ZURICH, SWITZERLAND, Jul 20 (MARKET WIRE) —
Barry Callebaut AG / Barry Callebaut welcomes decision of SIX Swiss
Exchange Sanction Commission processed and transmitted by Hugin AS. The
issuer is solely responsible for the content of this announcement.

Zurich/Switzerland, July 20, 2010 – Barry Callebaut AG, the world’s
leading manufacturer of high-quality cocoa and chocolate products,
welcomes the decision by the Sanction Commission of SIX Swiss Exchange
announced today, under which Barry Callebaut is cleared of all charges
relating to application of IFRS in its consolidated financial statements
for fiscal year 2007/08.

Expert opinions differ regarding application of IAS 2 and IAS 39

On November 6, 2008, Barry Callebaut published the 2007/08 consolidated
financial statements audited by KPMG AG (KPMG). KPMG confirmed that the
consolidated financial statements gave a fair presentation of the
company’s financial position and financial performance in accordance with
International Financial Reporting Standards (IFRS). SIX Exchange
Regulation, as the regulatory authority for listed companies, also
reviewed the financial statements and concluded that two standards had
been violated: IAS 2 in connection with the valuation of inventories and
IAS 39 in connection with treatment of inventories as hedging instruments
in a fair value hedge accounting model. In response, Barry Callebaut
submitted an opinion by KPMG in the subsequent sanction proceedings
stating that the reporting method selected offered the best possible way
to provide information about the business model. In addition, Barry
Callebaut submitted an opinion from the Institute of Accounting,
Controlling and Auditing at the University of St. Gallen that also
confirms that the accounting model used by Barry Callebaut is consistent
with IFRS rules. The Sanction Commission mandated a partner of
PricewaterhouseCoopers AG (PwC) to provide an expert opinion as an
additional expert. This opinion represents a third view of how IAS 2 and
IAS 39 can best be applied to Barry Callebaut’s business model.

As a result, the Sanction Commission held that different recognized
experts had arrived at different results regarding application of IFRS
and had reached different opinions as to the best way to report
information to investors. According to the Commission, the company had
obviously relied to a considerable degree on expert knowledge in order to
achieve adequate compliance with IFRS. As a consequence, the Sanction
Commission cleared Barry Callebaut and its representatives of all charges
and did not issue a sanction or require payment of the costs of the
proceedings.

In the view of Barry Callebaut, both the method favored by KPMG and the
method favored by the PwC expert for valuing inventories and applying
hedge accounting would ultimately lead to the same result. Accordingly,
the profit figures reported by Barry Callebaut in the audited 2007/08
annual report are correct.

Change in the application of IAS 2 and IAS 39 as of fiscal year 2010/11

Due to the fact that acknowledged experts arrived at different
interpretations regarding the accounting model to be used, Barry
Callebaut has decided to modify the accounting model used to date.

In the revised model, inventories will be valued at the lower of cost and
net realizable value. In the future, the broker-trader exemption,
according to which inventories are fair valued, will no longer be applied
nor will such inventories be designated as hedging instruments to hedge
firm sales commitments for chocolate. The latter will consequently no
longer be fair valued. The cocoa price risks related to inventories
exceeding these firm sales commitments will be hedged with cocoa futures
in a fair value hedge relationship.

This revised model, which will be introduced prospectively as from fiscal
year 2010/11, will produce essentially the same result with regard to
presentation in the income statement as the accounting model used to
date. The differences will involve only some changes in the presentation
of the balance sheet and disclosures provided in the notes. In accordance
with IFRS, prior-year figures will not be restated.

* * *

About Barry Callebaut (www.barry-callebaut.com):

With annual sales of about CHF 4.9 billion for fiscal year 2008/09,
Zurich- based Barry Callebaut is the world’s leading manufacturer of
high-quality cocoa and chocolate – from the cocoa bean to the finished
product on the store shelf. Barry Callebaut is present in 26 countries,
operates more than 40 production facilities and employs about 7,500
people. The company serves the entire food industry, from food
manufacturers to professional users of chocolate (such as chocolatiers,
pastry chefs or bakers), to global retailers. Barry Callebaut is the
global leader in cocoa and chocolate innovations and provides a
comprehensive range of services in the fields of product development,
processing, training and marketing. The company is actively engaged in
initiatives and projects that contribute to a more sustainable cocoa
supply
chain.

* * *
Contacts

For investors and financial analysts: For the media:

Evelyn Nassar Gaby Tschofen
Head of Investor Relations VP Corporate Communications
Barry Callebaut AG Barry Callebaut AG
Tel.: +41 43 204 04 23 Tel.: +41 43 204 04 60
evelyn_nassar@barry-callebaut.com gaby_tschofen@barry-callebaut.com

The complete news release can be downloaded from the following link:

[HUG#1432547] — End of Message —

Barry Callebaut AG
P.O. Box Zurich null

WKN: 914661;ISIN: CH0009002962;

News Release (PDF): http://hugin.info/100441/R/1432547/378689.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other
applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality
of the information contained therein.

All reproduction for further distribution is prohibited.

