Consumer >> Analyst Interviews >> February 16, 2004

OUTLOOK FOR FOOD STOCKS: TIMOTHY RAMEY – D.A. DAVIDSON & CO

TIMOTHY S. RAMEY is a Senior Research Analyst for D. A. Davidson & Co. He joined the Institutional Equity Research Team from Sara Lee Corporation's Executive Management Committee where he served as Vice President of Strategy and New Ventures. At Sara Lee, Mr. Ramey directed the company's acquisition and internal investment strategies and oversaw the strategic development of new business ventures as well as the new product development process. Previously, he was Director of Food, Wine and Agribusiness Research at Deutsche Bank Securities. Mr. Ramey also held similar executive positions in food industry research at NatWest Securities and Kidder, Peabody & Co., Inc. He serves on the board of directors of Strategic Diagnostics Inc. (NASDAQ: SDIX), a leading provider of biotechnology-based diagnostic tests for a broad range of agricultural, industrial and water treatment applications. Mr. Ramey is past President of the consumer analyst Group of New York. He earned a BA degree in Psychology from the University of Washington and a Chartered Financial Analyst designation. Mr. Ramey plans to round out D. A. Davidson's consumer products coverage with a focus on food, food retailers/wholesalers and wine. Within these broad categories, his expertise lends itself to the narrower divisions of packaged foods, grocery retailing, meat processors and wine. Profile
TWST: Can you give us an overview of 2003 and, in particular, how the

food stocks performed last year?

Mr. Ramey: Food stocks lagged throughout much of the year, but then had

a very strong