROWING") shall be by
telephone, confirmed immediately in writing, or electronic mail or facsimile,
specifying therein the requested (i) date on which such Swing Line Advance is to
be made and (ii) amount of such Swing Line Advance. The Swing Line Bank, upon
fulfillment of the applicable conditions set forth in Article 3, will make the
amount thereof available, no later than 4:00 P.M. (New York City time) on such
Business Day, to the requesting Borrower in same day funds by crediting the
account of such Borrower set forth in the Notice of Swing Line Borrowing
pursuant to which the Swing Line Advance is being made. At any time the Swing
Line Bank makes a Swing Line Advance, each Revolving Lender (other than the
Swing Line Bank) shall be deemed, without further action by any Person, to have
purchased from the Swing Line Bank an unfunded participation in any such Swing
Line Advance in an amount equal to such Revolving Lender's Pro Rata Share of
such Swing Line Advance and shall be obligated to fund such participation as a
Revolving Advance at such time and in the manner provided below. Each such
Revolving Lender's obligation to participate in, purchase and fund such
participating interests shall be absolute and unconditional and shall not be
affected by any circumstance, including, without limitation, (A) any set-off,
counterclaim, recoupment, defense or other right which such Lender or any other
Person may have against the Swing Line Bank or any other Person for any reason
whatsoever; (B) the occurrence or continuance of a Default or an Event of
Default or the termination of the Revolving Commitments; (C) any adverse change
in the condition (financial or otherwise) of the requesting Borrower or any
other Person; (D) any breach of this Agreement by any Borrower or any other
Lender; or (E) any other circumstance, happening or event whatsoever, whether or
not similar to any of the foregoing. Each Borrower hereby consents to each such
sale and assignment. Each Revolving Lender agrees to fund its Pro Rata Share of
an outstanding Swing Line Advance on (X) the Business Day on which demand
therefor is made by the Swing Line Bank, provided that such demand is made not
later than 11:00 A.M. (New York City time) on such Business Day, or (Y) the
first Business Day next succeeding such demand if such demand is made after such
time. Upon any such assignment by the Swing Line Bank to any other Revolving
Lender of a participation in a Swing Line Advance, the Swing Line Bank
represents and warrants to such other Revolving Lender that it is the legal and
beneficial owner of such interest being assigned by it, but makes no other
representation or warranty and assumes no responsibility with respect to such
Swing Line Advance, the Loan Documents or the Borrower to which such Swing Line
Advance was made. If and to the extent that any Revolving Lender shall not have
so made the amount of such participation in such Swing Line Advance available to
the Administrative Agent, such Revolving Lender agrees to pay to the
Administrative Agent forthwith on demand such amount together with interest
thereon, for each day from the date of request by the Swing Line Bank until the

                                       15
<PAGE>

date such amount is paid to the Administrative Agent, at the Federal Funds Rate.
If such Revolving Lender shall pay to the Administrative Agent such amount for
the account of the Swing Line Bank on any Business Day, such amount so paid in
respect of principal shall constitute a Revolving Advance made by such Revolving
Lender on such Business Day for purposes of this Agreement, and the outstanding
principal amount of the Swing Line Advance made by the Swing Line Bank shall be
reduced by such amount on such Business Day.

                  (c) Each Notice of Revolving Borrowing and Notice of Swing
Line Borrowing shall be irrevocable and binding on the Borrowers requesting the
Advances covered by such Notice and such Borrower shall indemnify each Lender
against any loss or expense incurred by such Lender as a result of any failure
to fulfill on or before, as applicable, the date specified for such Advance the
applicable conditions set forth in Article 3, including, without limitation, any
loss (excluding loss of anticipated profits) or expense incurred by reason of
the liquidation or reemployment of deposits or other funds acquired by such
Lender (and the Administrative Agent in the case of Advances by the
Administrative Agent pursuant to Section 2.2(d)) to fund such Advance when such
Advance, as a result of such failure, is not made on such date.

                  (d) Unless the Administrative Agent shall have received notice
from a Revolving Lender prior to the date of any Revolving Advance, that such
Lender will not make available to the Administrative Agent such Revolving
Lender's Revolving Commitment Pro Rata Share of such Revolving Advance, the
Administrative Agent may assume that such Revolving Lender has made such portion
available to the Administrative Agent on the date of such Revolving Advance in
accordance with subsection (a) of this Section 2.2 and the Administrative Agent
may, in reliance upon such assumption, make available to the requesting Borrower
on such date a corresponding amount. If and to the extent that such Revolving
Lender shall not have so made such ratable portion available to the
Administrative Agent, such Revolving Lender and the requesting Borrower
severally agree to repay or pay to the Administrative Agent forthwith on demand
such corresponding amount and to pay interest thereon, for each day from the
date such amount is made available to the requesting Borrower until the date
such amount is repaid or paid to the Administrative Agent, at (i) in the case of
repayment or payment by the Borrower, the interest rate applicable at such time
under Section 2.6 to such Revolving Advance, and (ii) in the case of repayment
or payment by such Revolving Lender, the Federal Funds Rate. If such Revolving
Lender shall pay to the Administrative Agent such corresponding amount, such
amount so paid shall constitute such Revolving Lender's Revolving Advance for
all purposes.

                  (e) The failure of any Lender to make any Advance required to
be made by it shall not relieve any other Lender of its obligation, if any,
under this Agreement to make any Advance required to be made by it, but no
Lender shall be responsible for the failure of any other Lender to make any
Advance required to be made by such other Lender.

                  (f) Notwithstanding anything in this Agreement to the
contrary, LIBO Rate Advances may not be outstanding as part of more than 15
separate Borrowings in the aggregate. Each LIBO Rate Advance shall be in an
amount of U.S.$5,000,000 or an integral multiple of U.S.$100,000 in excess
thereof. Each Base Rate Advance (other than the initial Base Rate Advance
hereunder) shall be in an amount of U.S.$1,000,000 or an integral multiple of
U.S. $100,000 in excess thereof."

                                       16
<PAGE>

                  1.4 AMENDMENT TO SECTION 2.3. Section 2.3 of the Credit
Agreement, ISSUANCE OF AND DRAWINGS AND REIMBURSEMENT UNDER LETTERS OF CREDIT,
is hereby deleted in its entirety and the following is substituted in lieu
thereof:

                  "SECTION 2.3 ISSUANCE OF AND DRAWINGS AND REIMBURSEMENT UNDER
LETTERS OF CREDIT.

                  (a) REQUEST FOR ISSUANCE.

                  (i) Each Letter of Credit shall be issued upon notice, given
         not later than 11:00 A.M. (New York City time) on the second Business
         Day prior to the date of the proposed issuance of such Letter of
         Credit, by the requesting Borrower to the Administrative Agent. The
         Administrative Agent shall give to the Issuing Bank prompt notice
         thereof by telex, telecopier or electronic mail of such Borrower's
         request for the issuance of a Letter of Credit. Each such notice of
         issuance of a Letter of Credit (a "NOTICE OF ISSUANCE") shall be by
         telex, telecopier or electronic mail, specifying therein the requested
         (A) type of Letter of Credit, (B) date of such issuance (which shall be
         a Business Day), (C) stated principal amount of such Letter of Credit,
         (D) expiration of such Letter of Credit, (E) name and address of the
         beneficiary of such Letter of Credit and (F) form of any such Letter of
         Credit.

                  (ii) If the requested form of such Letter of Credit is
         acceptable to the Issuing Bank in its sole discretion, the Issuing Bank
         will, upon fulfillment of the applicable conditions set forth in
         Article 3, make such Letter of Credit available to the requesting
         Borrower at its office referred to in Section 9.2 or as otherwise
         agreed with such Borrower in connection with such issuance. At any time
         the Issuing Bank issues a Letter of Credit, each Revolving Lender
         (other than the Issuing Bank) shall be deemed without further action by
         any Person, to have purchased from the Issuing Bank an unfunded
         participation in such outstanding Letter of Credit in an amount equal
         to such Revolving Lender's Revolving Commitment Pro Rata Share of the
         stated principal amount of such Letter of Credit and shall be obligated
         to fund such participation in the Revolving Advance resulting from any
         drawing under such Letter of Credit at such time and in the manner
         provided below. At the request of any Revolving Lender, the Issuing
         Bank will send to such Revolving Lender a copy of any Letter of Credit
         issued by the Issuing Bank under this clause (ii).

                  (b) DRAWING AND REIMBURSEMENT. The payment by the Issuing Bank
of a draft drawn under any Letter of Credit shall constitute for all purposes of
this Agreement the making of a Revolving Advance by the Issuing Bank bearing
interest at the Base Rate in the amount of such draft. In the event of a payment
of any draft drawn under any Letter of Credit issued by the Issuing Bank, each
other Revolving Lender shall be deemed to have purchased from the Issuing Bank,
and the Issuing Bank shall sell and assign to each such other Revolving Lender,
such other Revolving Lender's Revolving Commitment Pro Rata Share of such
outstanding Revolving Advance as of the date of such purchase, by making
available for the account of its Applicable Lending Office to the Administrative
Agent for the account of the Issuing Bank, by deposit to the Administrative
Agent's Account, in same day funds, an amount equal to the portion of the

                                       17
<PAGE>

outstanding principal amount of such Revolving Advance to be purchased by such
Revolving Lender. Each Borrower hereby consents to each such sale and
assignment. Each Revolving Lender agrees to purchase its Pro Rata Share of an
outstanding Revolving Advance on (i) the Business Day on which demand therefor
is made by the Issuing Bank, PROVIDED notice of such demand is given not later
than 11:00 A.M. (New York City time) on such Business Day or (ii) the first
Business Day next succeeding such demand if notice of such demand is given after
such time. Upon any such assignment by the Issuing Bank to any other Revolving
Lender of a portion of such Revolving Advance, the Issuing Bank represents and
warrants to such other Revolving Lender that it is the legal and beneficial
owner of such interest being assigned by it, but makes no other representation
or warranty and assumes no responsibility with respect to such Revolving
Advance, the Loan Documents or the Borrower for the account of which such Letter
of Credit was issued. If and to the extent that any Revolving Lender shall not
have so made the amount of its interest in such Revolving Advance available to
the Administrative Agent, such Revolving Lender agrees to pay to the
Administrative Agent forthwith on demand such amount together with interest
thereon, for each day from the date of demand by the Issuing Bank until the date
such amount is paid to the Administrative Agent, at the Federal Funds Rate. On
the last day of each month, the Issuing Bank shall notify each Revolving Lender
of its Pro Rata Share of the Revolving Advances made by the Issuing Bank during
the preceding month pursuant to this Section 2.3(b) and shall pay to each such
Revolving Lender in respect of the amount of any funded participations of such
Revolving Lender in such Revolving Advances outstanding at any time during the
preceding month, an amount equal to such Revolving Lender's Pro Rata Share of
the interest payable on such Revolving Advances only to the extent that such
amounts shall have been paid to the Issuing Bank by the Borrowers.

                  (c) OBLIGATIONS ABSOLUTE. The payment obligations of the
Borrowers under this Agreement with respect to Letters of Credit and any
agreement or instrument relating to any Letter of Credit shall be unconditional
and irrevocable, and shall be paid strictly in accordance with the terms of this
Agreement and such other agreement or instrument under all circumstances,
including, without limitation, the following circumstances:

                  (i) any lack of validity or enforceability of this Agreement
         or any other agreement or instrument relating thereto (this Agreement
         and all of the foregoing being, collectively, the "L/C RELATED
         DOCUMENTS");

                  (ii) any change in the time, manner or place of payment of, or
         in any other term of, all or any of the obligations of any Borrower in
         respect of any L/C Related Document or any other amendment or waiver of
         or consent to or departure from all or any of the L/C Related
         Documents;

                  (iii) the existence of any claim, set-off, defense or other
         right that any Borrower may have at any time against any beneficiary or
         any transferee of a Letter of Credit (or any Persons for whom any such
         beneficiary or any such transferee may be acting), any Lender or any
         other Person, whether in connection with the transactions contemplated
         by the L/C Related Documents or any unrelated transaction;

                  (iv) any statement or any other document presented under a
         Letter of Credit proving to be forged, fraudulent, invalid or
         insufficient in any respect or any statement therein being untrue or
         inaccurate in any respect;

                                       18
<PAGE>

                  (v) payment by the Issuing Bank under a Letter of Credit
         against presentation of a draft or certificate that does not strictly
         comply with the terms of such Letter of Credit;

                  (vi) any exchange, release or non-perfection of any Collateral
         or other collateral for all or any of the obligations of any Borrower
         in respect of the L/C Related Documents; or

                  (vii) any other circumstance or happening whatsoever, whether
         or not similar to any of the foregoing, including, without limitation,
         any other circumstance that might otherwise constitute a defense
         available to, or a discharge of, any Borrower."

                  1.5 AMENDMENT TO SECTION 2.4. Section 2.4 of the Credit
Agreement, FEES, is hereby deleted in its entirety and the following is
substituted in lieu thereof:

                  "SECTION 2.4 FEES.

                  (a) ADMINISTRATIVE AGENT. The Borrowers agree to pay to the
Administrative Agent for its own account a fee separately agreed between the
Borrowers and the Administrative Agent and such other fees required by the Fee
Letter or the Supplemental Fee Letter.

                  (b) COMMITMENT FEE. The Borrowers agree to pay to the
Administrative Agent for the account of each Revolving Lender a commitment fee
on such Lender's average daily Pro Rata Share of the Unused Revolving Commitment
from the date hereof until the Revolving Termination Date at a rate per annum
equal to the Applicable Margin for the Unused Revolving Commitment in effect
from time to time, payable in arrears on the first day of the immediately
following calendar quarter during the term of such Lender's Revolving
Commitment, commencing on April 1, 2003, on the Third Amendment Date and on the
Revolving Termination Date; PROVIDED, HOWEVER, that any commitment fee accrued
with respect to the Revolving Commitment of a Defaulting Lender during the
period prior to the time such Revolving Lender became a Defaulting Lender and
unpaid at such time shall not be payable by the Borrowers so long as such
Revolving Lender shall be a Defaulting Lender except to the extent that such
commitment fee shall otherwise have been due and payable by the Borrowers prior
to such time; and PROVIDED FURTHER that no commitment fee shall accrue on the
Revolving Commitment of a Defaulting Lender so long as such Revolving Lender
shall be a Defaulting Lender.

                  (c) LETTER OF CREDIT FEES. In addition, the requesting
Borrower shall, in consideration of the issuance by the Issuing Bank of each
Letter of Credit and in addition to other charges payable by each Borrower to
any of the Lenders under this Agreement, (i) pay to the Administrative Agent for
the account of the Issuing Bank, (x) such fee as may be agreed to between Fresh
Produce and the Issuing Bank from time to time in connection with each Letter of
Credit issued hereunder, which fee shall be due and payable quarterly in arrears
on the first day of each calendar quarter during which such Letter of Credit was
outstanding (unless a different payment schedule is agreed to between Fresh

                                       19
<PAGE>

Produce and the Issuing Bank) and, if then unpaid, on the Revolving Termination
Date, and (y) the amount of all usual and customary fees and expenses of the
Issuing Bank for issuing, amending or renewing any Letter of Credit, and (ii)
pay to the Administrative Agent, for the account of the Revolving Lenders, a
Letter of Credit Commission in respect of each Letter of Credit, with such
Letter of Credit Commission to be paid by the Administrative Agent to the
Revolving Lenders in arrears on the first day of each calendar quarter in
connection with the Letters of Credit outstanding during the previous quarter,
and, to the extent that such amounts remain owing and unpaid, on the Revolving
Termination Date."

                  1.6 AMENDMENT TO SECTION 2.5. Section 2.5 of the Credit
Agreement, REDUCTIONS OF COMMITMENTS; VOLUNTARY AND MANDATORY, is hereby deleted
in its entirety and the following is substituted in lieu thereof:

                  "SECTION 2.5 REDUCTION OF REVOLVING COMMITMENTS; VOLUNTARY AND
MANDATORY PREPAYMENT.

                  (a) REDUCTION OF REVOLVING COMMITMENTS. The Borrowers shall
have the right, upon at least two Business Days' notice to the Administrative
Agent, to terminate irrevocably in whole or reduce in part the unused portion of
the Revolving Commitments on a pro rata basis (which shall include the
termination in whole or the reduction in part of the obligation of such
Revolving Lender to make Revolving Advances to the Borrowers in the amount
specified in Section 2.1(a) in the event of such termination or reduction);
PROVIDED, HOWEVER, that each partial reduction shall be in the amount of
U.S.$1,000,000 or an integral multiple thereof. The Administrative Agent shall
give notice of such reduction to the Revolving Lenders.

                  (b) OPTIONAL PREPAYMENTS. The Borrowers may, upon at least
three Business Days' notice to the Administrative Agent, prepay pro rata among
the Lenders the outstanding amount of any Advance (other than any Swing Line
Advance or Revolving Advance made by the Issuing Bank (resulting from a drawing
under a Letter of Credit) not participated to any other Lender, in which case,
such prepayment shall not be made on a pro rata basis) in whole or in part with
accrued interest to the date of such prepayment on the amount prepaid; PROVIDED,
HOWEVER, that in the event that any Lender receives payment of the principal of
any LIBO Rate Advance other than on the last day of the Interest Period relating
to such LIBO Rate Advance (whether due to prepayments made by any Borrower, or
due to acceleration of the Advances, or due to any other reason), the Borrowers
shall pay to such Lender on demand any amounts owing pursuant to Section 10.3,
PROVIDED, FURTHER, that to the extent any Borrower prepays any Incremental Term
Loan, such amount shall not be available to be reborrowed and shall be applied
on a pro rata basis to all Incremental Term Loans comprising such Tranche and to
the installments of the such Incremental Term Loans as set forth in the Notice
of Incremental Term Loan Borrowing governing such Tranche in the inverse order
of maturity; and PROVIDED, FURTHER, that each optional prepayment shall be in
the amount of at least U.S.$1,000,000.

                  (c) MANDATORY PREPAYMENTS.

                  (i) On any date on which the Total Current Exposure shall
exceed the Total Revolving Commitment, the Borrowers shall prepay Revolving
Advances in the aggregate principal amount equal to such excess. Additionally,

                                       20
<PAGE>

each Borrower shall repay the aggregate unpaid principal amount of all Revolving
Advances to it of each Lender on the Revolving Termination Date.

                  (ii) On any date on which the aggregate principal amount of
all Swing Line Advances then outstanding shall exceed the amount of the Swing
Line Sublimit, the Borrowers shall prepay Swing Line Advances in the aggregate
principal amount equal to such excess.

                  (iii) The outstanding principal balance of each Tranche of
Incremental Term Loans shall be repaid by the Borrowers on such dates and in
such amounts as is required in the Notice of Incremental Term Loan Borrowing
governing such Tranche. Any unpaid principal and interest on the Incremental
Term Loans shall be due and payable in full on the applicable Maturity Date."

