Sara Lee Corporation Presents at Sanford C. Bernstein & Co. Strategic Decisions Conference

North American businesses continue to create momentum
DOWNERS GROVE, Ill.--(Business Wire)--
Sara Lee Corporation (NYSE: SLE) presented at the Sanford C. Bernstein & Co.
Strategic Decisions Conference in New York, NY. Brenda C. Barnes, chief
executive officer and chairman, Sara Lee Corporation, provided an overview of
the company`s strategic framework to create shareholder value. CJ Fraleigh,
chief executive officer, Sara Lee North American Retail and Foodservice,
detailed the company`s plans to build on the success of its North American
businesses.

"Sara Lee`s focus on the consumer, customer, operations and people have allowed
us to build strong brands, introduce innovative new products, take costs out of
the organization and build an organization that is focused on success," said
Barnes. "We have the strategies in place to drive shareholder value, and I`m
confident we will build on the momentum we have created."

Barnes outlined the organization`s strategies to deliver shareholder value,
which included focusing resources on core categories such as International
Beverage and North American Retail. She also discussed exiting unattractive
businesses and expanding in high-growth developing markets including Russia,
India and Brazil. When sharing the company`s efforts to reduce costs, improve
efficiencies and simplify the business, Barnes noted that the company is rapidly
making progress on Project Accelerate, a cost-savings initiative designed to
deliver more than $250 million annually by fiscal 2011. Project Accelerate
includes business process outsourcing, SG&A reduction, supply chain optimization
and ongoing continuous improvement and LEAN initiatives.

Following Barnes, Fraleigh outlined the momentum Sara Lee`s North American
businesses are experiencing, as evidenced by the recent performance of the
Retail and Foodservice businesses. Sara Lee North America`s big brands, such as
Sara Lee, Hillshire Farm, Jimmy Dean and Ball Park, compete in large, fragmented
categories, offering opportunities for growth.

"Hillshire Farm is Sara Lee`s next big brand, with tremendous momentum from
recent product launches such as Premium Deli lunchmeat and Miller Beer brats,"
added Fraleigh. "In addition, Jimmy Dean sales have progressed steadily,
reaching an estimated $676 million in fiscal 2009. Ball Park hot dogs, the No. 1
hot dog in America, continue to increase their lead in the marketplace. This is
evidence of our success in North America, and we`re excited to keep the momentum
going in the future."

Fraleigh noted that the North American Foodservice business is succeeding in a
challenging market. The business has the No. 1 position in the foodservice
frozen bakery and liquid coffee categories. This business plans to continue to
improve by shifting its mix to focus on more profitable products, cultivate
customers and segments that deliver superior returns, simplify the business and
sharpen performance.

Barnes concluded the presentation by noting how the company is building on a
successful fiscal 2008 by delivering strong results through the first three
quarters of fiscal 2009. She noted that Sara Lee`s gains in net sales, operating
income and margins position it to continue to grow as the economy recovers.

The presentation (audio and slides) is available in the Investor Relations
section of the Sara Lee corporate Web site until Nov. 27, 2009.

Forward-Looking Statements

This release contains forward-looking statements regarding Sara Lee`s business
prospects, costs and operating results." In addition, from time to time, in oral
statements and written reports, the company discusses its expectations regarding
its future performance by making forward-looking statements preceded by terms
such as "expects," "plans" or "believes." These forward-looking statements are
based on currently available competitive, financial and economic data and
management`s views and assumptions regarding future events. Forward-looking
statements are inherently uncertain, and investors must recognize that actual
results may differ from those expressed or implied in the forward-looking
statements. Consequently, the company wishes to caution readers not to place
undue reliance on any forward-looking statements. Among the factors that could
cause Sara Lee`s actual results to differ from such forward-looking statements
are factors relating to:

• Sara Lee`s relationship with its customers, such as (i) a significant change in Sara Lee`s business with any of its major customers, such as Wal-Mart, its largest customer, including changes in the level of inventory these customers maintain; and (ii) credit and other business risks associated with customers operating in a highly competitive retail environment;

• The consumer marketplace, such as (iii) significant competition, including advertising, promotional and price competition, and
changes in consumer demand for Sara Lee`s products; (iv) fluctuations in the availability and cost of raw materials, Sara Lee`s
ability to increase or maintain product prices in response and the impact on Sara Lee`s profitability; (v) the impact of various
food safety issues and regulations on sales and profitability of Sara Lee products; and (vi) inherent risks in the marketplace
associated with new product introductions, including uncertainties about trade and consumer acceptance;

• Sara Lee`s international operations, such as (vii) impacts on reported earnings from fluctuations in foreign currency exchange
rates, particularly the European euro, given Sara Lee`s significant concentration of business in Western Europe; (viii) Sara
Lee`s generation of a high percentage of its revenues from businesses outside the United States and costs to remit these foreign
earnings into the United States to fund Sara Lee`s domestic operations; (ix) the impact on Sara Lee`s business of its
announcement that it is reviewing strategic options for its international household and body care business and any decision made
as a result of such review; and (x) Sara Lee`s ability to continue to source production and conduct manufacturing and selling
operations in various countries due to changing business conditions, political environments, import quotas and the financial
condition of suppliers;

• Previous business decisions, such as (xi) Sara Lee`s ability to generate margin improvement through continuous improvement
initiatives and transitioning the entire organization to a common information technology system and the risk that the transition
to a common information technology system will be disruptive to the business; (xii) Sara Lee`s ability to achieve planned cash
flows from capital expenditures and acquisitions, particularly its worldwide bakery business, and the impact of changing
interest rates and the cost of capital on the discounted value of those planned cash flows, which could impact future impairment
analyses; (xiii) credit ratings issued by the three major credit rating agencies and the impact these ratings have on Sara Lee`s
cost to borrow funds and access to capital/debt markets; (xiv) the settlement of a number of ongoing reviews of Sara Lee`s
income tax filing positions in various jurisdictions and inherent uncertainties related to the interpretation of tax regulations
in the jurisdictions in which Sara Lee transacts business; and (xv) changes in the expense for and contingent liabilities
relating to multi-employer pension plans in which Sara Lee participates.

In addition, the company`s results may also be affected by general factors, such
as economic conditions, political developments, interest and inflation rates,
accounting standards, taxes and laws and regulations in markets where the
company competes. Sara Lee undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information, future
events or otherwise.

About Sara Lee Corporation

Each and every day, Sara Lee (NYSE: SLE) delights millions of consumers and
customers around the world. The company has one of the world`s best-loved and
leading portfolios with its innovative and trusted food, beverage, household and
body care brands, including Ambi Pur, Ball Park, Douwe Egberts, Hillshire Farm,
Jimmy Dean, Kiwi, Sanex, Sara Lee and Senseo. Collectively, these brands
generate more than $13 billion in annual net sales covering approximately 200
countries. The Sara Lee community consists of 44,000 employees worldwide. Please
visit www.saralee.com for the latest news and in-depth information about Sara
Lee and its brands.

Sara Lee Corporation
Media:
Mike Cummins, +1.630.598.8412
or
Analysts:
Aaron Hoffman, +1.630.598.8739

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