October 28, 2008 (Montreal, QC) – Today, Saputo Inc. awarded 17 athletes with bursaries totalling $65,000 as part of the Saputo Bursary Program, which is managed by the Quebec Foundation for Athletic Excellence. This initiative is perfectly aligned with Saputo’s objective to promote physical activity and, a healthy and balanced lifestyle. Saputo is already playing an important role to support sports in Québec and because of its sponsorship of the 2010 Olympic and Paralympic Games in Vancouver, as well as its partnership with the Canadian Olympic teams of the recent Beijing Games and the upcoming Vancouver 2010 and London 2012 Olympic Games; they are now doing more to support athletes and sports internationally. Through such partnerships Saputo became the official supplier of packaged dairy products, which will be both distributed and sold during the 2010 Games and offered to Team Canada athletes.

Over the past 8 years, Saputo has proudly supported talented athletes, who work hard on a daily basis to be the best in their respective discipline. Saputo shares their passion and desire to surpass themselves and do their best to achieve their personal objectives. The Saputo bursary recipients are an inspiration to fellow athletes and everyone who crosses their path. Their determination, courage and perseverance enable them to be commendable ambassadors of sports and actual role models for the general public.

In 2005, Saputo renewed its partnership with the Quebec Foundation for Athletic Excellence announcing their 5-year commitment in the amount of $425,000. Of this amount, $25,000 per year serves to ensure the pursuit of the Foundation’s activities, while $60,000 is used to grant bursaries to athletes in various disciplines. This year, Saputo chose to increase the amount granted to each athlete and therefore awarded larger sums to each recipient.

Nordic skier and former National Ski Team member Dasha Gaiazova 24, is a 2008 Saputo Bursary Recipient for $5000.00. Gaiazova won a gold medal at the 2008 Europe Cup 5 km classic race last winter.

About Saputo

Together, over the years, we have aspired to grow, exploring new opportunities while staying true to our culture. Our progress is owed to the continued dedication of our 9,200 employees, who, across 5 countries, team up every day to go further. They craft, market and distribute a wide range of high-quality products, including cheese, milk, yogurt, dairy ingredients and snack-cakes. Saputo is the 15th largest dairy processor in the world, the largest in Canada, the third largest in Argentina, among the top three cheese producers in the United States, and the largest snack-cake manufacturer in Canada. Consumers and customers in over 40 countries appreciate our products distributed under our well-known brands such as Saputo, Alexis de Portneuf, Armstrong, Baxter, Dairyland, Danscorella, De Lucia, Dragone, DuVillage 1860, Frigo, Kingsey, La Paulina, Nutrilait, Ricrem, Stella, Treasure Cave, HOP&GO!, Rondeau and Vachon. Saputo Inc. is a public company whose shares are traded on the Toronto Stock Exchange under the symbol SAP.

About the Quebec Foundation for Athletic Excellence

The mission of the Quebec Foundation for Athletic Excellence is to support and encourage student-athletes in their pursuit of excellence and to promote athletes as role models in Québec society. By the end of 2008, through its various bursary programs, the Foundation will have handed out over $625,000. www.faeq.com