                  1.7 AMENDMENT TO SECTION 2.6. Section 2.6 of the Credit
Agreement, INTEREST, is hereby deleted in its entirety and the following is
substituted in lieu thereof:

                  "SECTION 2.6 INTEREST.

                  (a) INTEREST. Each Borrower shall pay interest on the unpaid
principal amount of each Advance to it owing to each Lender from the date of
such Advance until such principal amount shall be paid in full, at the following
rates per annum:

                  (i) BASE RATE ADVANCES. During such periods as such Advance is
         a Base Rate Advance, (x) with respect to any Revolving Advance, a rate
         per annum equal at all times to the sum of (A) the Base Rate in effect
         from time to time PLUS (B) the Applicable Margin in effect with respect
         to Base Rate Advances that are Revolving Advances from time to time,
         (y) with respect to any Incremental Term Loan, a rate per annum equal
         at all times to the sum of (A) the Base Rate in effect from time to
         time PLUS (B) the Applicable Margin in effect with respect to Base Rate
         Advances comprising such Tranche of Incremental Term Loans as set forth
         in the Notice of Incremental Term Loan Borrowing governing such
         Tranche, and (z) with respect to any Swing Line Advance, a rate per
         annum to be mutually agreed between the Swing Line Bank and the
         Borrowers, payable (A) in the case of any Base Rate Advance which is a
         Revolving Advance, (1) in arrears quarterly on the first day of the
         immediately following calendar quarter during such periods, and (2) on
         the Revolving Termination Date, (B) in the case of any Base Rate
         Advance which is an Incremental Term Loan, (1) in arrears quarterly on
         the first day of the immediately following calendar quarter during such
         periods, (2) upon the payment or prepayment thereof, and (3) on the
         Maturity Date, and (C) in the case of any Base Rate Advance which is a
         Swing Line Advance, in arrears on (1) the first day of each calendar
         quarter, (2) upon the payment or prepayment thereof, and (3) on the
         Revolving Termination Date.

                  (ii) LIBO RATE ADVANCES. During such periods as such Revolving
         Advance is a LIBO Rate Advance, a rate per annum equal at all times
         during each Interest Period for such Revolving Advance to the sum of
         (x) the LIBO Rate for such Interest Period for such Advance, and (y)
         the Applicable Margin from time to time in effect for LIBO Rate
         Advances that are Revolving Advances, payable in arrears on (1) the

                                       21
<PAGE>

         last day of such Interest Period and, if such Interest Period has a
         duration of more than three months, on each day that occurs during such
         Interest Period every three months from the first day of such Interest
         Period, (2) the day such Revolving Advances shall be paid in full, and
         (3) the Revolving Termination Date. During such periods as any
         Incremental Term Loan is a LIBO Rate Advance, a rate per annum equal at
         all times during each Interest Period for such Incremental Term Loan to
         the sum of (x) the LIBO Rate for such Interest Period for such
         Incremental Term Loan, and (y) the Applicable Margin from time to time
         in effect for LIBO Rate Advances comprising such Tranche of Incremental
         Term Loans as set forth in the Notice of Incremental Term Loan
         Borrowing governing such Tranche, payable in arrears on (1) the last
         day of such Interest Period and, if such Interest Period has a duration
         of more than three months, on each day that occurs during such Interest
         Period every three months from the first day of such Interest Period,
         (2) the day such Incremental Term Loan shall be paid in full, and (3)
         the applicable Maturity Date.

                  (b) DEFAULT INTEREST. Each Borrower shall pay interest on (i)
the unpaid principal amount of each Advance owing to each Lender which is not
paid when due, from the date such amount shall be due until such amount shall be
paid in full, payable in arrears on the date such amount shall be paid in full
and on demand, at a rate per annum equal at all times to the applicable Default
Rate and (ii) to the fullest extent permitted by law, the amount of any
interest, fee or other amount payable hereunder that is not paid when due, from
the date such amount shall be due until such amount shall be paid in full and on
demand, at a rate per annum equal at all times to the applicable Default Rate."

                  1.8 AMENDMENT TO SECTION 2.10. Section 2.10 of the Credit
Agreement, REPLACEMENT OF LENDER IN EVENT OF ADVERSE CONDITION, is hereby
deleted in its entirety and the following is substituted in lieu thereof:

                  "SECTION 2.10 REPLACEMENT OF LENDER IN EVENT OF ADVERSE
CONDITION. If any Borrower becomes obligated to pay additional amounts to any
Lender pursuant to Section 10.1 or Section 10.2 or to Convert the LIBO Rate
Advances into Base Rate Advances pursuant to Section 10.1 as a result of any
condition described in such Sections which is not generally applicable to all
Lenders, or if any Lender shall become a Defaulting Lender then, unless the
Lender to which such conditions apply has theretofore taken steps to remove or
cure, and has removed or cured, the conditions creating the cause for such
obligation to pay such additional amounts or to make such Conversion, the
Borrowers may, within six months of being notified of such condition, (a)
designate an Eligible Assignee which is willing to purchase all rights and
obligations of such Lender and which is acceptable (such acceptance not to be
unreasonably withheld) to the Administrative Agent (such Eligible Assignee being
herein called a "REPLACEMENT LENDER") to purchase for cash all of the rights and
obligations of such Lender under this Agreement and all of such Lender's rights

                                       22
<PAGE>

hereunder, without recourse to or warranty (other than title) by, or expense to,
such Lender for a purchase price equal to the outstanding principal amount of
the Advances payable to such Lender plus any accrued but unpaid interest on such
Advances, expense reimbursements and indemnities in respect of that Lender's
Revolving Commitment and Incremental Term Loan Commitment under the Loan
Documents or (b) prepay in whole the aggregate outstanding amount of all
Advances owing to such Lender, including all principal, accrued but unpaid
interest thereon and all amounts owing pursuant to Section 9.4, whereupon the
Revolving Commitment of such Lender shall be irrevocably terminated in whole
(which shall include the termination in whole of the obligation of such Lender
to make Advances to the Borrowers), and the Total Revolving Commitment shall be
reduced in the amount of such Lender's Revolving Commitment, and any Incremental
Term Loan shall be repaid in the amount of all Advances of the Incremental Term
Loan owed to such Lender, as applicable. Such Lender shall consummate such sale
or the Borrowers shall make such prepayment in accordance with such terms within
a reasonable time not exceeding five Business Days from the date the Borrowers
shall have designated a Replacement Lender or the Borrowers shall have given
notice of prepayment to such Lender, and whereupon such Lender shall no longer
be a party hereto or have any obligations or rights hereunder (except rights
which, pursuant to the provisions of this Agreement, survive the termination of
this Agreement and the repayment of the Notes), and, if applicable, the
Replacement Lender shall succeed to such obligations and rights."

                  1.9 AMENDMENT TO SECTION 2.11. Section 2.11 of the Credit
Agreement, APPLICATION OF PAYMENTS, is hereby deleted in its entirety and the
following is substituted in lieu thereof:

                  "SECTION 2.11 APPLICATION OF PAYMENTS. Subsequent to the
acceleration of the Obligations under Section 7.2 hereof, payments and
prepayments with respect to the Obligations made to the Administrative Agent,
the Lenders, the Issuing Bank, the Swing Line Bank or otherwise received by the
Administrative Agent, any Lender, the Issuing Bank or the Swing Line Bank (from
realization on Collateral or otherwise, but excluding any funds held in the L/C
Cash Collateral Account which shall be applied to, or held to pay, the Letter of
Credit Amount as set forth in Section 7.3) shall be distributed in the following
order of priority: FIRST, to the reasonable costs and expenses (including
reasonable attorneys' fees and expenses), if any, incurred by the Administrative
Agent, any Lender, the Issuing Bank or the Swing Line Bank in the collection of
such amounts under this Agreement or of the Loan Documents, including, without
limitation, any costs incurred in connection with the sale or disposition of any
Collateral; SECOND, to the payment of interest then due and payable on the Swing
Line Advances; THIRD, to the payment of the principal of any Swing Line Advances
then outstanding; FOURTH, to any fees then due and payable to the Administrative
Agent under this Agreement or any other Loan Document; FIFTH, to any fees then
due and payable to the Lenders and the Issuing Banks under this Agreement;
SIXTH, to the payment of interest then due and payable on the Revolving Advances
and the Incremental Term Loan, on a pro rata basis; SEVENTH, to the payment of
principal of the Revolving Advances and principal of the Incremental Term Loan,
on a pro rata basis; EIGHTH, to the extent of any Letter of Credit Obligations
then outstanding, to the L/C Cash Collateral Account; and NINTH, to any other
Obligations not otherwise referred to in this Section, including any obligations
owed to a Foreign Exchange Bank under Foreign Exchange Contracts with a Loan
Party."

                  1.10 AMENDMENT TO SECTION 5.16. Section 5.16 of the Credit
Agreement, REPORTING REQUIREMENTS, is hereby amended by deleting clause (c) in
its entirety and substituting the following in lieu thereof:

                  "(c) ANNUAL FINANCIALS. As soon as available and in any event
no later than 90 days after the end of each fiscal year of Fresh Produce, a copy
of the audited financial statement for Fresh Produce and its Subsidiaries,

                                       23
<PAGE>

including therein a Consolidated balance sheet of Fresh Produce and its
Subsidiaries and, upon the request of the Administrative Agent, unconsolidated
balance sheets of each of the Borrowers, in each case as of the end of such
fiscal year and a Consolidated statements of income and cash flows of Fresh
Produce and its Subsidiaries and, upon the request of the Administrative Agent,
unconsolidated statements of income of the Borrowers, in the case of Fresh
Produce accompanied by an opinion acceptable to the Required Lenders of
independent public accountants of recognized international standing."

                  1.11 AMENDMENT TO SECTION 6.2. Section 6.2 of the Credit
Agreement, DEBT, is hereby deleted in its entirety and the following is
substituted in lieu thereof:

                  "SECTION 6.2 DEBT. It will not create, incur, assume or suffer
to exist, or permit any of its Subsidiaries to create, incur, assume or suffer
to exist, any Debt other than:

                  (a) Debt under the Loan Documents;

                  (b) intercompany Debt; PROVIDED, HOWEVER, that (x) such Debt
shall be unsecured and, to the extent such Debt is incurred by a Loan Party,
subordinated to the Advances and evidenced by an intercompany note in
substantially the form of Exhibit D hereto and, to the extent such Debt is owed
to a Loan Party, pledged to the Lenders pursuant to the Security Documents to
secure the Borrowers' Obligations under the Loan Documents, and (y) loans made
pursuant to this clause (b) may not be made to any Shipping Subsidiary created
after the date hereof other than in an amount not to exceed the amount equal to
the down payment for the vessel owned by such Shipping Subsidiary (such down
payment not to exceed 30% of the purchase price for such vessel);

                  (c) shipping vessel mortgages of any Shipping Subsidiary and
unsecured guarantees of Shipping Holdings of shipping vessel mortgages of any
Shipping Subsidiary;

                  (d) other direct or indirect guaranties (other than the
guaranties referred to in clause (c) above) of the Debt of other Persons not to
exceed in the aggregate U.S.$50,000,000 (or the non-U.S. currency equivalent
thereof);

                  (e) Debt under Capitalized Leases, including any Capitalized
Leases for refrigerated containers, in an aggregate principal amount not
exceeding U.S.$200,000,000 (or the non-U.S. currency equivalent thereof);

                  (f) Existing Debt secured by Real Property on the Agreement
Date, and any Debt constituting a refinancing thereof; PROVIDED that any such
refinancing shall not increase the aggregate principal amount of such existing
Debt immediately prior to such refinancing and shall not be secured by any
assets other than Real Property;

                  (g) Debt secured by Liens on acquired assets permitted by
clause (f) of the definition of "Permitted Liens" set forth in Article 1 hereof;
PROVIDED that (i) such Debt was in existence prior to the acquisition of such
assets and was not created in contemplation thereof, (ii) at the time of
acquisition of such assets, such Debt could not be prepaid without penalty or
premium, and (iii) the aggregate principal amount of such Debt shall not exceed
U.S.$50,000,000 (or the non-U.S. currency equivalent thereof) at any time;

                                       24
<PAGE>

                  (h) other secured Debt (other than Debt referred to in clauses
(e), (f) or (g) above), including any purchase money indebtedness, outstanding
in an aggregate principal amount not to exceed U.S.$50,000,000 (or the non-U.S.
currency equivalent thereof); PROVIDED that no such Debt shall be secured by any
Collateral (other than any Collateral consisting of Equipment (as defined in the
Security Agreement) acquired with purchase money financing);

                  (i) endorsement of negotiable instruments for deposit or
collection or similar transactions in the ordinary course of business;

                  (j) Hedge Agreements and Foreign Exchange Contracts permitted
under Section 6.14 hereof;

                  (k) Debt incurred in connection with or as a consequence of
the acquisition of a controlling equity interest in Saico or the subsequent
mandatory tender offer of outstanding shares of Saico, including Debt incurred
to refinance and restructure Saico's business, in an aggregate principal amount
not to exceed U.S.$30,000,000 (or the non-U.S. currency equivalent thereof); and

                  (l) other unsecured Debt on commercially reasonable terms and
conditions and aggregating on a Consolidated basis not more than U.S.$75,000,000
(or the non-U.S. currency equivalent thereof) at any one time outstanding."

                  1.12 AMENDMENT TO SECTION 6.6. Section 6.6 of the Credit
Agreement, INVESTMENTS; ACQUISITIONS, is hereby deleted in its entirety and the
following is substituted in lieu thereof:

                  "SECTION 6.6 INVESTMENTS; ACQUISITIONS. It will not, nor will
it permit any of its Subsidiaries to, make or hold any Investment in any Person,
or engage in or consummate any acquisition of all or substantially all of the
assets of a business or a business unit, or all or substantially all of the
operating assets of any Person, or assets which constitute all or substantially
all of the assets of a division or a separate or separable line of business of
any Person, other than:

                  (a) Investments in Cash Equivalents and in Hedge Agreements
and Foreign Exchange Contracts permitted hereunder;

                  (b) loans and advances to, and guaranties issued on behalf of,
officers and employees (i) in the ordinary course of business as presently
conducted in an aggregate principal amount not to exceed U.S.$1,000,000 (or the
non-U.S. currency equivalent thereof) at any time outstanding and (ii) in
respect of the provision of employee housing in the ordinary course of business
as presently conducted and consistent with past practices;

                  (c) Investments existing on the Agreement Date and described
on SCHEDULES 4.1(U) and 4.1(B) hereto;

                  (d) (x) crop-related grower advances with respect to fresh
produce growers made in the ordinary course of business and consistent with past
practices of any Borrower or any of its Subsidiaries, as the case may be and (y)

                                       25
<PAGE>

owner/operator loans or advances to Can-Am Express Inc. and RLN Leasing, Inc. in
an aggregate principal amount not to exceed U.S.$20,000,000 (or the non-U.S.
currency equivalent thereof) at any time outstanding;

                  (e) Investments in Loan Parties;

                  (f) Investments (other than intercompany loans) in
Wholly-Owned Subsidiaries of Fresh Produce that are not Loan Parties; PROVIDED
that the aggregate amount invested from the date hereof pursuant to this clause
(f) shall not exceed an amount equal to the lesser of (i) the amount equal to
10% of Tangible Net Worth at such time and (ii) the amount equal to 10% of the
total tangible and intangible assets of Fresh Produce and its Subsidiaries at
such time except where local law requires an Investment in such Wholly-Owned
Subsidiary above the amounts set forth in subclauses (i) and (ii) of this clause
(f) to prevent (x) the insolvency (as determined by such local law) of such
Wholly-Owned Subsidiary or (y) the violation of such local law;

                  (g) loans and advances to Subsidiaries of Fresh Produce to the
extent permitted by, and in accordance with, Section 6.2(b); and

                  (h) Investments and acquisitions in other assets or Persons
after the Agreement Date by Fresh Produce and its Subsidiaries; PROVIDED (i) any
Person acquired will be a Subsidiary immediately after such Investment or
acquisition, (ii) such assets are usable in, or Person is primarily engaged in,
businesses that are related, ancillary or complementary to the business of Fresh
Produce and its Subsidiaries as of the date hereof, (iii) no Default then exists
or would be caused thereby, (iv) the cash flow and operating statements of Fresh
Produce on a Consolidated basis after giving effect to such acquisition or
Investment (based on combined actual results for the twelve month period ending
on the last day of the last month for which financial statements of Fresh
Produce and such acquisition or Investment target are available) demonstrate to
the satisfaction of the Administrative Agent that Fresh Produce will be in
compliance with the financial and other covenants hereunder at the time of the
acquisition or Investment through the four fiscal quarter period thereafter, (v)
prior to making any such acquisition or Investment involving cash consideration
in excess of U.S.$100,000,000 (or the non-U.S. currency equivalent thereof),
Fresh Produce shall provide to the Administrative Agent a certificate of the
chief financial officer of Fresh Produce certifying (A) that Fresh Produce is in
compliance with the financial covenants hereof before and after giving effect to
such acquisition or Investment (based on combined actual results for the twelve
month period ending on the last day of the last month for which financial
statements of Fresh Produce and such acquisition or Investment target are
available), (B) that no Event of Default then exists or would be caused thereby
and (C) the total amount of such acquisition or Investment and the full name and
state of organization of any new Subsidiary created for the purpose of effecting
such acquisition or Investment, and (vi) to the extent the Person acquired is a
Material Subsidiary, the Administrative Agent shall have received all documents
required by Section 5.15 hereof."

                                       26
<PAGE>

                  1.13 AMENDMENT TO SECTION 6.7. Section 6.7 of the Credit
Agreement, RESTRICTED PAYMENTS; RESTRICTED PURCHASES, is hereby deleted in its
entirety and the following is substituted in lieu thereof:

                  "SECTION 6.7 RESTRICTED PAYMENTS; RESTRICTED PURCHASES. It
will not, nor will it permit any of its Subsidiaries to, declare or make any
Restricted Payment or Restricted Purchase, except that Fresh Produce may declare
and pay dividends and distributions payable in common stock (or the equivalent
thereof) and so long as no Default shall have occurred and be continuing at the
time of any action described in clause (a), (b) or (c) below or would result
therefrom, (a) Fresh Produce may declare and pay dividends and distributions
payable in cash solely out of and up to 50% of net income of Fresh Produce
(computed on a non-cumulative, Consolidated basis in accordance with GAAP) for
the fiscal year immediately preceding the year in which such dividend or
distribution is paid; PROVIDED that, Fresh Produce may declare and pay dividends
and distributions payable in cash solely out of and up to 70% of net income of
Fresh Produce (computed on a non-cumulative, Consolidated basis in accordance
with GAAP) for the fiscal year immediately preceding the year in which such
dividend or distribution is paid if after giving effect to such dividend payment
(based on actual results for the four fiscal quarters ending on the last day of
the last fiscal quarter for which financial statements of Fresh Produce are
available) Fresh Produce and its Subsidiaries on a Consolidated basis shall have
as of the end of such four fiscal quarters then ending a Leverage Ratio for such
four fiscal quarters then ending of less than 2.50 to 1.00, (b) any direct or
indirect Subsidiary of a Borrower may (i) declare and pay cash dividends to such
Borrower and (ii) declare and pay cash dividends to any other Wholly-Owned
Subsidiary of a Borrower of which it is a direct or indirect Subsidiary, (c)
Fresh Produce may repurchase its own Stock in an aggregate amount not to exceed
U.S.$100,000,000, and (d) any Subsidiary which is not a Wholly-Owned Subsidiary
may declare and pay cash dividends consistent with past practices."

