Net sales in the fourth quarter of 1996 totalled $35,080,000, an increase of 7% over 1995 fourth quarter sales of $32,787,000. Net loss in the fourth quarter of 1996 was $1,201,000, compared to net income of $859,000 in the fourth quarter of 1995. Net loss per common share in the 1996 fourth quarter was $0.17, which was within the range previously announced, compared to net income per common share of $0.12 in the fourth quarter of 1995.

The Company's net sales for all of 1996 totalled $167,155,000 compared to 1995 sales of $155,333,000, an increase of 8%. Net income for all of 1996 was $3,926,000, compared to $5,948,000 in 1995, a decrease of 34%. Net income per common share for 1996 was $0.54 compared to $0.83 for 1995.

As the Company announced in December, losses in the fourth quarter are the result of significantly higher than normal levels of promotional spending during that time to maintain the Company's domestic market position. In addition, market entry costs in Europe contributed to the loss, as was indicated would be the case.

Ben & Jerry's produces superpremium ice cream, ice cream novelties, lowfat and non-fat frozen yogurt, and sorbets using Vermont dairy products, Vermont spring water and high quality natural ingredients. Ben & Jerry's products are distributed nationwide and in selected foreign countries in supermarkets, grocery stores, convenience stores, restaurants, franchised scoop shops and other venues.