Lance and Snyder's of Hanover Complete Merger

Lance, Inc. and Snyder's of Hanover, Inc. announced the completion of their merger, first announced on July 22nd, 2010. The transaction brings together Snyder's, which makes pretzels and specialty snacks, with Lance, which makes sandwich crackers, potato chips, and cookies. The combined company will have a portfolio of snack food brands that includes Snyder's of Hanover, Lance, Cape Cod, Grande, Tom's, Jays, O-Ke-Doke, Stella D'oro, Krunchers!, Archway, Naturals as well as Lance Private Brands, a leader in private label cookies and crackers. Products will include pretzels, sandwich crackers, kettle chips, potato chips, cookies, tortilla chips and nuts.

The new company, named Snyder's-Lance, Inc., will maintain the stock ticker symbol 'LNCE' with shares traded on the NASDAQ exchange. Snyder's-Lance will draw on an experienced and talented group of leaders from both companies. Michael A. Warehime, current Snyder's Chairman, will serve as Chairman of the Board of the combined company, and W. J. Prezzano, current Lance Chairman, will serve as Lead Independent Director. David V. Singer, current Lance President and Chief Executive Officer, will become Chief Executive Officer of Snyder's-Lance. Carl E. Lee, Jr., current Snyder's President and Chief Executive Officer, will become President and Chief Operating Officer, and Rick D. Puckett, current Lance Executive Vice President and Chief Financial Officer, will become Executive Vice President and Chief Financial Officer of the combined company. The company will have its corporate headquarters in Charlotte, N.C. and additional headquarters in Hanover, Pa.