                  1.14 AMENDMENT TO SECTION 6.15. Section 6.15 of the Credit
Agreement, FINANCIAL COVENANTS, is hereby amended by deleting clause (b) thereof
in the entirety and substituting the following in lieu thereof:

                  "(b) MINIMUM TANGIBLE NET WORTH. Fresh Produce and its
         Subsidiaries on a Consolidated basis shall maintain as of June 25,
         2004, and as of the end of each fiscal quarter thereafter of Fresh
         Produce, Tangible Net Worth of not less than an amount equal to the sum
         of (i) U.S. $640,554,000, plus (ii) an amount equal to 50% of
         Consolidated Net Income (to the extent positive) of Fresh Produce for
         the quarter ending on September 24, 2004, and each fiscal quarter
         thereafter on a cumulative basis."

                  1.15 AMENDMENT TO SECTION 9.1. Section 9.1 of the Credit
Agreement, AMENDMENT, ETC., is hereby deleted in its entirety and the following
is substituted in lieu thereof:

                  "SECTION 9.1 AMENDMENT, ETC. No amendment or waiver of any
provision of this Agreement, the Notes or any other Loan Document (other than a
Foreign Exchange Contract between a Foreign Exchange Bank and a Loan Party), nor
consent to any departure by any Borrower therefrom, shall in any event be

                                       27
<PAGE>

effective unless the same shall be in writing and signed by the Required Lenders
(or in connection with an amendment to any other Loan Document, by the
Administrative Agent with the consent of the Required Lenders) and, in the case
of an amendment, all Borrowers, and then such waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
given; PROVIDED that:

                  (a) no amendment, waiver or consent shall, unless in writing
and signed by all of the Lenders and, in the case of an amendment, all
Borrowers, do any of the following at any time: (1) waive any of the conditions
specified in Section 3.2, (2) change the percentage of the Total Commitment, or
the number of Lenders, that shall be required for the Lenders or any of them to
take any action hereunder, (3) amend this Section 9.1, (4) release any material
portion of the Collateral other than in accordance with the terms of the
Security Documents or any Guarantor from its obligations under its respective
Guaranty Agreement, except in connection with a sale or merger permitted
hereunder;

                  (b) no amendment, waiver or consent shall, unless in writing
and signed by the Borrowers and each Lender affected thereby, do any of the
following at any time: (1) increase the principal amount of the Revolving
Commitment or Incremental Term Loan Commitment of such Lender over the amount
then in effect or increase the Pro Rata Share of such Lender, (2) reduce or
forgive the aggregate unpaid principal amount of the Note or Revolving Advances,
Swing Line Advances or Incremental Term Loan owing to such Lender, (3) reduce
the rate of interest or fees payable hereunder to such Lender, or (4) postpone
any scheduled date fixed for any payment of principal of, or interest on, the
Notes or any fees or other amounts payable to such Lender hereunder;

                  (c) no amendment, waiver or consent shall, unless in writing
and signed by the Issuing Bank in addition to the Lenders and the Borrowers
required above to take such action, affect the rights or obligations of the
Issuing Bank under this Agreement; and provided further that no amendment,
waiver or consent shall, unless in writing and signed by the Administrative
Agent, in addition to the Lenders and the Borrowers required above to take such
action, affect the rights or duties of the Administrative Agent under this
Agreement or any Loan Document; and

                  (d) each Lender grants (x) to the Administrative Agent the
right to purchase all (but not less than all) of such Lender's Commitments and
Advances owing to it and the Notes held by it and all of its rights and
obligations hereunder and under the other Loan Documents at a price equal to the
aggregate amount of outstanding Advances owed to such Lender (together with all
accrued and unpaid interest and fees owed to such Lender), and (y) to any
Borrower the right to cause an assignment of all (but not less than all) of such
Lender's Commitments and Advances owing to it and the Notes held by it and all
of its rights and obligations hereunder and under the other Loan Documents,
which right may be exercised by the Administrative Agent or such Borrower, as
the case may be, if such Lender refuses to execute any amendment, waiver or
consent which requires the written consent of all the Lenders and to which the
Required Lenders, the Administrative Agent and such Borrower have agreed. Each
Lender agrees that if the Administrative Agent or such Borrower, as the case may
be, exercises its option hereunder, it shall promptly execute and deliver all
agreements and documentation necessary to effectuate such assignment as set
forth in Section 9.7.

Anything in this Agreement to the contrary notwithstanding, if any Lender shall
fail to fulfill its obligations to make an Advance hereunder, then, for so long

                                       28
<PAGE>

as such failure shall continue, such Lender shall (unless the Borrowers and the
Required Lenders, determined as if such Lender were not a "Lender" hereunder,
shall otherwise consent in writing) be deemed for all purposes relating to
amendments, modifications, waivers or consents under this Agreement or the Notes
(including without limitation under this Section 9.1) to have no Advances or
Commitments, shall not be treated as a "Lender" hereunder when performing the
computation of Required Lenders, and shall have no rights under this Section
9.1; PROVIDED that any action taken by the other Lenders with respect to the
matters referred to in clauses (a) or (b) of this Section 9.1 shall not be
effective as against such Lender."

                  1.16 AMENDMENT TO SECTION 9.2. Section 9.2 of the Credit
Agreement, NOTICES, ETC., is hereby amended by deleting clause (b) thereof in
its entirety and substituting the following in lieu thereof:

                  "(b) if to any Lender, at its Domestic Lending Office
specified opposite its name on SCHEDULE L-1 hereto or in the Assignment and
Acceptance or Lender Joinder Agreement pursuant to which it became a Lender;
and"

                  1.17 AMENDMENTS TO SECTION 9.7.

                  (a) Section 9.7 of the Credit Agreement, ASSIGNMENTS AND
PARTICIPATIONS, is hereby amended by deleting paragraph (i) of clause (a)
thereof in its entirety and substituting the following in lieu thereof:

                           "(i) in the case of each such assignment of a
         Revolving Commitment or an Incremental Term Loan Commitment (except in
         the case of an assignment to a Person that, immediately prior to such
         assignment, was a Lender or an assignment of all of a Lender's rights
         and obligations under this Agreement), the amount of the Revolving
         Commitment or Incremental Term Loan Commitment of the assigning Lender
         being assigned pursuant to such assignment (determined as of the date
         of the Assignment and Acceptance with respect to such assignment) shall
         in each case not be less than U.S.$2,500,000; PROVIDED, HOWEVER, that
         (x) no Revolving Lender shall have, at any time, a Revolving Commitment
         in an amount less than U.S.$2,500,000, and (y) no Incremental Term Loan
         Lender shall have, at any time, an Incremental Term Loan Commitment in
         an amount less than U.S.$2,500,000 (other than as a result of the
         prepayment of the principal amount of such Incremental Term Loans);"

                  (b) Section 9.7 of the Credit Agreement, ASSIGNMENTS AND
PARTICIPATIONS, is hereby amended by deleting clause (e) thereof in its entirety
and substituting the following in lieu thereof:

                  "(e) Each Lender may sell participations in or to all or a
portion of its rights and obligations under this Agreement (including without
limitation all or a portion of its Commitment, the Advances owing to it and the
Note held by it); PROVIDED that (i) such Lender's obligations under this
Agreement (including without limitation its Commitment) shall remain unchanged;
(ii) such Lender shall remain solely responsible to the other parties hereto for
the performance of such obligations; (iii) such Lender shall remain the holder
of any such Note for all purposes of this Agreement; (iv) the Borrowers, the
Administrative Agent and the other Lenders shall continue to deal solely and
directly with such Lender in connection with such Lender's rights and
obligations under this Agreement; and (v) no participant under any such
participation shall have any right to approve such Lender's action with respect

                                       29
<PAGE>

to any amendment or waiver of any provision of any Loan Document, or any consent
to any departure by any Loan Party therefrom, except to the extent that such
amendment, waiver or consent would reduce or forgive the aggregate unpaid
principal amount of, or reduce the rate of interest or fees on, the Notes, in
each case to the extent subject to such participation, postpone any scheduled
date fixed for any payment of principal of, or interest on, the Notes or any
fees or other amounts payable hereunder, in each case to the extent subject to
such participation, or release any material portion of the Collateral or any
Guarantor from its obligations under its respective Guaranty Agreement, except
in connection with a sale or merger permitted hereunder or in accordance with
the terms of any other Loan Document. Each such participant shall have the right
of set-off set forth in Section 9.5 hereof in respect of its participating
interest to the same extent as if the amount of its participating interest was
owed directly to it as a Lender; PROVIDED such right of set-off shall be subject
to the obligation of such participant to share with the Lenders as provided in
Section 2.8 hereof. Notwithstanding anything in this Section 9.7 to the
contrary, any Farm Credit Lender that (1) is the owner of a participation in the
minimum amount of $15,000,000, (2) is, by written notice to Fresh Produce and
the Administrative Agent ("VOTING PARTICIPANT NOTIFICATION"), designated by the
selling Lender as being entitled to be accorded the rights of a voting
participant hereunder (any Farm Credit Lender so designated being called a
"VOTING PARTICIPANT") and (3) receives the prior written consent of Fresh
Produce and the Administrative Agent to become a Voting Participant, shall be
entitled to vote for so long as such Farm Credit Lender owns such participation
and notwithstanding any subparticipation by such Farm Credit Lender (and the
voting rights of the selling Lender shall be correspondingly reduced), on a
dollar for dollar basis, as if such participant were a Lender, on any matter
requiring or allowing a Lender to provide or withhold its consent, or to
otherwise vote on any proposed action. To be effective, each Voting Participant
Notification shall, with respect to any Voting Participant, (x) state the full
name, as well as all contact information required of an assignee in an
Assignment and Acceptance and (y) state the dollar amount of the participation
purchased. The selling Lender and the Voting Participant shall notify the
Administrative Agent and Fresh Produce within 3 Business Days' of any
termination of, or reduction or increase in the amount of, such participation.
Fresh Produce and the Administrative Agent shall be entitled to conclusively
rely on information contained in notices delivered pursuant to this paragraph.
The voting rights hereunder are solely for the benefit of the Voting Participant
and shall not inure to any assignee or participant of the Voting Participant."

                  1.18 AMENDMENTS TO SECTION 10.2. Section 10.2 of the Credit
Agreement, TAXES, is hereby amended by deleting clauses (e) and (f) thereof in
their entirety and substituting the following in lieu thereof:

                  "(e) Each Lender organized under the laws of a jurisdiction
outside the United States shall, on or prior to the date of its execution and
delivery of this Agreement in the case of each initial Lender hereunder, and on
the date of the Assignment and Acceptance or Lender Joinder Agreement pursuant
to which it became a Lender in the case of each other Lender, and from time to
time thereafter if requested in writing by a Borrower or the Administrative
Agent (but only so long thereafter as such Lender remains lawfully able to do
so), provide the Administrative Agent and such Borrower with (1)(x) if such

                                       30
<PAGE>

Lender claims an exemption from withholding tax pursuant to its portfolio
interest exception, (A) a statement of the Lender, signed under penalty of
perjury, that it is not (I) a "bank" as described in Section 881(c)(3)(A) of the
Internal Revenue Code, (II) a ten percent (10%) shareholder of any Borrower
(within the meaning of Section 871(h)(3)(B) of the Internal Revenue Code), or
(III) a controlled foreign corporation related to any Borrower within the
meaning of Section 864(d)(4) of the Internal Revenue Code, and (B) a properly
completed and executed IRS Form W-8BEN, (y) if such Lender claims an exemption
from, or a reduction of, withholding tax under a United States tax treaty,
properly completed and executed IRS Form W-8BEN, or (z) if such Lender claims
that interest paid under this Agreement or the Notes is exempt from United
States withholding tax because it is effectively connected with a United States
trade or business of such Lender, a properly completed and executed copy of IRS
Form W-8ECI, and (2) such other form or forms as may be required under the
Internal Revenue Code or other laws, regulations, administrative practice or
applicable treaties of the United States as a condition to exemption from, or
reduction in the rate of, deduction or withholding of any United States
withholding tax for which any Borrower is required to pay additional amounts
under this Section 10.2. If the appropriate forms provided by a Lender at the
time such Lender first becomes a party to this Agreement indicates an
interest-withholding tax rate in excess of zero, withholding tax at such rate
shall be considered excluded from Taxes unless and until such Lender provides
the appropriate form certifying that a lesser rate applies, whereupon
withholding tax at such lesser rate only shall be considered excluded from Taxes
for periods governed by such form; PROVIDED that, if at the date of the
Assignment and Acceptance or Lender Joinder Agreement pursuant to which a Lender
assignee becomes a party to this Agreement, the Lender assignor was entitled to
payments under subsection (a) in respect of United States withholding tax with
respect to interest paid at such date by a Borrower, then, to such extent, the
term Taxes shall include (in addition to withholding taxes that may be imposed
in the future or other amounts otherwise includible in Taxes) withholding tax,
if any, applicable with respect to the Lender assignee on such date. If any form
or document referred to in this subsection (e) requires the disclosure of
information, other than information necessary to compute the tax payable and
information required on the date hereof by Internal Revenue Service form W-8BEN
or W-8ECI or other form that the applicable Borrower has indicated in writing to
the Lenders on the date hereof as being a required form to avoid or reduce
withholding tax on payments under this Agreement or on the Notes, that a Lender
reasonably considers to be confidential, such Lender shall give notice thereof
to the Borrowers and shall not be obligated to include in such form or document
such confidential information. If a Lender is a United States person, upon the
request of Fresh Produce, it agrees to complete and deliver to Fresh Produce a
statement signed by an authorized signatory of such Lender to the effect that it
is a United States person together with a duly completed and executed copy of
Internal Revenue Service form W-9 or successor form establishing that such
Lender is not subject to United States backup withholding tax.

                  (f) If any Lender claims exemption from, or reduction of,
withholding tax pursuant to subsection (e), and such Lender sells, assigns,
grants a participation in, or otherwise transfers all or part of the Obligations
of the Borrowers to such Lender, such Lender agrees to notify the Administrative
Agent of the percentage amount in which it is no longer the beneficial owner of
Obligations of the Borrowers to such Lender. To the extent of such percentage
amount, the Administrative Agent will treat such Lender's documentation as no
longer valid. If any Lender is entitled to a reduction in the applicable
withholding tax, the Administrative Agent may withhold from any interest payment

                                       31
<PAGE>

to such Lender in an amount equivalent to the applicable withholding tax after
taking into account such reduction. If the forms or other documentation required
by subsection (e) of this Section are not delivered to the Administrative Agent,
then the Administrative Agent may withhold from any interest payment to such
Lender not providing such forms or other documentation an amount equivalent to
the applicable withholding tax. If the Internal Revenue Service or any other
Governmental Authority of the United States or other jurisdiction asserts a
claim that the Administrative Agent did not properly withhold tax from amounts
paid to or for the account of any Lender (because the appropriate form was not
delivered, was not properly executed, or because such Lender failed to notify
the Administrative Agent of a change in circumstances which rendered the
exemption from, or reduction of, withholding tax ineffective, or for any other
reason) such Lender shall indemnify and hold the Administrative Agent harmless
for all amounts paid, directly or indirectly, by the Administrative Agent as tax
or otherwise, including penalties and interest, and including any taxes imposed
by any jurisdiction on the amounts payable to the Administrative Agent under
this Section, together with all costs and expenses (including attorneys fees and
expenses). The obligation of the Lenders under this subsection shall survive the
payment of all Obligations and the resignation or replacement of the
Administrative Agent."

                  1.19 AMENDMENTS TO COVER PAGE, EXHIBITS AND SCHEDULES. The
cover page of the Credit Agreement is hereby deleted in its entirety and
replaced with the cover page attached hereto. Each of Exhibit A: Form of
Assignment and Acceptance, Exhibit B: Form of Note, and Exhibit C: Form of
Notice of Borrowing is hereby deleted in its entirety and replaced with Exhibit
A: Form of Assignment and Acceptance, Exhibit B-1: Form of Revolving Loan Note,
Exhibit B-2: Form of Incremental Term Loan Note, Exhibit C-1: Form of Notice of
Revolving Borrowing, Exhibit C-2: Form of Notice of Incremental Term Loan
Borrowing and Exhibit C-3: Form of Notice of Continuation or Conversion of
Incremental Term Loan Borrowing, respectively, attached hereto. The Credit
Agreement is hereby further modified and amended by incorporating Exhibit E-1:
Form of Borrower Joinder Agreement and Exhibit E-2: Form of Lender Joinder
Agreement, attached hereto as an exhibit thereto. Each of Schedule C-1:
Commitments, Schedule G-1: Guarantors; Guaranty Agreements, Schedule P-1:
Pledgors, Schedule 4.1(b): Subsidiaries, Schedule 4.1(r): Material Contracts,
Schedule 4.1(s): Intellectual Property and Schedule 9.2: Notice Address, is
hereby deleted in its entirety and replaced with Schedule C-1: Revolving
Commitments, Schedule G-1: Guarantors; Guaranty Agreements, Schedule P-1:
Pledgors, Schedule 4.1(b): Subsidiaries, Schedule 4.1(r): Material Contracts,
Schedule 4.1(s): Intellectual Property and Schedule 9.2: Notice Address,
respectively, attached hereto.

         SECTION 2. COVENANT. Each Borrower hereby acknowledges and agrees that
the principal amount of the Rabobank Italy Letter of Credit issued under and as
defined in the Credit Agreement shall, at all times, equal or exceed the
equivalent amount (in U.S. dollars) of the principal amount of that certain
First Demand Irrevocable Bank Guaranty (the "BANK GUARANTY") issued by an
Affiliate of the Administrative Agent for the benefit of Borrowers in support of
Borrowers' binding offer to purchase certain assets. In the event the face
amount available to be drawn under the Rabobank Italy Letter of Credit shall
ever be less than the equivalent amount in U.S. dollars of the principal amount
of the Bank Guaranty, Issuing Bank hereunder is authorized, without any action
or consent on behalf of Borrowers, to amend the Rabobank Italy Letter of Credit
to so increase the principal amount thereof, not to exceed the Total Revolving

                                       32
<PAGE>

Commitment, to equal the principal amount of the Bank Guaranty. In the event the
face amount available to be drawn under the Rabobank Italy Letter of Credit
shall exceed the equivalent amount in U.S. dollars of the principal amount of
the Bank Guaranty by 5% or more (a) as of the last day of each fiscal month for
the period commencing as of the effective date of this Amendment until and
including December 31, 2004 or (b) as of the last day of each fiscal quarter
thereafter until the Revolving Termination Date, Issuing Bank may, at the
request of Borrowers and in the exercise of Issuing Bank's reasonable
discretion, amend the Rabobank Italy Letter of Credit to so decrease the
principal amount thereof to equal the principal amount of the Bank Guaranty.

