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SunOpta Announces Revenue Guidance of US$275 Million for 2004

February 05,2004
SunOpta Announces Revenue Guidance of US$275 Million for 2004

TORONTO, Feb 5, 2004 -- SunOpta Inc. (SunOpta) (Nasdaq:STKL) (TSX:SOY) announced today that 2003 sales should approximate US$199 million, an increase of 65% over 2002 sales. Fourth quarter '03 sales of approximately $55 million represent the Company's 25th consecutive quarter of record sales versus the same quarter in the previous year. Audited sales and earnings for the year will be issued on March 11, 2004.

Based on current business conditions, Jeremy N. Kendall, Chairman and CEO of SunOpta, estimated that 2004 sales should reach US$275 million, a 38.2% increase over 2003 levels. The significant increase in sales is attributable to both internal growth and the acquisitions completed during 2003. Mr. Kendall pointed out that the 2004 sales projections exclude additional acquisitions that may be consummated during the year.

All of the Company's subsidiaries are forecasting sales growth and profit improvement in the current year. Of special note, the Company's oat fiber business has experienced strong growth in 2003 as a result of the increased demand for low carbohydrate food products. The Company has approved production expansions at both of its oat fiber facilities in Cambridge, Minnesota and Louisville, Kentucky.

SunOpta Inc. is an owner/operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food markets. For the last five consecutive years, SunOpta was included in Profit magazine's 'Profit 100' list of the 100 fastest growing companies in Canada. The company has three business units: the Food Group, which specializes in sourcing, processing and distribution of natural and organic food products; integrated from seed through packaged products; the Environmental Industrial Group; a producer, distributor, and recycler of environmentally friendly industrial materials; and the Steam Explosion Technology Group who engineer and market clean pulping systems using patented steam explosion technology. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector.


Note: This news release may contain forward-looking information. Actual future results may differ materially. The risks, uncertainties, and other factors that could influence actual results are described in the Company's annual report to shareholders and in SEC filings.

SOURCE: SunOpta Inc.

SunOpta Inc.
Jeremy N. Kendall
Steve Bromley
Susan Wiekenkamp
Tel: 905-455-2528, ext 103

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