Source: Barry Callebaut AG via Thomson Reuters ONE

Copyright 2010, Market Wire, All rights reserved.

Barry Callebaut AG / Barry Callebaut welcomes decision of SIX Swiss Exchange Sanction
Commission processed and transmitted by Hugin AS. The issuer is solely responsible for
the content of this announcement.

Zurich/Switzerland, July 20, 2010 – Barry Callebaut AG, the world’s leading manufacturer
of high-quality cocoa and chocolate products, welcomes the decision by the Sanction
Commission of SIX Swiss Exchange announced today, under which Barry Callebaut is cleared
of all charges relating to application of IFRS in its consolidated financial statements
for fiscal year 2007/08.

Expert opinions differ regarding application of IAS 2 and IAS 39

On November 6, 2008, Barry Callebaut published the 2007/08 consolidated financial
statements audited by KPMG AG (KPMG). KPMG confirmed that the consolidated financial
statements gave a fair presentation of the company’s financial position and financial
performance in accordance with International Financial Reporting Standards (IFRS). SIX
Exchange Regulation, as the regulatory authority for listed companies, also reviewed the
financial statements and concluded that two standards had been violated: IAS 2 in
connection with the valuation of inventories and IAS 39 in connection with treatment of
inventories as hedging instruments in a fair value hedge accounting model. In response,
Barry Callebaut submitted an opinion by KPMG in the subsequent sanction proceedings
stating that the reporting method selected offered the best possible way to provide
information about the business model. In addition, Barry Callebaut submitted an opinion
from the Institute of Accounting, Controlling and Auditing at the University of St.
Gallen that also confirms that the accounting model used by Barry Callebaut is
consistent with IFRS rules. The Sanction Commission mandated a partner of
PricewaterhouseCoopers AG (PwC) to provide an expert opinion as an additional expert.
This opinion represents a third view of how IAS 2 and IAS 39 can best be applied to
Barry Callebaut’s business model.

As a result, the Sanction Commission held that different recognized experts had arrived
at different results regarding application of IFRS and had reached different opinions as
to the best way to report information to investors. According to the Commission, the
company had obviously relied to a considerable degree on expert knowledge in order to
achieve adequate compliance with IFRS. As a consequence, the Sanction Commission cleared
Barry Callebaut and its representatives of all charges and did not issue a sanction or
require payment of the costs of the proceedings.

In the view of Barry Callebaut, both the method favored by KPMG and the method favored
by the PwC expert for valuing inventories and applying hedge accounting would ultimately
lead to the same result. Accordingly, the profit figures reported by Barry Callebaut in
the audited 2007/08 annual report are correct.

Change in the application of IAS 2 and IAS 39 as of fiscal year 2010/11

Due to the fact that acknowledged experts arrived at different interpretations regarding
the accounting model to be used, Barry Callebaut has decided to modify the accounting
model used to date.

In the revised model, inventories will be valued at the lower of cost and net realizable
value. In the future, the broker-trader exemption, according to which inventories are
fair valued, will no longer be applied nor will such inventories be designated as
hedging instruments to hedge firm sales commitments for chocolate. The latter will
consequently no longer be fair valued. The cocoa price risks related to inventories
exceeding these firm sales commitments will be hedged with cocoa futures in a fair value
hedge relationship.

This revised model, which will be introduced prospectively as from fiscal year 2010/11,
will produce essentially the same result with regard to presentation in the income
statement as the accounting model used to date. The differences will involve only some
changes in the presentation of the balance sheet and disclosures provided in the notes.
In accordance with IFRS, prior-year figures will not be restated.

* * *

About Barry Callebaut (www.barry-callebaut.com http://www.barry-callebaut.com/ ):
With annual sales of about CHF 4.9 billion for fiscal year 2008/09, Zurich-based Barry
Callebaut is the world’s leading manufacturer of high-quality cocoa and chocolate – from
the cocoa bean to the finished product on the store shelf. Barry Callebaut is present in
26 countries, operates more than 40 production facilities and employs about 7,500
people. The company serves the entire food industry, from food manufacturers to
professional users of chocolate (such as chocolatiers, pastry chefs or bakers), to
global retailers. Barry Callebaut is the global leader in cocoa and chocolate
innovations and provides a comprehensive range of services in the fields of product
development, processing, training and marketing. The company is actively engaged in
initiatives and projects that contribute to a more sustainable cocoa supply chain.

* * *

Contacts

For investors and financial analysts: For the media:
Evelyn Nassar Gaby Tschofen
Head of Investor Relations VP Corporate Communications
Barry Callebaut AG Barry Callebaut AG
Tel.: +41 43 204 04 23 Tel.: +41 43 204 04 60
evelyn_nassar@barry-callebaut.com gaby_tschofen@barry-callebaut.com

The complete news release can be downloaded from the following link:

HUG#1432547

News Release (PDF) http://hugin.info/100441/R/1432547/378689.pdf

— End of Message —

Barry Callebaut AG
P.O. Box Zurich null

WKN: 914661;ISIN: CH0009002962;