Lancaster Colony Sells Automotive Floor Mat Operations

COLUMBUS, Ohio, June 29 -- Lancaster Colony Corporation announced today that, as part of its strategic alternative review of nonfood operations, it has sold substantially all the operating assets of its automotive accessory operations located in Coshocton, Ohio and LaGrange, Georgia. The primary products manufactured at these locations are automotive floor mats, which generated net sales of approximately $76 million for the fiscal year ended June 30, 2006.

John B. Gerlach, Jr., chairman and CEO of Lancaster Colony, said, "This divestiture is consistent with our objective to concentrate our future effort and investment in the food sector."

This cash transaction with a private buyer is expected to result in a pretax loss of approximately $24 - $26 million, pending customary post-closing adjustments. The Coshocton real estate will be retained by Lancaster Colony.