Chiquita Announces Closing of US$200 Million of 4.25% Convertible Senior Notes Due 2016

Cincinnati (ots/PRNewswire) -

Chiquita Brands International, Inc. (NYSE: CQB) today announced
the closing of its offering of US$200 million aggregate principal
amount of 4.25% Convertible Senior Notes, including the full exercise
by the underwriters of the US$25 million overallotment option granted
by the company. Net proceeds of approximately US$194 million will be
used to repay a portion of the outstanding amounts under the
company's Term Loan C of its senior secured credit facility.

The convertible senior notes mature in 2016 and will bear
interest at a rate of 4.25% per annum, payable semiannually in
arrears, beginning Aug. 15, 2008. The Notes are convertible, under
certain circumstances described in the prospectus, at an initial
conversion rate of 44.5524 shares of common stock per US$1,000
original principal amount of Notes, equivalent to an initial
conversion price of approximately US$22.45 per share of Chiquita
common stock, subject to adjustment. This represents an initial
premium of approximately 32.5% to the last reported sale price of
Chiquita's common stock on Feb. 6, 2008 of US$16.94.

The Notes are unsecured unsubordinated obligations of Chiquita
Brands International, Inc. and rank equally with any unsecured
unsubordinated indebtedness Chiquita may incur. Beginning Feb. 19,
2014, Chiquita may call the Notes for redemption if the common stock
trades above 130% of the conversion price, or initially approximately
US$29.19 per share, for at least 20 of the 30 trading days preceding
the redemption notice. The offer and sale of the convertible senior
notes were made pursuant to an effective shelf registration statement
filed with the Securities and Exchange Commission.

Goldman, Sachs & Co. and Morgan Stanley & Co. Inc. were the joint
book-running managers for the offering. A prospectus relating to the
offering may be obtained from Goldman, Sachs & Co., Prospectus
Department, 85 Broad Street, New York, New York 10004, fax:
+1-212-902-9316 or email at prospectus-ny@ny.email.gs.com. A
prospectus may also be obtained from Morgan Stanley & Co. Inc.,
Prospectus Department, 180 Varick Street, New York, New York 10014,
via telephone at +1-866-718-1649, or via email at
prospectus@morganstanley.com .

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.

ABOUT CHIQUITA BRANDS INTERNATIONAL, INC.

With annual revenues of approximately US$4.7 billion, Chiquita
Brands International, Inc. (NYSE: CQB) is a leading international
marketer and distributor of high-quality fresh and value-added food
products - from energy-rich bananas and other fruits to nutritious
blends of convenient green salads. The company markets its products
under the Chiquita(R) and Fresh Express(R) premium brands and other
related trademarks. Chiquita employs approximately 25,000 people
operating in more than 70 countries worldwide.

FORWARD-LOOKING STATEMENTS

This press release contains certain statements that are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements, are
subject to a number of assumptions, risks and uncertainties, many of
which are beyond the control of Chiquita, including changes in the
competitive environment in Europe, following the 2006 conversion to a
tariff-only banana import regime in the European Union; unusual
weather conditions; industry and competitive conditions; access to,
and cost of, capital; our ability to achieve the cost savings and
other benefits anticipated from the restructuring announced in
October 2007; cost increases and our ability to pass them through to
our customers; product recalls and other events affecting the
industry and consumer confidence in our products; the customary risks
experienced by global food companies, such as the impact of product
and commodity prices, food safety, currency exchange rate
fluctuations, government regulations, labor relations, taxes, crop
risks, political instability and terrorism; and the outcome of
pending claims and governmental investigations involving the company
and legal fees and other costs incurred in connection with them.

Any forward-looking statements made in this press release speak
as of the date made and are not guarantees of future performance.
Actual results or developments may differ materially from the
expectations expressed or implied in the forward-looking statements,
and the company undertakes no obligation to update any such
statements. Additional information on factors that could influence
Chiquita's financial results is included in its SEC filings,
including its Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K.

Web site: http://www.chiquita.com

ots Originaltext: Chiquita Brands International, Inc.
Im Internet recherchierbar: http://www.presseportal.de

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Ed Loyd of Chiquita Brands International, Inc., +1-513-784-8935,
eloyd@chiquita.com