Michigan–Based Company Achieves Turnaround, Secures New Financing, & Hires CEO

September 1, 2011

Graceland Fruit, Inc. is pleased to announce the closing of a major financing transaction with its primary lender to support the Company’s rapidly expanding business opportunities, including attractive growth prospects in several international markets. Meagan Hardcastle, the Company’s Chief Restructuring Officer stated, “The Company has demonstrated a remarkable turnaround over the past year and this additional funding will serve to further accelerate its commendable progress. We believe this funding is a reaffirmation of the positive direction Graceland is heading and recognition of the Company’s very bright future. Graceland Fruit’s success is directly attributable to the hard work and dedication of its talented team of employees. The Company is also very fortunate to have such a supportive financial partner.” Graceland is a leading producer of dried fruit products. Headquartered in Frankfort, Michigan, it is a major employer in Benzie County providing 200 jobs in the community.

Graceland Fruit is also pleased to announce that after an extensive search, the Board of Directors has hired Mr. Alan DeVore to take the helm as Chief Executive Officer. Mr. DeVore is a well-rounded businessman with functional experience in sales, marketing, operations, lean manufacturing, accounting and finance. He began working with Graceland Fruit in July 2010 as a key member of the restructuring team, providing technical manufacturing expertise and assisting in the Company’s turnaround efforts. Prior to entering the consulting industry, Mr. DeVore held senior roles in several manufacturing companies, including tenures as President, Chief Executive Officer, and Chief Operating Officer. Ms. Hardcastle notes that “over the past year, Mr. DeVore has earned the trust and respect of Graceland Fruit’s employee base and management team, who are delighted to welcome him into the CEO position. His talent and strategic vision will serve the Company very well, and I anticipate that Graceland will be transformed into a world-class organization under his leadership. This is a very exciting time for everyone involved with Graceland Fruit.”

To contact Graceland Fruit visit www.gracelandfruit.com.