         SECTION 3. REPRESENTATIONS AND WARRANTIES. Each Borrower and Guarantor
represents and warrants as follows:

                  (a) The execution, delivery and performance by such Loan Party
of this Amendment and the other transactions contemplated hereby, are within
such Loan Party's corporate powers, have been duly authorized by all necessary
corporate action, and do not (i) contravene such Loan Party's charter or bylaws;
(ii) violate any law (including, without limitation, the Securities Exchange Act
of 1934, the Racketeer Influenced and Corrupt Organizations Chapter of the
Organized Crime Control Act of 1970 and any similar statute), rule, regulation
(including, without limitation, Regulation X of the Board of Governors of the
Federal Reserve System), order, writ, judgment, injunction, decree,
determination or award; (iii) conflict with or result in the breach of, or
constitute a default under, any contract, loan agreement, indenture, mortgage,
deed of trust, lease or other instrument binding on or affecting any Loan Party,
any of its Subsidiaries or any of their properties; or (iv) except for the Liens
created under the Security Documents, result in or require the creation or
imposition of any Lien upon or with respect to any of the properties of any Loan
Party or any of its Subsidiaries.

                  (b) No authorization or approval or other action by, and no
notice to or filing with, any Governmental Authority or regulatory body or any
other third party is required for the due execution, delivery, recordation,
filing or performance by any Loan Party of this Amendment and each other Loan
Document contemplated hereby to which it is or is to be a party, or for the
consummation of the transactions contemplated hereby.

                  (c) This Amendment and each other document required to be
delivered by a Loan Party hereunder have been duly executed and delivered by
each Loan Party thereto, and constitute the legal, valid and binding obligation
of each Loan Party thereto, enforceable against such Loan Party in accordance
with their terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting creditors' rights generally.

                  (d) The representations and warranties contained in Article 4
of the Credit Agreement, and in each of the Loan Documents, are correct in all
material respects on and as of the date hereof as though made on and as of such
date, other than any such representations and warranties that, by their terms,
expressly refer to an earlier date.

                  (e) The Consolidated balance sheet of Fresh Produce and its
Subsidiaries, as at June 25, 2004, and the related Consolidated statements of
income and cash flows of Fresh Produce and its Subsidiaries, for the fiscal
quarter then ended, copies of which have been furnished to the Administrative

                                       33
<PAGE>

Agent, fairly present the Consolidated financial condition of Fresh Produce and
its Subsidiaries, as at such date and the Consolidated results of the operations
of Fresh Produce and its Subsidiaries, for the period ended on such date, all in
accordance with GAAP applied on a consistent basis, and since June 25, 2004,
nothing has occurred that has resulted in a Material Adverse Effect.

                  (f) The four year projected Consolidated balance sheets and
income statements of Fresh Produce and its Subsidiaries delivered to the
Administrative Agent pursuant to Section 4 of this Amendment were prepared in
good faith on the basis of the assumptions stated therein, which assumptions
were fair in the light of conditions existing at the time of delivery of such
projected financial statements, and represented, at the time of delivery, Fresh
Produce's reasonable estimate of its future financial performance. No
information, exhibit or report, taken in the aggregate, furnished by any Loan
Party to the Administrative Agent or any Lender in connection with the
negotiation of this Amendment or the other Loan Documents or pursuant to the
terms of the Loan Documents contained at the time such statements were made any
untrue statement of a material fact or omitted to state a material fact
necessary to make the statements made therein not misleading.

                  (g) All Material Subsidiaries of Fresh Produce (other than Del
Monte Foods Europe Ltd.) are listed on Schedule M-1 to the Credit Agreement.

                  (h) No event has occurred and is continuing that constitutes
an Event of Default or would constitute an Event of Default but for the
requirement that notice be given or time elapse or both.

         SECTION 4. CONDITIONS PRECEDENT TO EFFECTIVENESS OF THIS AMENDMENT.
This Amendment shall be effective as of the date first set forth above upon the
satisfaction of the following conditions precedent in a manner acceptable to the
Administrative Agent:

                  (a) The Lenders shall be satisfied that there shall have been
no material change since the Agreement Date with respect to, (x) the corporate
and legal structure and capitalization of each Loan Party and its Subsidiaries,
including, without limitation, the charter, bylaws or equivalent corporate
documents and any shareholders' agreement and (y) the management and operations
of the Loan Parties and their Subsidiaries.

                  (b) There shall exist no action, suit, investigation,
litigation or proceeding affecting any Loan Party or any of its Subsidiaries
pending or threatened before any court, governmental agency or arbitrator that
(i) would reasonably be likely to have a Material Adverse Effect or (ii)
purports to affect the legality, validity or enforceability of this Amendment,
any Note, the Credit Agreement (as amended hereby), any other Loan Document or
the consummation of the transactions contemplated hereby.

                  (c) The Administrative Agent shall have received a solvency
letter, in form and substance satisfactory to the Lenders, attesting that Fresh
Produce and its Subsidiaries, taken as a whole, is and will be Solvent after
giving effect to the transactions contemplated hereby, from its Chief Financial
Officer.

                  (d) Each of the Lenders shall have completed a due diligence
investigation of the New Borrowers, the New Guarantors and the Persons and
assets acquired in connection with the Share Purchase Agreement entered into on

                                       34
<PAGE>

July 15, 2004 between Cirio Del Monte N.V. and Cirio Del Monte S.p.A. on one
hand, and Fresh N.V. on the other, and their respective Subsidiaries in scope
satisfactory to each of the Lenders, and the results of such investigation shall
be acceptable to each of the Lenders in their sole discretion.

                  (e) The Administrative Agent, for the benefit of the Secured
Parties, shall have been granted by the Loan Parties a perfected first-priority
Lien in all of the Collateral owned by Del Monte Foods Europe Ltd. and Del Monte
Foods Northern Europe Ltd. and the New Borrowers (subject to the Permitted
Liens), and all filings or other action necessary to perfect such Liens on the
Pledged Stock of Del Monte Fresh Produce Brasil Ltda., Del Monte Foods Europe
Ltd. and Del Monte Foods Northern Europe Ltd. (collectively, the "NEW
GUARANTORS") and New Borrowers and such Liens on all other Collateral with
respect to which a security interest may be perfected by filing (whether
pursuant to a filing under the Uniform Commercial Code, a filing with the
Companies House or otherwise) shall have been duly completed in the case of
Security Agreements governed by English law or granted by a company incorporated
in the United Kingdom.

                  (f) The Loan Parties shall have obtained all necessary
approvals required from regulatory authorities and others, if any, in connection
with the transactions contemplated hereby (without the imposition of any
conditions that are not acceptable to the Lenders).

                  (g) On the Third Amendment Date, there shall exist (i) no
material default by any Loan Party in any Material Contract and all Material
Contracts shall be in full force and effect, nor (ii) to the knowledge of any
Loan Party, any material default in compliance by such Loan Party with any
material Applicable Laws.

                  (h) In the reasonable opinion of the Administrative Agent,
there shall have occurred no material adverse change in (i) the properties,
business, prospects, operation or condition (financial or otherwise) of Fresh
Produce and its Subsidiaries taken as a whole or (ii) loan syndication or
financial conditions generally or in the syndication, financial or business
conditions in any of the jurisdictions in which a Loan Party is organized,
including, without limitation, material adverse changes in the regulatory or
business environment.

                  (i) The Borrowers shall have paid to the Administrative Agent,
(i) on behalf of the Lenders a fee in an amount equal to (x) with respect to
each Existing Lender, (A) 0.125% MULTIPLIED BY the lesser of such Existing
Lender's Revolving Commitment immediately prior to giving effect to this
Amendment or such Existing Lender's Revolving Commitment immediately after
giving effect to this Amendment PLUS (B) 0.25% MULTIPLIED BY the amount equal
to, to the extent positive, (I) such Existing Lender's Revolving Commitment
immediately after giving effect to this Amendment MINUS (II) such Existing
Lender's Revolving Commitment immediately prior to giving effect to this
Amendment and (y) with respect to each New Lender, 0.25% MULTIPLIED BY such New
Lender's Revolving Commitment, and (ii) on its behalf, such fees as may be due
and owing under the terms of the Supplemental Fee Letter.

                  (j) The Administrative Agent shall have received each of the
following, in form and substance satisfactory to the Administrative Agent:

                                       35
<PAGE>

                  (i) this Amendment duly executed by the Borrower, the
         Guarantors, the Administrative Agent, the Issuing Bank and each of the
         Lenders;

                  (ii) the Ratification Agreement duly executed by each Existing
         Borrower and each Existing Guarantor;

                  (iii) replacement Revolving Loan Notes in the amount of the
         Revolving Commitment of each Revolving Lender as set forth on Schedule
         C-1 hereto;

                  (iv) (A) a Lender Joinder Agreement duly executed by each New
         Lender agreeing to comply with all obligations of a "Revolving Lender"
         under the Credit Agreement, and (B) a Borrower Joinder Agreement duly
         executed by each New Borrower;

                  (v) the Supplemental Fee Letter duly executed by the Borrowers
         and the Administrative Agent;

                  (vi) certified copies of the resolutions of the Board of
         Directors of each Borrower and each other Loan Party approving this
         Amendment, the Notes, each other Loan Document contemplated hereby to
         which it is or is to be a party, and of all documents evidencing other
         necessary corporate action and governmental approvals, if any, with
         respect to this Amendment, the Notes and each other Loan Document;

                  (vii) (A) a copy of the charter or memorandum and articles of
         association, as the case may be, of each Borrower (other than Fresh
         Produce and Ship Holdings) and each Guarantor (other than FDM Holdings
         Limited) and each amendment thereto, certified (as of a date reasonably
         near the Third Amendment Date) by an appropriate governmental official
         as being a true and correct copy thereof and (B) a copy of the
         memorandum and articles of association of Fresh Produce, Ship Holdings
         and FDM Holdings Limited and each amendment thereto, certified (as of a
         date reasonably near the Third Amendment Date) by Cayman Islands
         counsel to the Loan Parties as being a true and correct copy thereof;

                  (viii) a copy of a certificate of the Secretary of State of
         the state of organization of each Borrower and each Guarantor (or the
         equivalent, if any, of such certificate in any non-U.S. jurisdiction in
         which such Borrower or Guarantor is organized), dated reasonably near
         the Third Amendment Date, listing the charter of such Borrower or
         Guarantor and each amendment thereto on file in his office and
         certifying that (A) such amendments are the only amendments to such
         Person's charter on file in his office; (B) such Person has paid all
         franchise taxes to the date of such certificate; and (C) such Person
         (other than Del Monte Fresh Packaged Produce (UK) Ltd.) is duly
         incorporated and in good standing or presently subsisting under the
         laws of the jurisdiction of its organization;

                  (ix) a certificate of each Borrower and each Guarantor, signed
         on behalf of such Person by its President or a Vice President and its
         Secretary or any Assistant Secretary or by one of its directors, or by
         other appropriate officers of it, dated as of the Third Amendment Date

                                       36
<PAGE>

         (the statements made in which certificate shall be true on and as of
         the Third Amendment Date), certifying as to (A) the absence of any
         amendments to the charter of such Person since the date of the
         certificate referred to in Section 3.1(l)(iv); (B) a true and correct
         copy of the bylaws of such Person as in effect on the Third Amendment
         Date (or that there have been no amendments to such bylaws to the
         extent delivered to the Administrative Agent on the Agreement Date);
         and (C) the due incorporation and good standing (or the reasonable
         equivalent thereof, if any) of such Person as a corporation organized
         under the laws of the jurisdiction of its organization, and the absence
         of any proceeding for the dissolution or liquidation of such Person;

                  (x) a certificate of the Secretary or an Assistant Secretary
         or other appropriate officer of each Borrower and each Guarantor
         certifying the names and true signatures of the directors and officers
         of such Person authorized to sign this Amendment, the Notes and each
         other Loan Document to which it is or is to be a party and the other
         documents to be delivered hereunder and thereunder;

                  (xi) any Security Agreements and Pledge Agreements with
         respect to the Collateral owned by the New Guarantors or the New
         Borrowers or the Pledged Stock of the New Guarantors or the New
         Borrowers and any new Security Agreements and Pledge Agreements or
         amendments or supplements to any existing Security Documents as the
         Agent may require with respect to any new Collateral owned by the
         Guarantors or the Borrowers or the Pledged Stock of the Guarantors or
         the Borrowers duly executed by the parties thereto, together with (A)
         certificates, if any, representing the shares of such Pledged Stock (or
         the equivalent thereof) of each of the Subsidiaries to be pledged
         pursuant thereto, accompanied by undated stock powers (or the
         equivalent thereof) executed in blank; (B) executed financing
         statements and other similar documents in proper form for filing under
         the Uniform Commercial Code of any state of the United States and any
         similar laws of any jurisdictions outside the United States, that the
         Administrative Agent may deem necessary or desirable in order to
         perfect and protect the Liens created by such Security Documents,
         covering the Collateral described in such Security Documents; (C)
         evidence of the completion of all other recordings, registrations and
         filings of or with respect to such Security Documents that the
         Administrative Agent may deem necessary or desirable in order to
         perfect and protect the Liens created thereby; (D) evidence of the
         insurance required by the terms of such Security Agreements or under
         the Credit Agreement; and (E) evidence that all other action that the
         Administrative Agent may deem necessary or desirable in order to
         perfect and protect the Liens created by such Security Documents has
         been taken;

                  (xii) the Guaranty Agreements duly executed by each New
         Guarantor and New Borrower specified on Schedule G-1, each such
         Guaranty Agreement to be in form and substance satisfactory to the
         Administrative Agent, and guaranteeing the obligations specified in
         such Schedule;

                  (xiii) such financial, business and other information
         regarding each Loan Party as the Lenders shall have reasonably
         requested, including, without limitation, information as to possible
         contingent liabilities, tax matters, environmental matters, obligations
         under ERISA, collective bargaining agreements and other arrangements
         with employees, the budget for the fiscal year commencing on or about
         January 1, 2005, as to Fresh Produce and its Subsidiaries, and the

                                       37
<PAGE>

         projected balance sheet, income statement and cash flow statement as to
         Fresh Produce and its Subsidiaries for the four year period commencing
         on or about January 1, 2005, in each case in form and substance
         satisfactory to the Lenders; and

                  (xiv) a favorable opinion of (A) Cleary, Gottlieb, Steen &
         Hamilton, counsel to the Loan Parties, (B) general counsel for the Loan
         Parties, (C) Brazilian counsel to the Loan Parties, (D) British Virgin
         Islands counsel to the Loan Parties, (E) Costa Rican counsel to the
         Loan Parties, (F) Gibraltar counsel to the Loan Parties, (G) Guatemalan
         counsel to the Loan Parties, (H) Hong Kong counsel to the Loan Parties,
         (I) United Kingdom counsel to the Loan Parties, (J) Liberian counsel to
         the Loan Parties, (K) Netherlands counsel to the Loan Parties, (L)
         Netherlands Antilles counsel to the Loan Parties, (M) Cayman Islands
         counsel to the Loan Parties, (N) Chilean counsel to the Loan Parties,
         (O) Japanese counsel to the Loan Parties, (P) Panamanian counsel to the
         Loan Parties, and (Q) such other counsel as the Administrative Agent
         may reasonably request.

                   (k) The Administrative Agent shall have received such other
documents, instruments, and information executed and/or delivered by the
Borrowers as the Administrative Agent may reasonably request.

         SECTION 5. CONDITIONS SUBSEQUENT TO THE EFFECTIVENESS OF THIS
AMENDMENT. The obligation of the Lenders to continue to make Advances (or
otherwise extend credit under the Credit Agreement, as amended hereby) is
subject to the fulfillment, on or before the date applicable thereto, of each of
the conditions subsequent set forth below:

                  (a) Within 45 days of the Third Amendment Date (or such longer
period of time as may be acceptable to the Administrative Agent), the Borrowers
shall deliver a copy of the memorandum and articles of association of Fresh
Produce, Ship Holdings and FDM Holdings Limited and each amendment thereto,
certified (as of a date reasonably near the Third Amendment Date) by the
Registrar of Companies as being a true and correct copy thereof.

                  (b) Within 45 days of the Third Amendment Date (or such longer
period of time as may be acceptable to the Administrative Agent), the Borrowers
shall deliver a copy of a Certificate of Good Standing issued by the Companies
House for Del Monte Fresh Packaged Produce (UK) Ltd.

         SECTION 6. REFERENCE TO AND EFFECT ON THE CREDIT AGREEMENT.

                  (a) Upon the effectiveness of this Amendment as set forth in
Section 4 hereof, on and after the date hereof, each reference in the Credit
Agreement to "this Agreement", "hereunder", "hereof", "herein" or words of like
import shall mean and be a reference to the Credit Agreement as amended hereby,
and each reference in the Notes and the other Loan Documents to the Credit
Agreement shall mean and be a reference to the Credit Agreement as amended
hereby.

                  (b) Except as specifically amended above, the Credit Agreement
shall remain in full force and effect and is hereby ratified and confirmed in
all respects.

                                       38
<PAGE>

                  (c) The execution, delivery and effectiveness of this
Amendment shall not, except as expressly provided herein, operate as a waiver of
any right, power or remedy of the Lenders under the Credit Agreement, nor
constitute a waiver of any provision of the Credit Agreement.

         SECTION 7. COSTS, EXPENSES AND TAXES. The Borrowers agree, jointly and
severally, to pay on demand all costs and expenses of the Administrative Agent
in connection with the preparation, execution and delivery of this Amendment and
the other instruments and documents to be delivered hereunder (including,
without limitation, the reasonable fees and out-of-pocket expenses of counsel
for the Administrative Agent with respect thereto). In addition, the Borrowers
agree, jointly and severally, to pay any and all stamp and other taxes payable
or determined to be payable in connection with the execution and delivery of
this Amendment and the other instruments and documents to be delivered
hereunder, and agree to save the Administrative Agent and the Lenders harmless
from and against any and all liabilities with respect to or resulting from any
delay in paying or omission to pay such taxes.

         SECTION 8. AFFIRMATION OF GUARANTY. By executing this Amendment, each
Guarantor hereby acknowledges, consents and agrees that all of its obligations
and liability under its Guaranty Agreement remain in full force and effect in
relation to the Credit Agreement, as amended and modified by this Amendment, and
that the execution and delivery of this Amendment and any and all documents
executed in connection therewith shall not alter, amend, reduce or modify its
obligations and liability under its Guaranty Agreement.

