New World Pasta In the News

In The News

New World Pasta Company Announces New Executives (HARRISBURG, PA – June 3, 2003)
New World Pasta Company, a leading marketer and supplier of dry pasta, today announced the appointment of two executives. Edward J. Lyons joins the company as Senior Vice President and Chief Financial Officer, and Lawrence C. Kleinman joins as Senior Vice President and Chief Human Resources Officer.

New World Pasta Company Announces Continuation of Work on its Financial Statements (HARRISBURG, PA – June 2, 2003)
New World Pasta Company announced today that work on the preparation of the Company’s audited Annual Report for the fiscal year ended December 31, 2002, its quarterly reports for the fiscal quarters ended September 28, 2002 and March 29, 2003, and its review of prior period financial statements, is continuing to progress, but that the Company will not complete its review or file these reports with the Securities and Exchange Commission by May 31, 2003. New World Pasta also announced today that the lenders under its senior secured credit facility have approved an amendment to that facility which permits the Company to file these reports by June 30, 2003.

New World Pasta Names New Chief Executive Officer (HARRISBURG, PA - May 5, 2003)
New World Pasta Company, a leading marketer and supplier of dry pasta, today announced the appointment of Wynn A. Willard as Chief Executive Officer of the Company. Mr. Willard’s most recent position was Senior Vice President and Chief Marketing Officer at Hershey Foods Corporation. Prior to that he was at Nabisco Holdings Corporation where he served in a variety of roles, including President of Planters Company and President and Chief Executive Officer of Nabisco Ltd., Canada. Mr. Willard brings with him more than 20 years of experience in the food and consumer packaged goods industries.

New World Pasta Company Announces Amendment of Credit Facility, Bond Waiver and Additional Liquidity (HARRISBURG, PA – February 19, 2003)
New World Pasta Company announced today that the lenders under its senior secured credit facility have approved an amendment to that facility. The amendment permits New World Pasta to file its Annual Report for the fiscal year ended December 31, 2002, and its quarterly report for the fiscal quarter ending March 29, 2003, by May 31, 2003. The amendment also waives or substantially relaxes financial and other covenants through February 10, 2004.

New World Pasta Company Receives Extention of its Bank Waiver (HARRISBURG, PA – February 11, 2003)
New World Pasta Company announced today that the lenders under its senior secured credit facility have extended their waiver of defaults under that facility that were caused by New World Pasta's failure to file its quarterly report on Form 10-Q with the Securities and Exchange Commission for the quarter ended September 28, 2002. This extension runs through February 17, 2003. The Company is in discussions with its lenders under its senior secured credit facility to obtain a continued waiver of these defaults for a longer period of time, and believes it will be able to obtain such a waiver. No assurances can be provided however, that such discussions will result in appropriate waivers for the Company. On December 2, 2002, New World Pasta had announced

New Executives Named at New World Pasta Company (HARRISBURG, PA – January 17, 2003)
New World Pasta Company today announced the appointment of Peter E. Cotter as interim President and Chief Operating Officer of the Company. Mr. Cotter has served in a number of senior management and operating positions, and is currently on a leave of absence from his position of Vice President – General Manager for Motor Coach Industries, Service Parts. The Company also today announced the appointment of Horst O. Sieben as interim Vice President and Chief Financial Officer of the Company, and that Angelo Fraggos has been named as the Company’s Vice President – Sales and Marketing. Mr. Fraggos has been the Company’s Vice President – Sales and Business Development since April 2000.

New World Pasta Company Announces Bank Waivers and Additional Liquidty Facility (HARRISBURG, PA -- December 2, 2002)
New World Pasta Company announced today that its lenders under its senior secured credit facility had waived defaults under that facility that were caused by New World Pasta's failure to file its quarterly report on Form 10-Q with the Securities and Exchange Commission for the quarter ended September 28, 2002, and that its lenders and an affiliate of New World Pasta’s majority stockholder had agreed to terms which provide additional liquidity to the Company.

New World Pasta Company Unable to Complete Third Quarter Financial Statements (HARRISBURG, PA -- November 20, 2002)
HARRISBURG, PA -- November 20, 2002 -- New World Pasta Company announced that it had notified the Trustee of its 9_% Senior Subordinated Notes due 2009 that it was unable to complete its financial statements for the three and nine month periods ended September 28, 2002 and, therefore, could not timely file its Quarterly Report on Form 10-Q with the Securities and Exchange Commission for such periods as required by the Notes. The Company said it became aware that its internal financial statements were incorrectly stated, primarily with respect to accounts receivable and inventory balances, but it could not at this time determine the extent by which these accounts may be overstated. The Company believes that these inaccuracies are primarily a result of inad