SunOpta Provides Updates on Fiscal 2009 and Estimated Fiscal 2008 Results

As a direct result of the current uncertain and rapidly changing world-wide macroeconomic conditions, the Company has decided to take a cautious and responsible approach with regards to providing guidance, and in doing so, will not provide specific revenue and net earnings guidance at this time for 2009. The Company will provide updates when appropriate related to material changes in business affairs resulting from changes in economic conditions and will assess whether to provide revenue and net earnings guidance on an ongoing basis.

For 2009 as compared to 2008, the Company expects to realize continued growth from new product offerings, new and expanding customer relationships and expanded processing capabilities, including the Company's new soy processing and packaging operation in Modesto, California, which is expected to be operational late in the second quarter of 2009. The incremental revenues are expected to be offset somewhat by reduced Canadian and European revenues resulting from the decline in these currencies compared to the U.S. dollar and a decline in certain commodity prices which are ultimately reflected in selling prices. The Company believes that during 2009 customers will continue to focus on health conscious natural, organic and specialty foods and natural health products during these turbulent economic times and, with its initiatives to improve operating costs, feels well positioned to meet the needs of these growing markets.

The Company expects that net earnings for 2009 will improve as compared to 2008 as a result of improved pricing and product mix; the impact of capacity expansion, cost reduction and rationalization initiatives, many of which have now been implemented; fixed cost leverage; and the avoidance of certain professional fees and severance costs incurred in 2008 which are not expected to reoccur to the same extent in 2009. The Company's primary focus for 2009 remains the improvement of operating margins and returns on assets employed.

For 2008, the Company expects to realize revenues of approximately $1.05 billion, an increase of approximately 32% as compared to 2007 and in line with previously issued revenue guidance. This increase reflects internal growth for fiscal 2008 of approximately 16%.

Results for 2008 are expected to be considerably below previously provided adjusted net earnings(1) guidance. The shortfall is primarily the result of the impact on operations later in the fourth quarter of unfavorable foreign exchange movements, significant declines in the fourth quarter in certain commodity prices and the resulting mark to market impact on inventory values in a number of Company business segments, especially Opta Minerals Inc., and the impact of the previously announced arbitration decision on the results of the SunOpta BioProcess Group. The Company also expects to record non-cash charges for goodwill impairment in certain operations and certain non-cash tax valuations due to the recent decline in the Company's stock price combined with the impact of recent economic conditions. The Company also expects to realize a significant increase in cash generated from operating activities in 2008 versus cash used in operating activities in 2007 and anticipates it will be in compliance with all banking covenants as at December 31, 2008. The 2008 results remain subject to the conclusion of the Company's 2008 year end audit.