         SECTION 9. EXECUTION IN COUNTERPARTS. This Amendment may be executed in
any number of counterparts, each of which when so executed and delivered shall
be deemed to be an original and all of which taken together shall constitute but
one and the same instrument. Delivery of a signature page hereto by facsimile
transmission or by e-mail transmission of an adobe file format document (also
known as a PDF file) shall be as effective as delivery of a manually executed
counterpart hereof.

         SECTION 10. GOVERNING LAW. This Amendment shall be governed by, and
construed in accordance with, the laws of the State of New York.

         SECTION 11. FINAL AGREEMENT. This Amendment represents the final
agreement between the Borrowers, the Administrative Agent and the Lenders as to
the subject matter hereof and may not be contradicted by evidence of prior,
contemporaneous or subsequent oral agreements of the parties. There are no
unwritten oral agreements between the parties. The Amendment shall constitute a
Loan Document for all purposes.

                           [SIGNATURE PAGES TO FOLLOW]

                                       39
<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be executed by their respective officers thereunto duty authorized,
as of the date first above written.

BORROWERS:                            FRESH DEL MONTE PRODUCE INC.

                                      By:
                                         ---------------------------------------
                                         Name:
                                         Title:

                                      DEL MONTE FRESH PRODUCE N.A., INC.

                                      By:
                                         ---------------------------------------
                                         Name:
                                         Title:

                                      DEL MONTE FRESH PRODUCE
                                         INTERNATIONAL, INC.

                                      By:
                                         ---------------------------------------
                                         Name:
                                         Title:

                                      FRESH DEL MONTE SHIP HOLDINGS LTD.

                                      By:
                                         ---------------------------------------
                                         Name:
                                         Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                       S-1

<PAGE>

                                        DEL MONTE FRESH PRODUCE B.V.

                                        By:
                                           ------------------------------------
                                           Name:
                                           Title:

                                        DEL MONTE FRESH PRODUCE (UK) LTD.

                                        By:
                                           ------------------------------------
                                           Name:
                                           Title:

                                        DEL MONTE FOODS INTERNATIONAL LTD.

                                        By:
                                           ------------------------------------
                                           Name:
                                           Title:

                                        DEL MONTE INTERNATIONAL INC.

                                        By:
                                           ------------------------------------
                                           Name:
                                           Title:

                                        DEL MONTE EUROPE LTD.

                                        By:
                                           ------------------------------------
                                           Name:
                                           Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                       S-2
<PAGE>

GUARANTORS:                      DEL MONTE FRESH PRODUCE COMPANY

                                 By:
                                    --------------------------------------------
                                    Name:
                                    Title:

                                 DEL MONTE FRESH PRODUCE (SOUTHWEST), INC.

                                 By:
                                    --------------------------------------------
                                    Name:
                                    Title:

                                 DEL MONTE FRESH PRODUCE (FLORIDA), INC.

                                 By:
                                    --------------------------------------------
                                    Name:
                                    Title:

                                 FRESH DEL MONTE PRODUCE (CANADA), INC.

                                 By:
                                    --------------------------------------------
                                    Name:
                                    Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                       S-3

<PAGE>

                                     DEL MONTE FRESH PRODUCE (SOUTHEAST), INC.

                                     By:
                                        ----------------------------------------
                                        Name:
                                        Title:

                                     DEL MONTE FRESH PRODUCE (WEST COAST), INC.

                                     By:
                                        ----------------------------------------
                                        Name:
                                        Title:

                                     DEL MONTE FRESH PRODUCE (TEXAS), INC.

                                     By:
                                        ----------------------------------------
                                        Name:
                                        Title:

                                     DEL MONTE FRESH PRODUCE (KANSAS CITY) INC.

                                     By:
                                        ----------------------------------------
                                        Name:
                                        Title:

                                     DEL MONTE FOODS EUROPE LTD.

                                     By:
                                        ----------------------------------------
                                        Name:
                                        Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                       S-4

<PAGE>

                                 DEL MONTE FOODS NORTHERN EUROPE LTD.

                                 By:
                                    -------------------------------------------
                                    Name:
                                    Title:

                                 DEL MONTE FRESH PACKAGED PRODUCE (UK) LTD.

                                 By:
                                    -------------------------------------------
                                    Name:
                                    Title:

                                 GLOBAL REEFER CARRIERS, LTD.

                                 By:
                                    -------------------------------------------
                                    Name:
                                    Title:

                                 FDM HOLDINGS LIMITED

                                 By:
                                    -------------------------------------------
                                    Name:
                                    Title:

                                 DEL MONTE B.V.I. LIMITED

                                 By:
                                    -------------------------------------------
                                    Name:
                                    Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                       S-5

<PAGE>

                                              CORPORATION DE DESARROLLO AGRICOLA
                                                 DEL MONTE S.A.

                                              By:
                                                 -------------------------------
                                                 Name:
                                                 Title:

                                              COMPANIA DE DESARROLLO BANANERO
                                                 DE GUATEMALA S.A.

                                              By:
                                                 -------------------------------
                                                 Name:
                                                 Title:

                                              DEL MONTE FRESH PRODUCE (ASIA-
                                                 PACIFIC) LIMITED

                                              By:
                                                 -------------------------------
                                                 Name:
                                                 Title:

                                              FRESH DEL MONTE PRODUCE N.V.

                                              By:
                                                 -------------------------------
                                                 Name:
                                                 Title:

                                              WAFER LIMITED

                                              By:
                                                 -------------------------------
                                                 Name:
                                                 Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                       S-6
<PAGE>

                                         FRESH DEL MONTE JAPAN COMPANY LTD.

                                         By:
                                            ------------------------------------
                                            Name:
                                            Title:

                                         DEL MONTE FRESH PRODUCE (CHILE) S.A.

                                         By:
                                            ------------------------------------
                                            Name:
                                            Title:

                                         DEL MONTE FRESH PRODUCE BRASIL LTDA.

                                         By:
                                            ------------------------------------
                                            Name:
                                            Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                       S-7

<PAGE>

ADMINISTRATIVE AGENT,
ISSUING BANKS AND
LENDERS:                              COOPERATIEVE CENTRALE RAIFFEISEN-
                                         BOERENLEENBANK B.A., "RABOBANK
                                         NEDERLAND", NEW YORK BRANCH, as
                                         Administrative Agent,
                                         Issuing Bank and a Lender

                                      By:
                                         ---------------------------------------
                                         Name:
                                         Title:

                                      By:
                                         ---------------------------------------
                                         Name:
                                         Title:

                                      AGFIRST FARM CREDIT BANK, as a Lender

                                      By:
                                         ---------------------------------------
                                         Name:
                                         Title:

                                      HARRIS TRUST AND SAVINGS BANK, as a Lender

                                      By:
                                         ---------------------------------------
                                         Name:
                                         Title:

                                      SUNTRUST BANK, as a Lender

                                      By:
                                         ---------------------------------------
                                         Name:
                                         Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                       S-8

<PAGE>

                                    FARM CREDIT SERVICES OF MID-AMERICA,
                                       PCA, as a Lender

                                    By:
                                       -----------------------------------------
                                       Name:
                                       Title:

                                    ING CAPITAL LLC, as a Lender

                                    By:
                                       -----------------------------------------
                                       Name:
                                       Title:

                                    U.S. AGBANK, FCB, as a Lender

                                    By:
                                       -----------------------------------------
                                       Name:
                                       Title:

                                    U.S. BANK NATIONAL ASSOCIATION, as
                                       a Lender

                                    By:
                                       -----------------------------------------
                                       Name:
                                       Title:

                                    BANK OF AMERICA, as a Lender

                                    By:
                                       -----------------------------------------
                                       Name:
                                       Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                       S-9

<PAGE>

                                COBANK, ACB, as a Lender

                                By:
                                  ----------------------------------------------
                                  Name:
                                  Title:

                                FARM CREDIT BANK OF TEXAS, as a Lender

                                By:
                                  ----------------------------------------------
                                  Name:
                                  Title:

                                FARM CREDIT WEST, PCA, as a Lender

                                By:
                                  ----------------------------------------------
                                  Name:
                                  Title:

                                GREENSTONE FARM CREDIT SERVICES ACA/FCLA,
                                   as a Lender

                                By:
                                  ----------------------------------------------
                                  Name:
                                  Title:

                                UNION BANK OF CALIFORNIA, N.A.,
                                   as a Lender

                                By:
                                  ----------------------------------------------
                                  Name:
                                  Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                      S-10
<PAGE>

                                      WACHOVIA BANK, NATIONAL ASSOCIATION,
                                         as a Lender

                                      By:
                                        ----------------------------------------
                                        Name:
                                        Title:

                                      1ST FARM CREDIT SERVICES, PCA,
                                         as a Lender

                                      By:
                                        ----------------------------------------
                                        Name:
                                        Title:

                                      JPMORGAN CHASE BANK, as a Lender

                                      By:
                                        ----------------------------------------
                                        Name:
                                        Title:

                                      NORDEA BANK FINLAND PLC, NEW YORK
                                         BRANCH, as a Lender

                                      By:
                                        ----------------------------------------
                                        Name:
                                        Title:

                                      By:
                                        ----------------------------------------
                                        Name:
                                        Title:

                                      AMERICAN AGCREDIT, FLCA, as a Lender

                                      By:
                                        ----------------------------------------
                                        Name:
                                        Title:

            THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

                                      S-11<PAGE>

                                                                    EXHIBIT 4.18

Cirio Del Monte Italia S.p.A. in Extraordinary Administration
Via Valenziani, 11
00187 Rome
Italy
and
Cirio Del Monte N.V.
Via Valenziani, 11
00187 Rome
Italy

                               Rome, July 15, 2004

Dear Sirs:

As per our previous agreements, we hereby propose to execute a preliminary
purchase agreement according to the terms and conditions set forth below:

                                    * * * * *

                     PRELIMINARY SALE AND PURCHASE AGREEMENT

                                     BETWEEN

CIRIO DEL MONTE N.V., IN EXTRAORDINARY ADMINISTRATION, with offices in Rome, Via
Valenziani, 11, a company governed by Dutch law, subject to extraordinary
administration proceedings, in the persons of the Special Commissioners, Atty.
Luigi Farenga, Dr. Mario Resca and Prof. Atty. Attilio Zimatore (hereinafter
"CDMNV");

CIRIO DEL MONTE ITALIA S.P.A., IN EXTRAORDINARY ADMINISTRATION, with offices in
Rome, Via Valenziani, 11, a company governed by Italian law, subject to
extraordinary administration proceedings, in the persons of the Special
Commissioners,

                                       1
<PAGE>

Atty. Luigi Farenga, Dr. Mario Resca and Prof. Atty. Attilio Zimatore
(hereinafter "CDMI");

(Hereinafter, CDMNV and CDMI together shall also be referred to as the
"SELLERS")

                                       AND

FRESH DEL MONTE PRODUCE N.V., a company operating under the law of the
Netherlands Antilles, with registered offices in De Ruyterkade 62, Curacao,
Netherlands Antilles, in the person of its own attorney-in-fact, Mr. Mohammad
Abu-Ghazaleh (hereinafter designated as the "BUYER").

                                    RECITALS

(A)   In consequence of the declaration of insolvency, in accordance with Art. 3
      of Legislative Decree no. 270 of 8 July 1999 and with the decree of the
      Court in Rome on 10 October 2003, the Sellers, together with Cirio Holding
      S.p.A. and Cirio Finanziaria S.p.A., were subjected to extraordinary
      administration (the "CIRIO EXTRAORDINARY ADMINISTRATION"); and with the
      decree of the Ministry of Productive Assets, issued on 14 October 2003,
      Atty. Luigi Farenga, Dr. Mario Resca and Atty. Attilio Zimatore were
      appointed Special Commissioners (hereinafter the "SPECIAL COMMISSIONERS").

(B)   The plan - as provided for by Art. 54 and subsequent articles of
      Legislative Decree no. 270 of 8 July 1999 (the "PLAN"), setting forth,
      among other things, terms and conditions for the sale of the companies
      and/or corporate investments directly or indirectly held by the Cirio
      Extraordinary Administration - was approved by the Ministry of Production
      Activities in a measure issued on 8 January 2004.

(C)   Within the framework of the Plan, the Special Commissioners decided, among
      other things, to begin proceedings to dispose of the following assets
      (collectively the "DEL MONTE CORPORATE GROUP") together in a single sale:
      (i) a business controlled by CDMI, comprising the San Felice plant and
      related assets, legal

                                       2
<PAGE>

      relationships and employees, as described in greater detail below; (ii)
      shareholdings equal to 100% of the share capital of Del Monte Foods
      International Limited, held by CDMNV; (iii) shareholdings equal to 100% of
      the share capital in Del Monte South Africa Limited, held by CDMNV; (iv)
      shareholdings equal to 44.41% of the share capital of Saico, held by
      CDMNV, together with an option to purchase an additional 5.6% of the share
      capital of Saico and warrants to subscribe for 26,650,000 shares of Saico;
      and (v) ownership of the trademarks "Just Juice," "De L'Ora," "Energen
      1-Cal," "One Cal" and related and subordinate trademarks, held by CDMNV,
      and thereby licensed to companies belonging to the Del Monte Corporate
      Group.

(D)   For that purpose, the Special Commissioners - through announcements placed
      in the national and international press on 28 November 2003 and on 6/12
      February 2004 - solicited all potentially interested parties to express
      their interest in purchasing the various assets and holdings of the Cirio
      Extraordinary Administration, including the Del Monte Corporate Group.

(E)   To those parties who, following publication of the announcement, had
      demonstrated an interest in purchasing the Del Monte Corporate Group,
      including the Buyer, upon the signing of a confidentiality agreement
      (which was signed by the Buyer on February 13, 2004), the Special
      Commissioners sent a set of rules containing the terms and conditions
      governing the participation of the bidders in the Procedures and an
      Information Memorandum containing a description of the Del Monte Corporate
      Group, and, on the basis of these documents, the Special Commissioners
      invited submission of non-binding offers for the purchase of the Del Monte
      Corporate Group.

(F)   The Buyer submitted its own non-binding offer, including a preliminary
      draft of the Industrial Plan (as defined below) and accompanied by a
      signed copy of the rules to indicate their acceptance (Appendix 1) on 7
      April 2004.

(G)   On the basis of the non-binding offers received, with the approval of the
      Ministry of Industry and having received the favorable opinion of the
      Oversight

                                       3
<PAGE>

      Committee, on 17 May 2004, the Special Commissioners selected a limited
      number of bidders (including the Buyer) that were permitted to conduct a
      due diligence of certain of the legal, fiscal, accounting, commercial and
      industrial aspects of the Del Monte Corporate Group. This was done in part
      through access to data rooms containing confidential documents and through
      subsequent provision of other documents, in part through meetings with the
      managers of the Del Monte Corporate Group, and, finally, in part through a
      visit to the production, industrial and storage sites in the Del Monte
      Corporate Group.

(H)   During the due diligence process, the Special Commissioners also
      submitted, for the consideration of the selected bidders, including the
      Buyer, an initial draft of this Agreement, which was then subjected first
      to comment by the bidders and then to negotiation with the Special
      Commissioners, as a result of which the Special Commissioners, on 18 June
      2004, distributed to all the selected bidders the present version of the
      Agreement, inviting them to submit, by 24 June 2004, a binding and
      unconditional bid for the purchase of the Del Monte Corporate Group
      pursuant to the terms and conditions set forth in the Agreement submitted
      to them (including the appendices thereto).

(I)   The binding offers were submitted by the bidders on 24 June 2004 and, on
      the basis of said offers, the Special Commissioners convened two bidders,
      including the Buyer, for clarifications of their respective offers;
      following the meeting, after having received from the Buyer, on June 30,
      2004, an amendment of its binding offer, with the approval of the Ministry
      of Production Activities and the favorable opinion of the Oversight
      Committee, the Special Commissioners on July 14, 2004 selected the binding
      offer submitted by the Buyer, as amended (Appendix 2), informed the Buyer
      of the formal acceptance of the contractual proposal contained in the
      binding offer, and signed this Agreement.

NOW, THEREFORE, with true and binding effect with respect to the agreements
contained herein, the parties have agreed as follows:

1.    DEFINITIONS

                                       4
<PAGE>

In addition to the terms defined elsewhere in this Agreement, the terms listed
below shall have, when used with an initial capital letter, the meanings
respectively attributed to them as follows:

1.1   SAN FELICE GOODWILL means the amount of minus 8,700,000 (minus eight
      million seven hundred thousand) euros, which the Buyer, in accordance with
      its own Binding Offer, recognized as goodwill for the San Felice Business,
      and which constitutes the established, fixed and unmodifiable portion of
      the San Felice Price.

1.2   SECURED CREDITOR BANKS means the following lending institutions that have
      extended loans to the Companies and the Subsidiaries, secured by liens,
      included in the Secured Financial Debt: Cooperatieve Centrale Raiffeisen
      Boerenleenbank B.A. - Rabobank, New York Life Inc., Burdale Financial
      Limited.

1.3   FINANCIAL STATEMENTS means the latest consolidated financial statement,
      approved and certified, for each of the Companies, appended to this
      Agreement respectively as "Appendix 3" the Foods Financial Statement,
      "Appendix 4" the South Africa Financial Statement and "Appendix 5" the
      Saico Financial Statement.

1.4   BUSINESS TRANSFER AGREEMENT means the Agreement in Appendix 6 by means of
      which the sale of the San Felice Business shall be effected on the Closing
      Date.

1.5   SUBSIDIARIES means, jointly, the companies listed in Appendix 7, which are
      all directly or indirectly controlled by the Companies.

1.6   PRINCIPAL SUBSIDIARIES means the following Subsidiaries:

      (a)   Subsidiaries controlled directly or indirectly by Foods:

                  -     Del Monte Foods Europe Ltd (UK 100%)
                  -     Del Monte Foods Northern Europe Ltd. (UK 100%)
                  -     Del Monte Europe Ltd (UK 100%)
                  -     Del Monte International Inc. (Panama 100%)
                  -     Del Monte Kenia Ltd (Kenya 99.70%)
                  -     Del Monte Belgium S.A. (Belgium 100%)
                  -     Del Monte Deutschland GmbH (Germany 100%)

                                       5
<PAGE>

                  -     Cirio Del Monte France SA (France 99.79%)
                  -     Del Monte Hellas SA (Greece 100%)

      (b)   Subsidiaries controlled directly or indirectly by South Africa:

                  -     Premier Pineries Pty Ltd (South Africa 100%)
                  -     Donald Cook's Pty Ltd (South Africa 100%)
                  -     Zanthus Investments Pty Ltd (South Africa 100%)
                  -     Amalgamated Fisheries Company Pty Ltd (South Africa
                        100%)
                  -     Utopia Asparagus Pty Ltd (South Africa 100%)

1.7   CLOSING DATE means the date, to be established in accordance with Art. 6.1
      hereunder, on which the Closing of this Agreement shall take place
      following satisfaction of all the conditions and fulfillment of all the
      terms set forth in Art. 8 hereunder.

