SAP
(TSX)

For the fiscal year ended March 31st, 2008.

Canadian, Europe and Argentina Dairy Products Sector

The excellence of the products in our Canada, Europe and Argentina Dairy Products Sector is anchored in the very roots of the Company. Consisting of our Dairy Products Division (Canada), our Dairy Products Division (Argentina), our Dairy Products Division (Europe), this sector offers our clients and our consumers, from around the world, a complete line of Dairy products that ranges from fluid milk to mozzarella, to cheddar, to specialty cheeses and fine cheeses, through whey by-products. Comprised of our first plants outside of North America, our Canadian and Other Dairy Products Sector represents a stepping stone out into the world.

USA Dairy Products Sector

Comprised of the Dairy Products Division (USA), our US Dairy Products Sector is making its mark through a combination of dynamism and a tradition of quality that enables us to remain at the forefront of the continuously evolving consumer habits. Thanks to our constant innovative efforts, our US Dairy Products Sector continues to lead the snack cheese category in that country, as well as the blue cheese category.

Primarily active in the retail segment, our Grocery Products Sector, consisting of our Bakery Division, manufactures and distributes snack cakes, pies, cereal bars as well as fresh cookies and tarts. As the most important manufacturer of snack cakes in Canada and a leader in the cereal bar market in Quebec, we remain conscious of consumption trends, allowing us to respond to consumer needs by offering both indulgent and nutritious products.

Click here for the location of Saputo plants around the world.