| WESTPORT, CT--(Marketwire - December 10, 2009) | | | | would represent a $1.3MM impact to its cost in the |
| - Triple Point Technology®, the leading provider of | | | | absence of hedging -- in 2008, the average price |
| multi-market commodity and enterprise risk | | | | volatility of bunker fuel was over 12%. Chiquita uses |
| management software solutions, announced today | | | | derivatives to hedge price movements in bunker fuel |
| that Chiquita Brands International Inc. has selected | | | | and must comply with Federal Accounting Standard |
| Commodity XL™ for Hedge Accounting, Fair Value | | | | (FAS) 133 to receive beneficial hedge accounting |
| Disclosure and FAS 161. | | | | treatment. The company was seeking improved |
| Chiquita is a leading international marketer and | | | | efficiency over its hedge accounting processes. |
| distributor of high-quality fresh and value-added food | | | | Commodity XL enables Chiquita to manage exposure |
| products including bananas, fruits and green salads. | | | | and comply with strict audit and reporting |
| With annual revenues of nearly $4 billion, Chiquita has | | | | requirements under FAS 133, 157 and 161. |
| operations in more than 80 countries worldwide. | | | | "Brand new markets are seeking Triple Point solutions |
| More of the world's population is joining the | | | | to drive cost volatility from the supply chain and |
| 'consumer' bracket, driving demand for raw materials | | | | preserve margins," said Michael Schwartz, chief |
| and fuels. As commodities become a larger and more | | | | marketing officer, Triple Point. "Triple Point's mission |
| volatile part of the supply chain cost structure, new | | | | has always been to help companies profitably buy, |
| industries are choosing Triple Point for the same | | | | sell and move commodities. Growing market share |
| sophisticated solutions it has traditionally supplied to | | | | across industries facing large exposure to commodity |
| energy and commodity trading companies. Notable | | | | inputs -- including food, heavy manufacturing and |
| clients in the consumer products, agricultural and | | | | transportation -- affirms Triple Point's leadership |
| manufacturing industries that have recently selected | | | | position." |
| Triple Point include Unilever, The Campbell Soup | | | | Chiquita selected Triple Point's Treasury and |
| Company, Gavilon (formerly ConAgra Trade Group) | | | | Regulatory Compliance solution suite including |
| and Incitec Pivot Ltd. | | | | Commodity XL™ for Hedge Accounting, Fair Value |
| Chiquita's core ships utilize 300,000 metric tons (MTs) | | | | Disclosure and FAS 161. |
| of bunker fuel annually. A 1% move in the fuel rate | | | | |