1.8   SECURED FINANCIAL DEBT means the aggregate amount of debt owed by the
      Companies and Subsidiaries, in their capacity as debtors and guarantors,
      on the Closing Date, to the Secured Creditor Banks (as capital, interest,
      interest on arrears, fines, expenses, costs, commissions and accessories
      owed in accordance with the pertinent loan contracts) in the final amount,
      which CDMNV shall communicate to the Buyer by the Closing Date and which
      shall be paid, in full, to the Secured Creditor Banks on the Closing Date
      in compliance with the provisions of Art. 5.3. On June 30, 2004, the
      Secured Financial Debt amounted to 91,711,000 euro as broken down in
      Appendix 8. The Buyer expressly acknowledges and accepts that the Secured
      Financial Debt does not include all debt of a financial nature nor all
      debt secured by liens of the Companies or Subsidiaries to banks or third
      parties (including, without limitation, suppliers, employees or
      customers), but rather indicates, as is convention, only debts to Secured
      Creditor Banks.

1.9   INTRAGROUP DEBT means the net aggregate amount of debt owed by the
      Companies and Subsidiaries, on the Closing Date, to the Cirio Group in the
      final amount, including principal and accrued interest, if applicable,
      which CDMNV shall communicate to the Buyer by the Closing Date. The
      Intragroup Debt shall be

                                       6
<PAGE>

      determined by CDMNV, after consulting the Buyer, setting off, to the
      extent of each debt, the book value of the receivables held by each
      Company and each Subsidiary against the Cirio Group, with the
      understanding that set-off shall not be made wherever it is forbidden by
      laws governing matters in extraordinary administration or other bankruptcy
      proceedings and with the exception of the provisions of Art. 5.2 (b)
      hereunder. The table in Appendix 9 contains a description of the creditor
      and debtor relations, as of April 30, 2004, among the Companies and
      Subsidiaries and the Cirio Group, indicating the book value of the
      receivables on said date. The Intragroup Debt amounted to 178 million euro
      (not including any set-offs) on said same date.

1.10  CLOSING means the completion of the sales addressed in this Agreement and
      the taking of all the actions and carrying out of all the procedures that
      the Parties have agreed to take and carry out on the Closing Date in
      accordance with Art. 8 hereunder.

1.11  FOODS means Del Monte Foods International Limited, a company governed by
      English law, wholly owned by CDMNV.

1.12  BANK GUARANTEE means the first-request bank guarantee issued by
      Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank) Milan
      branch, in the interest of the Buyer and on behalf of the Sellers on the
      date of the signing of this Agreement in the form appended to this
      Agreement in Appendix 10, in guaranty of the Buyer's payment obligations
      under Art. 5, obligation to pay any indemnity for termination under Art. 6
      hereunder and, to a lesser extent subsequent to the Closing, fulfillment
      of its obligations under Art. 10, which will expire on the second
      anniversary of the Closing Date. The Bank Guarantee was granted for an
      amount equal to (euro) 234,400,001 (two hundred thirty-four million four
      hundred thousand and one).

1.13  SECURITY INTERESTS means liens, mortgages and other prejudicial interests
      that will encumber the Shareholdings or assets of the Companies or
      Subsidiaries in connection with the Secured Financial Debt on the Closing
      Date.

                                       7
<PAGE>

1.14  CIRIO GROUP means the Cirio Extraordinary Administration and the companies
      which it directly or indirectly controls, with the exception of the
      Company and the Subsidiaries. The Cirio Group does not include Del Monte
      Pacific Limited, a company listed on the Singapore stock market, in which
      the Cirio Extraordinary Administration holds a minority share.

1.15  TRADEMARKS means the trademarks listed in Appendix 11A, presently used by
      the Del Monte Corporate Group in the exercise of its activities.

1.16  NV TRADEMARKS means the trademarks highlighted in Appendix 11B, presently
      licensed by CDMNV on behalf of the Company or the Subsidiaries, the
      ownership of which shall be transferred by CDMNV to the Buyer on the
      Closing Date.

1.17  SAN FELICE NET WORTH means the algebraic sum on a date as close as
      possible to the Closing Date of the activities, assets and liabilities
      included in the San Felice Business as determined by the Auditor pursuant
      to Art. 5.2 (c) of this Agreement.

1.18  BINDING OFFER means the binding offer made by the Buyer within the
      framework of the procedure on 24 June 2004 as amended and supplemented by
      a letter dated June 30, 2004.

1.19  FOODS SHAREHOLDINGS means shares equal to 100% of the Foods share capital
      held by CDMNV.

1.20  SAICO SHAREHOLDINGS means, jointly, (i) shares equal to 44.41% of the
      Saico share capital, held by CDMNV; (ii) the right to purchase for USD one
      of an estimated additional 5.6% of the share capital of Saico; and (iii)
      warrants to subscribe an additional 26,650,000 shares of Saico.

1.21  SOUTH AFRICA SHAREHOLDINGS means shares equal to 100% of the South Africa
      held by CDMNV.

1.22  SHAREHOLDINGS means, jointly, the Foods shareholdings and the South Africa
      shareholdings.

                                       8
<PAGE>

1.23  INTERIM PERIOD means the period going from the date of the signing of this
      Agreement by the Sellers up to and including the Closing Date.

1.24  INDUSTRIAL PLAN means the business and investment plan for the San Felice
      Business, which the Buyer submitted as a integral part of its Binding
      Offer and which is attached hereto as Appendix 12.

1.25  NV TRADEMARKS PRICE means the price offered by the Buyer for the NV
      Trademarks in accordance with the Binding Offer, set at the fixed,
      unamendable amount of 10,000,000 (ten million) euros.

1.26  SHAREHOLDINGS PRICE means the price assigned to the Shareholdings and
      apportioned among them according to the stipulations of Art. 5.2 (b) and
      shall equal the difference between the Shareholdings Value and the
      Intragroup Debt, with the understanding that, as provided for in Art. 5.2
      (b) (iii), the amount of the Shareholdings Price shall be calculated by
      CDMNV and communicated to the Buyer in compliance with the provisions of
      this Agreement, five business days prior to the Closing Date.

1.27  SAICO PRICE means the price offered by the Buyer, in accordance with the
      Binding Offer, with respect to the Saico , set at the fixed, unamendable
      amount of 1 euro.

1.28  SAN FELICE PRICE means the price assigned to the San Felice Business,
      which shall be set by the Auditor on the Closing Date in accordance with
      Art. 5.2 (c), and shall be equal to the algebraic sum of the San Felice
      Goodwill plus the San Felice Net Worth.

1.29  ANTITRUST PROCEDURE means the procedures that the Buyer must carry out
      before the competent antitrust authority, or authorities, for the purposes
      of obtaining the authorizations and the clearances required for the
      purchase of the Del Monte Corporate Group or of any of its parts.

                                       9
<PAGE>

1.30  SAN FELICE BUSINESS means the business held by CDMI, composed of the San
      Felice plant and related assets, legal relationships and employees, as
      described in greater detail in Art. 3 hereunder.

1.31  AUDITOR means the auditing firm of PriceWaterhouseCoopers, charged with
      determining the San Felice Net Worth, on the Closing Date, pursuant to
      Art. 5.2 (c) hereunder and Art. 1473 of the Civil Code.

1.32  SAICO means the Siam Agro Industry Pineapple & Others PCL, a company
      governed by Thai law, quoted on the Bangkok stock exchange and currently
      placed on the register of companies in rehabilitation.

1.33  COMPANIES means, jointly, Foods and South Africa.

1.34  SOUTH AFRICA means Del Monte South Africa (Proprietary) Limited, a company
      governed by South African law, and wholly owned by CDMNV.

1.35  SHAREHOLDINGS VALUE means the amount of 123,100,000 (one hundred
      twenty-three million one hundred thousand) euros, indicated by the Buyer
      in the Binding Offer as the purchase price for the Shareholdings, on the
      assumption that the Intragroup Debt is equal to zero.

2.    PURPOSE

2.1   CDMI agrees to sell, -- subject to the terms and conditions set forth in
      this Agreement -- ,the Shareholdings, the Saico Shareholdings and the NV
      Trademarks to the Buyer who, under said terms and conditions, agrees to
      purchase the San Felice Business on the Closing Date at the San Felice
      Price.

2.2   CDMNV agrees to sell, -- subject to all the terms and conditions set forth
      in this Agreement -- ,the Shareholdings, the Saico Shareholdings and the
      NV Trademarks to the Buyer who, under said terms and conditions, agrees to
      purchase the Shareholdings and the NV Trademarks, on the Closing Date, for
      the Shareholdings Price, the Saico Price and the NV Trademarks Price,
      respectively, while simultaneously providing for the payment of balance on
      the Secured

                                       10
<PAGE>

      Financial Debt and the Intragroup Debt in accordance with the terms and
      procedures provided for in Art. 5.3 hereunder.

2.3   The Buyer shall have the right (which must be exercised via written
      communication to the Sellers prior to the Closing Date) to designate, for
      the purchase of all or a part of the aforesaid assets, one or more
      companies that it controls, with the understanding that, in said case, all
      obligations of the Buyer under this Agreement in regard to the assets
      purchased by the controlled company shall be binding upon the designated
      company, or companies, and that the Buyer shall remain, nonetheless,
      jointly and severally obligated with the designated company, or companies,
      for the purchase and for the fulfillment of all obligations stipulated in
      this Agreement.

2.4   The Buyer formally acknowledges that CDMI and CDMNV are obligated
      severally, each solely in regard to its respective buy and sell
      obligations provided for pursuant to Arts. 2.1 and 2.2, without any joint
      obligation. However, without prejudice to the foregoing, in the event that
      the Buyer fails to fulfill its obligations to one of the Sellers on the
      Closing Date, the other Seller shall be entitled to refuse completion of
      its own sale, such that the non-fulfillment of one agreement by the Buyer
      shall allow for termination of all of the agreements.

2.5   In the event that CDMI fails to fulfill its obligation to sell the San
      Felice Business or that CDMNV fails to fulfill its obligation to sell the
      Saico Shareholdings and/or the NV Trademarks, without prejudice to the
      grounds for damages that the Buyer may later claim against the defaulting
      party, the Buyer shall be bound to proceed with the Closing in regard to
      the other assets and shareholdings. However, in the event that CDMNV fails
      to fulfill its obligation to sell the Shareholdings, the Buyer shall be
      entitled to refrain from proceeding with the Closing and not to complete
      the purchase of the San Felice Business, the Saico Shareholdings and the
      NV Trademarks.

3.    SAN FELICE BUSINESS

                                       11
<PAGE>

3.1   The San Felice Business shall be transferred from CDMI to the Buyer, or to
      a company designated by the Buyer in accordance with Art. 2.3 above, in
      accordance with Art. 27, paragraph 2, letter A) of Legislative Decree no.
      270 of 1999 and with all other provisions applicable to transfers of
      businesses by companies subject to Extraordinary Administration
      proceedings, expressly included, without limitation, the provisions of
      Art. 63, paragraphs 2 and 3, of Legislative Decree no. 270 of 1999.

3.2   The transfer shall be completed on the Closing Date through execution of
      the Business Transfer Agreement and the completion of the other procedures
      set forth in Art. 8 hereunder.

3.3   On the Closing Date, the San Felice Business shall include only the
      following elements:

      (a)   Real estate.

      (b)   All tangible assets, wherever situated, comprising equipment,
            machinery, leased assets and contracts for leased property
            pertaining to the property located in San Felice.

      (c)   Recorded personal property.

      (d)   License for use of the Trademarks.

      (e)   Raw materials, semi-finished goods and stock.

      (f)   Employment contracts with respect to 100 employees presently working
            at the San Felice plant, the San Polo offices and other offices
            belonging to the Cirio Group and the seasonal workers employed to
            meet the company's needs.

      (g)   The contracts entered into through the exercise of ordinary business
            activities (such as utilities, etc.).

                                       12
<PAGE>

      (h)   All administrative and accounting documents related to the exercise
            of business activities.

      (i)   Debt for employee severance indemnities accrued starting from the
            date of the declaration of insolvency up until the Closing Date.

3.4   Appendix 13 contains a list of the items that make up the San Felice
      Business (not counting the liabilities that, in accordance with the
      provisions hereof, shall not be transferred to the Buyer) on 31 December
      2003, based on the CDMI accounting records on said date. The Buyer
      expressly acknowledges that during the Interim Period, the assets of the
      San Felice Business may undergo changes as part of the ordinary course of
      business and/or events outside the control of CDMI and that such any such
      changes shall be reflected in the appendices to the Business Transfer
      Agreement, which shall be prepared by the Auditor near the approach of the
      Closing Date. During the Interim Period, should damages occur to the
      assets of the San Felice Business that are in full or in part covered by
      the existing insurance policies, the relevant claims vis-a-vis the
      insurance company shall be transferred to the Buyer as part of the San
      Felice Business and the amount thereof shall be included in the San Felice
      Net Worth, as determined pursuant to Article 5.2(c) below. The Buyer,
      without prejudice to the provisions of Art. 6.7 hereunder, declares that
      the Buyer accepts (even at risk of violating Art. 1469 of the Civil Code)
      that the subject of the transfer shall be the San Felice Business in the
      de facto and de jure state in which it is found on the Closing Date
      without said potential changes resulting in any right to the Buyer to
      request amendments to the methodology for determining the San Felice Price
      in this Agreement or amendments to other terms and conditions of said
      Agreement or in any right to terminate said Agreement. Any claim that the
      Buyer may have in this regard is expressly, irrevocably and
      unconditionally waived by the Buyer.

3.5   Incorporated into the provisions of Art. 3.4 above, the Buyer also
      expressly acknowledges that, during the Interim Period, CDMI shall
      implement initiatives that it may deem appropriate in separating "mixed
      contracts," i.e., contracts

                                       13
<PAGE>

      between CDMI and third parties which concern both activity conducted by
      the San Felice Business, which is subject of the transfer as provided for
      in this Agreements, and the activity conducted by a CDMI business or
      businesses, which are not the subject of this Agreement. Upon request of
      the Buyer, CDMI shall duly inform the Buyer about the initiatives
      implemented, it being understood that the Buyer acknowledges that, as the
      result of such necessary activity, some of the contracts in question may
      turn out to be non-transferable with the San Felice Business or may be
      terminated or amended, and the Buyer declares that it has nothing to claim
      with respect thereto.

3.6   In accordance with the provisions of Art. 63, last paragraph, Legislative
      Decree No. 270/99, the Buyer shall have no liability for any debts of any
      kind owed by the San Felice Business prior to the Closing Date. The San
      Felice Business shall therefore be transferred free of any debt to
      suppliers, banks, employees (with the exception of that which is expressly
      provided for above), the state treasury, social security agencies and
      third parties in general.

3.7   CDMI shall request, in a timely manner, that the Minister of Production
      Activities shall proceed, within fifteen days of the Closing Date, in
      accordance with Art. 64 of Legislative Decree No. 270/99, to cancel from
      the registries any mortgage or other encumbrances, or any recorded
      attachments or preventive attachments on the transferred assets.

3.8   In compliance with the provisions of Art. 63 of Legislative Decree No.
      270/99, on the Closing Date, the 100 employees working in the San Felice
      Plant, in the San Polo offices and in other offices belonging to the Cirio
      Group shall be transferred with the San Felice Business. The employees,
      therefore, shall maintain--without any interruption--their contracts
      with the Buyer.

3.9   At the request of the Buyer, and subject to reaching of an agreement
      regarding the contractual terms and CDMI's maintenance of the necessary
      resources for such ends, CDMI will enter into a contract, on the Closing
      Date, for a period of six

                                       14
<PAGE>

      months, for the administration, on market terms, of the services provided
      by CDMI to the San Felice Business.

4.    SAICO SHAREHOLDINGS AND NV TRADEMARKS

4.1   The Saico Shareholdings shall be transferred to the Buyer, or to an entity
      designated by the Buyer pursuant to Art. 2.3 above, on the Closing Date,
      by completing all the formalities necessary for this purpose. The sale of
      the Saico Shareholdings shall be governed by all the terms and conditions
      of this Agreement, even if these are not repeated or restated in
      completion of the required formalities, with the Parties mutually
      acknowledging that completion of these formalities (even if consisting of
      the signature of transfer agreements) shall not constitute an amendment or
      novation of this Agreement unless said purpose is expressly stated in
      writing in a document signed by both the Parties.

4.2   The Saico Shareholdings shall be sold in the de facto and de jure state in
      they are found on the Closing Date. The Buyer expressly acknowledges and
      declares that the Buyer accepts that the Financial Statements shall
      provided by CDMNV as a mere identifier and that the appending of the
      Financial Statements to this agreement does not constitute, either
      explicitly or implicitly, a guarantee of the contents or of the accuracy
      of said contents by CDMNV. The sole warranties provided by CDMNV with
      respect to the sales are those listed in Art. 9.1

4.3   CDMNV acknowledges that, on the starting date of the Interim Period, the
      Companies shall control, directly or indirectly, the Subsidiaries, as
      listed in Appendix 7, and shall use, as licensees or owners, the
      Trademarks listed in Appendix 11A.

4.4   The Buyer acknowledges that it has performed all the necessary
      investigations, with proper legal counsel, regarding the laws applicable
      to buyers of the Saico Shareholdings, and, in general, to the Companies,
      Subsidiaries and Saico, and that said investigations expressly exonerate
      CDMNV from any responsibility in this regard. Without prejudice to the
      foregoing general statements, with specific

                                       15
<PAGE>

      reference to Saico, the Buyer hereby declares that it is aware of the fact
      that: (i) this Company is listed on the Bangkok Stock Exchange, currently
      recorded in the register of companies in rehabilitation, and that,
      consequently, the Buyer, after purchasing the Saico Shareholdings, will be
      required to launch a tender offer for the entire remaining capital of
      Saico; (ii) Thai law has restrictions on ownership by foreign entities of
      shares in companies which, like Saico, operate in the agricultural sector.

4.5   Ownership of the NV Trademarks shall be the subject of a transfer by CDMNV
      to the Buyer on the Closing Date by satisfying all of the formalities
      necessary for this purpose. The Buyer acknowledges and accepts that the NV
      Trademarks shall be transferred by CDMNV in their de facto and de jure
      state on the Closing Date. CDMNV guaranties exclusive ownership and
      represents and warrants that, to the best of its knowledge, no formal
      challenges have been raised by third parties regarding the validity of the
      NV Trademarks or the alleged violation of another's intellectual property
      rights. No guarantee, however, is furnished by CDMNV with respect to the
      validity of the NV Trademarks or the possible violation of the
      intellectual property rights of a third party which may result from their
      use. CDMNV's responsibility in regard to the warranties provided in
      reference to the NV Trademarks shall, in no event, exceed the amount of
      the NV Trademarks Price.

