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Flowers Foods Declares Dividend

November 14, 2008

THOMASVILLE, Ga., Nov. 14 /PRNewswire-FirstCall/ — The board of directors of Flowers Foods today announced a quarterly dividend of $.15 per share. This action renews the annual dividend rate of $.60. The dividend is payable on December 12, 2008, to shareholders of record on November 28, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080530/CLF007LOGO )

George E. Deese, Flowers Foods’ chairman of the board, CEO, and president, said the action reflects the board’s confidence in the company’s ability to deliver good results moving forward. “We announced positive third quarter results last week,” he said. “Our balance sheet is strong and our operating strengths are evident. One of our long-held strategies is to return value to our shareholders over time. This dividend allows our investors to participate in the company’s success.”

Headquartered in Thomasville, Ga., Flowers Foods, with annual sales of over $2.4 billion, is one of the nation’s leading producers and marketers of packaged bakery foods for retail and foodservice customers. Flowers operates 39 bakeries that produce a wide range of bakery products marketed throughout the Southeastern, Southwestern, and mid-Atlantic states via an extensive direct-store-delivery network and nationwide through other delivery systems. Among the company’s top brands are Nature’s Own, Whitewheat, Cobblestone Mill, Blue Bird, and Mrs. Freshley’s. For more information, visit http://www.flowersfoods.com/ .

Statements contained in this press release that are not historical facts are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. Other factors that may cause actual results to differ from the forward-looking statements contained in this release and that may affect the company’s prospects in general include, but are not limited to, (a) competitive conditions in the baked foods industry, including promotional and price competition, (b) changes in consumer demand for our products, (c) the success of productivity improvements and new product introductions, (d) a significant reduction in business with any of our major customers including a reduction from adverse developments in any of our customer’s business, (e) fluctuations in commodity pricing and (f) our ability to achieve cash flow from capital expenditures and acquisitions and the availability of new acquisitions that build shareholder value. In addition, our results may also be affected by general factors such as economic and business conditions (including the baked foods markets), interest and inflation rates and such other factors as are described in the company’s filings with the Securities and Exchange Commission.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080530/CLF007LOGOAP Archive: http://photoarchive.ap.org/PRN Photo Desk, photodesk@prnewswire.com

Flowers Foods

CONTACT: Mary A. Krier, VP-Communications of Flowers Foods,+1-229-227-2333

Web site: http://www.flowersfoods.com/




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