DARLING INTERNATIONAL INC. ANNOUNCES REFINANCING
Irving, Texas, April 5, 2004: Darling International Inc. (AMEX:DAR) announced that the Company has entered into a Credit Agreement with new lenders effective April 2, 2004. The refinancing replaces the prior Amended and Restated Credit Agreement executed in May 2002. The new Credit Agreement provides for $67.5 million in financing facilities over a five year term, including a $25.0 million Term Loan Facility which will be amortized over the term and a $42.5 million Revolver Facility which will provide a $25.0 million Letter of Credit subfacility. The refinancing provides increased availability and liquidity, lower interest rates, extended term, as well as more flexible capital investment parameters. Darling International Inc. is the largest publicly traded, food and animal by-products recycling company in the United States. The Company collects and recycles used restaurant cooking oil and by-products from the beef, pork and poultry processing industries into useable products such as tallow, feed-grade fats and meat and bone meal. These products are primarily sold to animal feed and oleo-chemical manufacturers around the world. In addition, the Company provides grease trap collection services and sells equipment to restaurants. The Company’s shares are traded on the American Stock Exchange under the symbol DAR. In AMEX trading on April 2, 2004, Darling stock closed at $3.49 per share.