5. PRICE

5.1   With respect to the sale that is the subject of the mutual obligations
      undertaken in this Agreement, the Buyer agrees to pay, in the manner
      specified below:

      (a) for the Shareholdings, (i) the Shareholdings Price, as well as (ii) an
          amount equal to the Intragroup Debt in as much as determined by CDMNV
          pursuant to Art. 5.2 (b) hereunder, it being understood that the total
          amount payable by the Buyer under (i) and (ii) shall be equal to the
          Shareholdings Value as indicated by the Buyer in the Binding Offer,
          equal to 123,100,000 euros and (iii) an amount equal to the Secured
          Financial Debt as at the Closing Date, in

                                       16
<PAGE>

          the manner and amount determined by CDMNV pursuant to Article 5.2(a)
          below.

      (b) for the Saico Shareholdings, the Saico Price, as indicated by the
          Buyer in the Binding Offer, equal to 1 euro.

      (c) for the San Felice Business, the San Felice Price as determined by the
          Auditor pursuant to Art. 5.2 (c) hereunder, being the algebraic sum of
          the San Felice Goodwill, as indicated by the Buyer in the Binding
          Offer, plus the San Felice Net Worth;

      (d) for the NV Trademarks, the NV Trademarks Price as indicated by the
          Buyer in the Binding Offer, equal to 10,000,000 euros; and

5.2   No later than the fifth Business Day before the Closing Date:

      (a) CDMNV shall determine, applying the criteria set forth in this
          Agreement, and shall indicate to the Buyer, the amount of the Secured
          Financial Debt, specifying in detail the payments to be made for
          discharge of said Debt and the relevant payees;

      (b) CDMNV shall determine, applying the criteria set forth in this
          Agreement, and shall communicate to the Buyer, the amount of the
          Intragroup Debt, specifying individually: (i) the off settings to be
          made, subject to prior transfer of credit or debit positions; (ii) the
          amount of receivables held by the Company or Subsidiaries against the
          Cirio Group in regard to which provisions or depreciations were
          performed by the Company or Subsidiaries and in respect of which,
          therefore, the latter had to waive any rights thereto; (iii) under the
          sole circumstance in which the Value of the Shareholdings does not
          allow, once the aforesaid transactions have been carried out, the full
          discharge of the Intragroup Debt, the amount of the Cirio Group's
          receivables that must be waived, the identification by name of said
          receivables and the procedure for discharge. For purposes of the
          foregoing, CDMNV shall also inform the Buyer of the amount of the
          Shareholdings Price and of the

                                       17
<PAGE>

          assignment of said Price between the Foods Shareholdings and the South
          Africa Shareholdings; and

      (c) the Auditor--pursuant to, and for and purposes of, Art. 1473 of the
          Civil Code, with the aid of CDMI, and applying the accounting
          principals approved by the Board of Professional Accountants
          consistent with the actions of CDMI in the preparation of its
          financial statement at 31 December 2003 and with evaluation criteria
          --shall inform the Buyer and CDMI of the amount of the San Felice Net
          Worth, providing, in an appendix, a description, updated as close as
          possible to the Closing Date, of the San Felice Business; and the same
          being the sum of the San Felice Goodwill and the San Felice Net Worth
          thus established--shall indicate the San Felice Price.

          The conclusions of CDMNV and the Auditor pursuant to the preceding
          provisions shall be definitive and non-appealable for the Parties,
          except for material error.

5.3   In light of the above, the Buyer agrees to make the following payments, on
      the Closing Date, with reference to the Shareholdings under the terms and
      in the manner set forth below:

      (a) a sum equal to the Secured Financial Debt shall be paid by the Buyer,
          on behalf of the debtor Companies and Subsidiaries, directly to the
          Secured Creditor Banks, for discharge of the Secured Financial Debt by
          the respective debtors (or, only with regard to the portion of Secured
          Financial Debt owed under guarantees and subject to previous agreement
          with the relevant Secured Creditor Bank, to CDMNV, which, at the same
          time, will use the amount received to pay, in its capacity as debtor,
          such portion of the Secured Financial Debt), in compliance with the
          instructions that CDMNV shall communicate to the Buyer pursuant to
          Art. 5.2 (a) above;

      (b) a sum equal to the Intragroup Debt, within the limits set forth in
          Article 5.2(b) above, shall be paid by the Buyer to CDMNV for the
          benefit of the creditor

                                       18
<PAGE>

          companies, or directly to the latter, for discharge of the Intragroup
          Debt by the respective debtors in compliance with the instructions
          that CDMNV shall communicate to the Buyer pursuant to Art. 5.2(b)
          above;

      (c) the Shareholdings Price shall be paid by the Buyer to CDMNV via bank
          transfer to the bank account that shall be indicated by CDMNV at least
          five days before the Closing Date.

      Notwithstanding the provisions set forth above, by entering into this
      Agreement, the Buyer shall assume payment obligations with respect to the
      Intragroup Debt and the Secured Financial Debt exclusively vis-a-vis the
      Sellers and not vis-a-vis the Secured Creditors and the creditor companies
      on the Intragroup Debt.

5.4   Moreover, in regard to the Shareholdings:

      (a) the Parties shall ensure, each within the scope of its own
          responsibilities, that on the Closing Date, that the Companies and
          Subsidiaries waive right to the receivables they have against the
          Cirio Group that, prior to the Closing Date, shall have been written
          down or for which provisions shall have been made, in the amount of
          these write-downs or provisions, or as otherwise indicated by CDMNV in
          the communication mentioned in Art 5.2 (b);

      (b) on the Closing Date, the Buyer shall waive, and shall ensure that the
          Companies and Subsidiaries irrevocably and unconditionally waive, any
          right of subrogation or recourse they might eventually have against
          the Cirio Group with respect to repayment of the Secured Financial
          Debt or the Intragroup Debt.

5.5   The Saico Price shall be paid by the Buyer to CDMNV on the Closing Date,
      by bank transfer to the bank account that shall be indicated by CDMNV at
      least five days before the Closing Date.

                                       19
<PAGE>

5.6   The NV Trademarks Price shall be paid by the Buyer to CDMNV on the Closing
      Date, by bank transfer to the bank account that shall be indicated by
      CDMNV at least five days before the Closing Date.

5.7   The San Felice Price shall be paid by the Buyer to CDMI on the Closing
      Date, by bank transfer to the bank account that shall be indicated by
      CDMNV at least five days before the Closing Date.

5.8   The payments owed by the Buyer on the Closing Date are guarantied by the
      Bank Guaranty. If, on the Closing Date, the Buyer fails to fulfill its
      obligations to pay the price and/or pay the Secured Financial Debt or the
      Intragroup Debt and/or fails to ensure the completions of other documents
      and the fulfillment of other formalities, pursuant to Art.8, to be
      satisfied or carried out by Buyer hereunder (with the exception of the
      provisions of Art. 6.4), each of the Sellers, according to its competence,
      shall be entitled to enforce the Bank Guarantee, allocating the proceeds
      from said enforcement in compliance with the provisions of the aforesaid
      provisions, and do so independently of every and any exception or claim
      raised or made by the Buyer.

5.9   Both the Shareholdings Value and the Saico Price, the San Felice Price and
      the NV Trademarks Price, as determined pursuant to this Agreement, are
      fixed and cannot be amended and shall not be subject to any adjustment.
      The Buyer acknowledges that it has examined the assets targeted in the
      sale and that it has found them to be to its satisfaction and appropriate
      to the use for which they are intended.

6. CONDITIONS PRECEDENT AND DISSOLUTION RIGHTS

6.1   The Closing Date shall be the tenth business day subsequent to the date of
      fulfillment of the conditions precedent set forth in Art. 6.2 hereunder.

6.2   The obligation of the Parties to proceed with the Closing is conditional
      upon the issuance of the antitrust consents and authorizations required
      for such purposes, based on the applicable laws. The Buyer acknowledges
      that it has performed the

                                       20
<PAGE>

      required inquiry and, at the conclusion of said inquiry, it represents and
      warrants to the Sellers that there are no subjective or objective
      circumstances that might lead to the non-issuance of said consents and
      authorizations. The eventual issuance of consents or authorizations,
      conditioned upon fulfillment of directives established by the competent
      authorities, shall constitute fulfillment of the conditions precedent set
      forth in Art. 6.2, with fulfillment of the directives themselves
      continuing to be the responsibility of the Buyer.

6.3   In consideration whereof, the Buyer agrees to initiate the Antitrust
      Procedure no later than ten business days after this Agreement is signed
      by the Sellers and that it shall be exclusively responsible for carrying
      out all activities necessary to this end, notwithstanding the Sellers'
      obligation to ensure that the Companies give the Buyer all reasonable
      cooperation the Buyer needs to obtain a positive outcome in the Antitrust
      Procedure or to comply with other obligations incumbent upon the Buyer.

6.4   If

      (a)   any of the competent authorities refuse to grant authorization or
            permission for the purchase of the Del Monte Corporate Group or for
            one or more of the entities that make up the same (including the San
            Felice Business, the Saico Shareholdings and the Shareholdings); or
            if

      (b)   after 120 days from the signing date of this Agreement (or such
            longer term as the Sellers may eventually grant pursuant to Article
            6.5 below), the Buyer has not yet obtained all required
            authorizations and consents;

      the following shall occur:

      (i)   if the denied or un-issued authorization involves the Saico
            Shareholdings, the obligation of the Parties to proceed with the
            Closing shall be relieved only with respect to the Saico
            Shareholdings themselves, with all other obligations of the Parties
            pursuant to this Agreement remaining valid, and the Buyer shall be
            obliged to pay CDMNV the fixed, unamendable

                                       21
<PAGE>

            amount of 1,000,000.00 (one million) euros, which the Buyer
            recognizes as fair compensation for the costs accrued by CDMNV in
            regard to these transfer procedures and for the damage consequent to
            the need to repeat said procedures in regard to the Saico
            Shareholdings or otherwise provide for the transfer of said
            Shareholdings;

      (ii)  if the denied or un-issued authorization involves the San Felice
            Business, the obligation of the Parties to proceed with the Closing
            shall be relieved only with respect to the San Felice Business
            itself; it being understood that all other obligations of the
            Parties pursuant to this Agreement shall remain valid, and the Buyer
            shall be obliged to pay CDMI the fixed, unamendable amount of
            5,000,000.00 (five million) euros, which the Buyer recognizes as
            fair compensation for the costs accrued by CDMI in regard to these
            transfer procedures and for the damage consequent to the need to
            repeat said procedures in regard to the San Felice Business or
            otherwise provide for the transfer of said San Felice Business; and

      (iii) if the denied or unissued authorization involves the Shareholdings,
            the obligation of the Parties to proceed with the Closing shall be
            relieved with respect to all of the purchase and sales obligations
            provided for in this Agreement, and the Buyer shall be obliged to
            pay the Sellers the fixed, unamendable amount of 10,000,000.00 (ten
            million) euros, which the Buyer recognizes as fair compensation for
            the costs accrued by the Sellers in regard to these transfer
            procedures and for the damage consequent to the need to repeat said
            procedures or otherwise provide for the transfer of the Del Monte
            Corporate Group.

6.5   If, after 120 days from the signing date of this Agreement by the Sellers,
      all of the required consents and authorizations have not been issued, but
      the Antitrust Procedures are nevertheless underway, the Sellers may grant
      the Buyer a further extension, not exceeding 60 days, to complete the
      Antitrust Procedures, it being understood that, in such case, (a) if the
      required consents and authorizations have

                                       22
<PAGE>

      been issued in the meantime for purchase of the Shareholdings, the Parties
      shall proceed with the Closing as concerns the Shareholdings and the other
      items in the Del Monte Corporate Group for which the conditions set forth
      in Art. 6.2 have been fulfilled; and (b) interest at the six months
      Euribor rate increased by two percentage points, shall accrue from the
      expiration of the 120th day from the signing date of this Agreement by the
      Sellers until the Closing Date for the items in the Del Monte Corporate
      Group for which it was impossible to proceed with Closing pursuant to
      sub-paragraph (a) above.

6.6   The compensation set forth in Art. 6.4 hereunder shall be owed by the
      Buyer, in the amount indicated therein, as a consequence of the
      termination of the purchase and sale of the Del Monte Corporate Group or
      of any of its parts, irrespective of the predictability or
      unpredictability of reasons for the negative opinion (or failure of a
      positive opinion) of the antitrust authority in question. CDMNV and CDMI
      shall be entitled to demand payments under the Bank Guarantee in the event
      that the Buyer fails to pay the compensation when the prerequisites for
      such have been verified.

6.7   Occurrence of one of the following events during the Interim Period shall
      give the Buyer just cause to declare as rescinded the obligation of the
      Parties to proceed with the Closing in respect of the San Felice Business:
      (a) loss of all or of a substantial part of the San Felice plant; or (b)
      loss of all or of a substantial part of the rights due the San Felice
      Business in respect of the trademarks indicated in Appendix 13. Within
      five business days of the date on which the Buyer learned of the
      occurrence of one of these events, the Buyer shall be entitled to declare
      the obligations of the Parties to proceed with the Closing of the purchase
      and sale of the San Felice Business without penalties or charges for any
      of the Parties and without prejudice to the obligations of the Parties to
      proceed with the Closing as regards the other assets targeted in the sale
      pursuant to this Agreement.

6.8   If, during the Interim Period, the Buyer learns that one of the
      representations or warranties provided by CDMNV in regard to the
      Shareholdings pursuant to Art.

                                       23
<PAGE>

      9.1 hereunder is false and, provided that said falsity cannot be corrected
      prior to the Closing Date and that it is of such a nature as to alter
      seriously the contractual relationships provided for in this Agreement,
      the Buyer shall have the right -- which must be exercised, under penalty
      of waiver thereof, within five successive business days -- to declare the
      obligation of the Parties to proceed with the Closing rescinded without
      penalties or charges for any of the parties.

6.9   Circumstances -- which are known to the Buyer for having been represented
      within the due diligence process or which said Buyer could have known
      employing ordinary diligence -- shall not give the Buyer just cause to
      exercise the right of termination as provided in articles 6.7 and 6.8
      above.

6.10  If cause should arise for the partial termination of this Agreement
      pursuant to articles 6.4 (i) or (ii) or 6.7 above, the Sellers shall
      retain the right to terminate this Agreement in their interest, an
      exception without penalties or charges for any of the Parties and without
      prejudice to the obligation of the Buyer to pay the compensation set forth
      in articles 6.4 (i) and (ii).

7. INTERIM PERIOD

7.1   The Sellers agree to inform the Buyer, in a timely manner, of any act or
      of any extraordinary or substantially relevant event of which they may
      become aware with regard to Del Monte Corporate Group. The Sellers
      represent that they have not granted their consent to any activity carried
      out outside of the ordinary course by CDMI, the Companies and the
      Principal Subsidiaries from June 24, 2004 through the date in which the
      Interim Period begins.

7.2   Moreover, on the date of the signing of this Agreement by the Sellers,
      said Sellers shall deliver to the Buyer statements attached to this
      Agreement in Appendix 17, signed by the members of the board of directors
      of the Companies pursuant to which said members shall assume the charge of
      managing the Companies and of their respective Principal Subsidiaries for
      the Buyer.

                                       24
<PAGE>

7.3   During the Interim Period, CDMI undertakes to manage the San Felice
      Business in the ordinary course of business and that without the previous
      written consent of the Buyer, such consent not to be unreasonably withheld
      or delayed, (i) it shall not execute or terminate, before expiration, any
      agreements with a value that exceeds (euro) 500,000 with customers and
      suppliers; and (ii) it shall not hire new employees (except for seasonal
      workers hired to meet the needs of the business in line with past
      practice) nor change the terms and conditions of any employment contracts
      other than changes made in compliance with law or the applicable
      collective bargaining agreement).

7.4   Notwithstanding the obligations of the directors provided for in Appendix
      17, the Companies and the Principal Subsidiaries shall be free to complete
      the actions provided for therein, if necessary in order to: (i) fulfill
      obligations or undertakings of the Sellers pursuant to this Agreement;
      (ii) fulfill contractual undertakings or obligations of the Companies or
      Subsidiaries, taken on prior to the starting date of the Interim Period;
      (iii) comply with measures or directives of competent authorities; and
      (iv) avoid serious prejudice to the Company or Subsidiary in question,
      which, in the judgment of the Board of Directors of the Company or
      Subsidiary, would result in the failure to complete, in a timely manner,
      the action in question. In such cases, the Buyer may not claim fulfillment
      of the actions in question.

7.5   Moreover, the Buyer shall be entitled to request the appointment of a
      representative as an observer on the Board of Directors of the Companies
      without the right to vote; if said request is made, the appointment shall
      be carried out in as short a time as is reasonably possible, subsequent to
      the signing of this Agreement by the Sellers.

7.6   The Buyer expressly acknowledges that, during the Interim Period, the
      Companies and Subsidiaries shall continue to operate in order to improve
      the terms and conditions for payment to the suppliers, which are currently
      much worse than the market standard.

                                       25
<PAGE>

7.7   During the Interim Period, the Parties shall work together, as regards the
      San Felice Business, to comply fully with the union consultations provided
      for in Art. 47 of law no. 428 of 29 December 1990.

7.8   During the Interim Period, the Sellers shall do everything in their power
      to allow the Buyer to have access to the information and documents
      relating to the Del Monte Concern, in order to facilitate the acquisition
      of control by the Buyer on the Closing Date and the fulfillment of the
      disclosure obligations of the Buyer in connection with the transaction.

8. CLOSING

8.1   On the Closing Date - in presence, where required by the applicable law,
      of a Notary, selected by the Sellers, at the location or locations
      indicated by said Sellers - the Parties, each for its own part, shall
      carry out, or cause the carrying out of, the following actions, which
      shall be deemed completed simultaneously, even if they have been carried
      out in different locations and in the chronological order indicated below:

      (a) the Buyer shall repay the sum corresponding to the Secured Financial
          Debt in accordance with the procedures indicated in Art. 5.3 (a);

      (b) subject to performance of the required set-off and discharge according
          to the indications of CDMNV pursuant to Art. 5.2 (b), the Buyer shall
          repay the sum corresponding to the Intragroup Debt in compliance with
          the procedures indicated in Art. 5.3 (b);

      (c) the Buyer shall repay the Shareholdings Price in accordance with the
          procedures indicated in Art. 5.3 (c);

      (d) CDMNV shall do everything in its power to ensure that the Secured
          Creditor Banks, subsequent to the payment set forth in Art. 5.3 (a),
          issue a statement indicating that they have nothing further to claim
          against the Companies

                                       26
<PAGE>

          and/or Subsidiaries in regard to the Secured Financial Debt, and that
          they initiate the actions required for the discharge of the Security
          Interests;

      (e) the Companies and the Subsidiaries shall issue to CDMNV a statement
          (in the form set forth in Appendix 14), indicating their express
          waiver of all claims that they have against the Cirio Group, which,
          prior to the Closing Date, shall have been written down or for which
          provisions shall have been made, in the amount of these write-downs or
          provisions, except as otherwise indicated by CDMNV in the notices set
          forth in Art. 5.2 (b);

      (f) the Companies and the Subsidiaries shall issue to CDMNV a statement
          (in the form set forth in Appendix 15), indicating their express
          waiver of any right of subrogation or recourse to which they could
          possibly resort with regard to the Cirio Group, with respect to the
          payment of the Secured Financial Debt;

      (g) CDMNV shall issue, in the name and on behalf, of the other companies
          of the Cirio Group and/or ensure that, pursuant to, and for all
          intents and purposes of, Art. 1381 of the Civil Code, these latter
          companies directly issue a written statement with which they
          acknowledge that, subsequent to the payment set forth in Art. 5.3 (b),
          they shall have nothing further to claim, on any grounds or through
          any title, against the Companies or Subsidiaries;

      (h) the Companies and Subsidiaries, in turn, shall issue a written
          statement to CDMNV on behalf of all the companies of the Cirio Group,
          acknowledging that they have no claim, on any grounds or through any
          title, against the companies of the Cirio Group, with the exception of
          any remaining receivables owed to companies in extraordinary
          administration or subject to bankruptcy procedures, which may have
          remained after payment of the Intragroup Debt, in an amount to be
          indicated in said document;

      (i) CDMNV shall complete all the formalities needed to effect the transfer
          of the Shareholdings to the Buyer;

                                       27
<PAGE>

      (j) the Buyer shall pay the Saico Price in compliance with the provisions
          of Art. 5.4;

      (k) CDMNV shall complete all the formalities needed to effect the transfer
          of the Saico Shareholdings to the Buyer;

      (l) the Buyer shall pay the San Felice Price in accordance with the
          procedures set forth in Art. 5.5;

      (m) the Buyer and CDMI shall sign the Business Transfer Agreement;

      (n) CDMI and the Buyer shall sign all documents, take all actions and
          satisfy all formalities as are reasonably required or appropriate for
          the purpose of ensuring that the Buyer takes possession of the San
          Felice Business;

      (o) the Buyer shall pay the NV Trademarks Price in compliance with the
          provisions of Art. 5.6;

      (p) CDMNV shall complete all the formalities needed to transfer the NV
          Trademarks to the Buyer; and

      (q) the Sellers shall issue to the Buyer a statement, addressed to the
          bank issuing the Bank Guarantee, indicating acceptance of the
          reduction in the amount of said Guarantee to a sum equal to
          (euro)15,000,000 (fifteen million) as of the Closing Date, in
          guarantee of the obligations of the Buyer pursuant to Art. 10 of this
          Agreement.

8.2   CDMNV shall do everything within its power to ensure that the ordinary
      meetings of the companies -- having on their agendas the replacement of
      the administrative entities of the Companies with other entities composed
      of individuals indicated by the Buyer -- are convened for the Closing Date
      or for the nearest possible date subsequent to the Closing Date. The Buyer
      expressly agrees that at this time CDMNV shall give to the members of the
      boards of directors of the Companies and of Saico, or ensure that they are
      given, ample waiver for claims arising from their service as members of
      the boards of administration of the Companies or of

                                       28
<PAGE>

      Saico, its being understood that when replacement of the board members of
      the Companies or of Saico takes place after the Closing Date, the Buyer
      itself shall be bound to give ample waiver under the same terms to the
      resigning board members.

8.3   All costs, expenses and taxes associated with carrying out the Closing
      (including, without limitation, notary fees, registration fees or stamp
      taxes) shall be the responsibility of the Buyer.

9.    WARRANTIES OF THE SELLERS

9.1   CDMNV hereby represents and exclusively guaranties, in reference to the
      Closing Date:

      (a) the existence of the Shareholdings and the Saico Shareholdings and the
          freedom of said shareholdings from liens or third-party claims;

      (b) the valid title-deed and non-existence of grounds for eviction
          concerning the Shareholdings and Saico Shareholdings;

      (c) the existence of the shareholdings held directly or indirectly by the
          Companies in the Principal Subsidiaries, the absence of any liens or
          third-party claims in respect thereof, the valid title-deed and the
          non-existence of grounds for eviction concerning the shareholdings
          themselves; and

      (d) to the best of its knowledge, the accuracy of the information
          contained in Appendix 11A ("Trademarks") and the absence of disputes
          (written or claimed) by third parties regarding the use of the
          Trademarks by the Companies and Subsidiaries. No guaranty, however, is
          provided by CDMNV with respect to the validity of the Trademarks or to
          the possible violation of third-party intellectual property rights
          which may result from their use.

9.2   CDMI hereby represents and exclusively guaranties with reference to the
      Closing Date:

                                       29
<PAGE>

      (a)   the existence of the transferred business activities; and

      (b)   the non-existence of grounds for eviction with reference to the
            business activities themselves, it being understood that the
            potential declaration of invalidity of the trademarks included in
            the San Felice Business shall be considered to be grounds for
            eviction and is not the subject of a guarantee pursuant to this
            Agreement;

9.3   The preceding representations and warranties do not cover de facto or de
      jure events or circumstances, which were known to the Buyer prior to the
      presentation date of the Binding Offer or which the Buyer could have
      known, using ordinary diligence, based on the documents reviewed and
      interviews or visits made to sites during the due diligence process.

9.4   CDMNV and CDMI shall, each according to its competence, indemnify and hold
      harmless the Buyer from any damages (the "Indemnifiable Damages"), which
      the Buyer incurs as an immediate and direct consequence of the violation
      of any of CDMNV's representations and warranties pursuant to Art. 9.1 or
      of CDMI's representations and warranties pursuant to Art. 9.2 or of any
      warranties mandated by law, within the limits and under the conditions set
      forth in subsequent provisions of this Art. 9.

9.5   The warranties, as provided hereinabove by CDMNV and CDMI, shall remain
      valid and effective with respect to the formulated claims, under the terms
      and conditions provided for in Art. 9.7 and the subsequent articles of
      this Agreement until the end of the sixth month in which the Closing Date
      occurs. When said term has expired, the Buyer shall have no claim against
      the Sellers with respect to any violations of the representations and
      warranties (without prejudice to the assessment of the actual damages
      payable in respect of the violations claimed within the aforesaid term).

                                       30
<PAGE>

9.6   In assessing and settling damages actually owed by CDMNV or CDMI in regard
      to the confirmed violation of representations and warranties, the
      following criteria shall be applied:

      (a)   damages of an individual amount less than (euro) 50,000 (fifty
            thousand euros) shall not be deemed to be Indemnifiable Damages
            pursuant to this Agreement;

      (b)   Indemnifiable Damages shall de determined according to the amount of
            damage sustained by the Buyer, net of: (i) any extraordinary income
            with respect to its Balance Sheet at 31 December 2003, accruing to
            the Companies or Subsidiaries in connection with events or actions
            preceding the Closing Date; (ii) tax benefits resulting from a loss
            stemming from damages; (iii) amounts for any eventual damages, which
            the Buyer, the Company or the Subsidiary is entitled to collect from
            an insurance company or a third party in regard to a damaging event;
            and (iv) amounts of general and specific provisions existing in the
            Balance Sheet at 31 December 2003 of the Company or Subsidiary in
            question with respect to the damages reported;

      (c)   the Buyer shall not be entitled to damages until the sum of the
            Indemnifiable Damages, determined pursuant to Art. 9.6, has reached
            an amount equal to 5% of the Shareholdings Value, in the event of a
            breach of the representations and warranties set forth in Art. 9.1,
            or 5% of the San Felice Price, in the event of a breach of the
            representations and warranties set forth in Art. 9.2; and, having
            reached said threshold, which constitutes an absolute deductible,
            with CDMNV or, if applicable, CDMI, being responsible for only those
            Indemnifiable Damages exceeding said threshold;

                                       31
<PAGE>

      (d)   CDMNV and CDMI shall be responsible, respectively, for Indemnifiable
            Damages up to a maximum amount equaling 10% of the Shareholdings
            Value, in the event of a breach of the representations and
            warranties set forth in Art.. 9.1, or 10% of the San Felice Price,
            in the event of a breach of the representations and warranties set
            forth in Art. 9.2, with the exception of total or partial eviction
            of the Shareholdings, the Saico Shareholdings or assets belonging to
            the San Felice Business, in regard to which the Indemnifiable
            Damages shall be equal to the value attributed to assets figuring as
            the subject of the eviction and, therefore, the maximum limit for
            the liability of the Sellers shall be equal to the full
            Shareholdings Value, the Saico Price and the full San Felice Price
            respectively; and

      (e)   the damages shall be owed by CDMNV or, if applicable, CDMI, only
            when the Indemnifiable Damages have been definitively ascertained,
            following acknowledgment by CDMNV or CDMI (or by the Company or the
            Subsidiary with the written consent of CDMNV or CDMI) or by final
            judicial decree.

9.7   The Buyer shall be obliged, upon penalty of expiration, to report to CDMNV
      or, as applicable, to CDMI, no later than 30 days from the date it becomes
      aware (and knowledge on the part of any Company or Subsidiary shall be
      considered knowledge on the part of the Buyer for these purposes) of any
      circumstance that may constitute a violation of the representations and
      warranties made in Articles 9.1 and 9.2 or of any other warranties
      mandated by law. The report must contain a clear indication of the alleged
      violation and of the potential consequences of said violation and must be
      accompanied by all documentation appropriate to permit full understanding
      of said violation by the relevant Seller.

9.8   The relevant Seller, upon receiving the report from the Buyer, and at any
      subsequent time, shall be entitled to assume direction of the reported
      issue, assuming appropriate initiatives, including those of a legal
      nature, needed to

                                       32
<PAGE>

      contest or mitigate the violation and/or damages resulting therefrom. It
      being understood that, in said case, the Buyer -- under penalty of
      forfeiture of the right to damages from the relevant Seller with respect
      to such violation -- must fully collaborate with the Seller for said
      purpose, signing the documents that may be requested by the relevant
      Seller, and granting the Seller full access to all of the documents and
      information that the Seller will require for said purpose. It is
      understood that, in the case of actions brought or proceedings initiated
      by third parties, the Buyer may provide for the defense an additional
      counsel of its own choosing. In the event the relevant Seller has taken on
      the management of such actions or proceedings, it shall not enter into
      agreements with third parties or abandon suit without the Buyer's consent
      (which consent shall not be unreasonably withheld). It is understood that,
      should the Buyer withhold its consent, including for cause, the Sellers
      shall not be liable to pay the amounts due by the Companies or the
      Subsidiaries, upon conclusion of the relevant proceedings, in excess of
      the amounts that would have been due if Buyer's consent to such an
      agreement had not been withheld.

9.9   If the relevant Seller decides not to exercise this right, the Buyer must
      do everything necessary, with the greatest diligence, to contest the
      violation and/or mitigate the resulting damages, it being understood that,
      under penalty of forfeiture of the right to damages from the relevant
      Seller in no event shall the Buyer be able to abandon claims or
      objections, to settle legal disputes and not acquiesce to third-party
      requests or acknowledge its own responsibility without the prior written
      consent of the relevant Seller.

9.10  The Buyer acknowledges and accepts that the representations and warranties
      set forth in preceding Articles 9.1 and 9.2 are the sole warranties
      provided by CDMNV and CDMI, respectively, in regard to the sale figuring
      as the subject of this Agreement. No other guarantee of any other kind
      shall be provided by the Sellers in regard to the Shareholdings, the Saico
      Shareholdings and the San Felice Business, respectively, and, if provided
      for by law, shall be waived expressly by

                                       33
<PAGE>

      the Buyer upon signing this Agreement, with sole exception for any
      warranties mandated by law. The Buyer hereby represents that it has
      performed assessments which it deems necessary or satisfactory, either as
      part of the due diligence process or otherwise, and that it accepts the
      Shareholdings, Saico Shareholdings and San Felice Business in their de
      facto and de jure state on the Closing Date, and hereby confirms that it
      considered the absence of further warranties in regard to the aforesaid
      when formulating its offer price with respect to each of these assets.

9.11  The representations and warranties set forth in Arts. 9.1 and 9.2, and any
      warranties mandated by law, are exclusive and are substitutes for every
      other right or remedy due to the Buyer pursuant to law; the Buyer,
      therefore, expressly waives the right to initiate any eventual action or
      claim other than a request for damages pursuant to, and within the limits
      of, the provisions of preceding Arts. 9.1 and 9.2.

10. BUYER'S OBLIGATIONS

10.1  By signing this Agreement, the Buyer agrees to the following with respect
      to the San Felice Business:

      (a) to carry on the business of the San Felice Business for at least two
          years from the date the Business Transfer Agreement is signed, as
          provided in the Industrial Plan; and

      (b) to guarantee to the employees who will be transferred upon signing of
          the Business Transfer Agreement the same contractual conditions they
          had at the time of the transfer, and to maintain the employment of all
          of the employees transferred (unless any individual employee decides
          voluntarily to resign) for a period not less than two years from the
          signing of the Business Transfer Agreement. During this period, the
          Buyer shall not make use of the mobility procedures nor of collective
          dismissal procedures. This obligation shall not

                                       34
<PAGE>

          extend to dismissal of individuals for just cause or justified
          subjective reasons (including the refusal of employees located in the
          San Polo offices or in other offices other than the San Felice
          facility to accept transfer to another office). These obligations are
          assumed in addition pursuant to Art. 1411 of the Civil Code for
          individual employees.

10.2  Moreover, the Buyer agrees to cooperate as necessary to assist the Cirio
      Extraordinary Administration in meeting its accounting and tax
      responsibilities, and at the request of Commissioners, to maintain records
      of the procedure, without any burden being placed on CDMI, for a period of
      two years from the signing of the Business Transfer Agreement.

10.3  If the Buyer should violate any of the obligations to continue business,
      to fulfill the investment obligations as set forth in the Industrial Plan
      or to maintain employment levels as set forth in Art. 10.1, the Buyer
      shall be subject to:

      (a)   a fine equal to 40% of the San Felice Price in the event of a
            violation of the obligation set forth in Art. 10.1 (a); and

      (b)   a fine equal to (euro) 50,000 for each employee dismissed or
            transferred in violation of the obligation set forth in Art. 10.1
            (b), without any prejudice to any rights of the employee with
            respect to the Buyer, including the right to have any dismissal in
            violation of the aforesaid obligation declared non-effectual or
            illegitimate.

      The above fines shall be owed to CDMI, with the exception of major damages
      and without prejudice to the rights and remedies due to CDMI under law,
      including the right to terminate the San Felice Business transfer contract
      on the grounds of nonperformance by the Buyer.

10.4  In regard to the Shareholdings and the Saico Shareholdings, the Buyer also
      agrees:

                                       35
<PAGE>

      (a)   to indemnify and hold harmless CDMNV and each company of the Cirio
            Group from any damages arising from the revoking of any of the
            waivers to receivables or grounds for subrogation in regard to the
            Cirio Group, effected by any of the Companies and Subsidiaries
            pursuant to this Agreement following the Company's declaration of
            insolvency or that of the Subsidiary in question; and

      (b)   to ensure that all the companies of the Cirio Group, which have
            provided guaranties, in any form, regarding the obligations of the
            Companies or Subsidiaries, are free from said obligations within
            three months of the Closing Date. An indicative list of these
            obligations is contained in Appendix 16 of this Agreement.

10.5  The failure of the Buyer to meet the obligations pursuant to preceding
      Articles 10.1 and 10.4 and the payment of the fines set forth in preceding
      Art. 10.3 or of the damages set forth in Art. 10.4 are guarantied by the
      Bank Guarantee.

11. NOTICES

11.1  Any communication or notification made with respect to this Agreement must
      be in writing via registered mail, possibly preceded by a telegram or
      telex or fax, and shall take effect from the date the registered letter is
      sent.

11.2  Communications or notices must be sent to the following addresses:

      if to the Buyer:
      Fresh Del Monte Produce N.V.
      241 Sevilla Avenue
      Coral Gables, FL, 33134
      U.S.A.
      Fax no. 001 305 448 6647
      To the attention of: General Counsel

      with copy to:

                                       36
<PAGE>

      Cleary, Gottlieb, Steen & Hamilton
      Fax no.: +39 06 692 00 665
      Attn.: Giuseppe Scassellati Sforzolini

      if to CDMI and/or CDMNV:
      Amministrazione Straordinaria Cirio [Cirio Special Administration]
      Via Valenziani, 11
      Rome, Italy
      Attn: Commissari Straordinari [Special Administrators]
      Fax no. +39 06 42 011 888

      with copy to:
      Grimaldi e Associati
      Fax no. +39 02 3035 5200
      Attn: Roberto Cappelli

11.3  It is expressly understood that notices sent to the Sellers at the address
      above shall be considered delivered only upon actual delivery to that
      address. Any changes in these addresses shall be enforceable only if
      communicated in writing by the Party concerned.

12. MISCELLANEOUS PROVISIONS

12.1  This Agreement may be amended only by a written document signed by all the
      Parties.

12.2  This Agreement is binding on and accrues to the benefit of the Parties and
      their respective successors for any reason or of any kind, who shall be
      bound by the entire contents of this Agreement.

12.3  In the event that one or more of the clauses in this Agreement is declared
      null, this defect shall not affect the validity of the remaining clauses,
      nor of the Agreement in its entirety.

                                       37
<PAGE>

12.4  This Agreement with its appendices shall constitute the entire agreement
      made between the Parties and shall replace any prior understanding,
      agreement or accord, whether oral or written, between them.

12.5  Any failure by any Party, even if repeated, to take action with respect to
      noncompliance or delays in compliance by another Party shall not be
      interpreted as a tacit abrogation of the relevant provisions nor as a
      waiver of its rights by the non-defaulting Party.

12.6  The titles of the separate articles of this Agreement were inserted for
      reference purposes only and have no interpretive value with respect
      thereto.

13. GOVERNING LAW AND JURISDICTION

13.1  This Agreement and all the contracts contemplated hereby or arising
      herefrom shall be governed by Italian law.

13.2  Any dispute as to the validity, interpretation or execution of this
      Agreement and all the contracts contemplated hereby or arising herefrom,
      including any executive contracts, shall be subject to the exclusive
      jurisdiction of the Court of Rome.

                                    * * * * *

If you agree with the foregoing, please confirm your acceptance of the same by
delivering this letter to us duly initialed on each page.

                                           Very truly yours,

                                           FRESH DEL MONTE PRODUCE N.V.

                                           -----------
                                           Mohammad Abu-Ghazaleh
                                           Chairman and Chief Executive Officer

                                       38
<PAGE>

                                              ATTACHMENTS

1. Signed copy of the set of rules governing the process
2. Buyer's binding offer
3. Foods Financial Statements
4. South Africa Financial Statements
5. Saico Financial Statements
6. San Felice Business Transfer Agreement
7. List of Subsidiaries
8. Secured Financial Debt as of April 30, 2004
9. Intragroup Debt as of April 30, 2004
10. Bank Guarantee
11A. Trademarks
11B. NV Trademarks
12. Industrial Plan
13. Description of San Felice Business
14. Release of written-down claims
15. Waiver of rights of subrogation or recourse
16. List of guarantees to be cancelled
17. Undertakings of the members of the Companies' board of directors

                                       39

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