CHIQUITA BRANDS INTERNATIONAL, INC.
CONSOLIDATED INCOME STATEMENT
(In millions, except per share amounts)

On March 19, 2002, Chiquita completed its financial restructuring when its Plan of Reorganisation under Chapter 11 of the U.S. Bankruptcy Code became effective. For financial reporting purposes, the company used an effective date of March 31, 2002. References to "Predecessor Company" in the following table refer to the company prior to March 31, 2002. References to "Reorganised Company" refer to the company on or after March 31, 2002, after giving effect to the issuance of new securities in accordance with the Plan and implementation of fresh start accounting. In accordance with financial reporting requirements for companies emerging from a Chapter 11 restructuring, financial information for the year ended Dec. 31, 2002 is not presented in the following tables since it would combine results of the Predecessor Company and Reorganised Company.

Quarter Ended  Year-to-Date 
 Reorganised Predecessor Reorganised Co. Predecessor Company 
 Company Company 9 Months Ended Quarter Year 
 Ended  Ended 
 Dec. 31, Dec. 31, Dec. 31, March 31, Dec. 31, 
 2002 2001 2002 2002 2001 
 Net sales US$483.5 US$455.5 US$1,443.0 US$547.0 US$1,882.2 
 Operating expenses 
 Cost of sales 442.5 407.2 1,211.3 434.1 1,561.2 
 Selling, 
 general and 
 administrative 58.3 50.6 172.3 50.1 206.7 
 Depreciation  9.1 21.0 27.0 20.5 81.0 
 509.9 478.8 1,410.6 504.7 1,848.9 
 Operating income 
 (loss) (26.4) (23.3) 32.4 42.3 33.3 
 Interest income 1.0 0.7 3.0 0.6 7.8 
 Interest expense (10.4) (23.8) (33.1) (9.1) (120.4) 
 Financial 
 restructuring 
 items -- (27.3) -- (280.9)  (33.6) 
 Income (loss) from 
 continuing operations 
 before income taxes 
 and cumulative 
 effect of a change 
 in method of 
 accounting (35.8) (73.7) 2.3 (247.1) (112.9) 
 Income taxes (1.5) -- (4.4) (1.0) (7.0) 
 Loss from continuing 
 operations before 
 cumulative effect 
 of a change in 
 method of 
 accounting (37.3) (73.7) (2.1) (248.1) (119.9) 
 Discontinued 
 operations: 
 Income (loss) 
 from operations 1.2 -- 5.5 (0.3) 1.1 
 Financial 
 restructuring 
 items -- -- -- (4.9)  -- 
 Gain on disposal 9.8 -- 9.8 -- -- 
 Income (loss) 
 before cumulative 
 effect of a change 
 in method of 
 accounting (26.3) (73.7) 13.2 (253.3) (118.8) 
 Cumulative effect 
 of a change in 
 method of 
 accounting -- -- -- (144.5) -- 
 Net income 
 (loss) US$(26.3) US$(73.7) US$13.2 US$(397.8) US$(118.8) 
 Diluted earnings 
 per share+ : 
 Continuing 
 operations 
 before cumulative 
 effect of a 
 change in 
 method of 
 accounting US$(0.94) US$(0.98) US$(0.05) US$(3.16) US$(1.80) 
 Discontinued 
 operations 0.28 -- 0.38 (0.07) 0.02 
 Cumulative 
 effect of 
 a change 
 in method of 
 accounting -- -- -- (1.85)  -- 
 Net income 
 (loss) US$(0.66) US$(0.98) US$0.33 US$(5.08) US$(1.78) 
 Shares used to 
 calculate 
 diluted 
 earnings 
 per share+ 40.0 77.3 40.0 78.3  73.3

+ Earnings per share calculations for 2001 and for the quarter ended March 31, 2002 are based on shares of old common stock outstanding prior to the company's emergence from Chapter 11 proceedings on March 19, 2002. Upon emergence, these shares were cancelled, and the company issued 40.0 million new common shares.

Quarterly results are subject to significant seasonal variations and are not necessarily indicative of the results of operations for a full fiscal year. The company's results during the third and fourth quarters are generally weaker than in the first half of the year, due to availability of competing fruits and resulting lower banana prices.

 CHIQUITA BRANDS INTERNATIONAL, INC. 
 SUMMARISED FINANCIAL INFORMATION 
  (in millions) 
 (Unaudited) 
 Quarter Ended Year-to-Date 
 Reorganised Predecessor Reorganised Co. Predecessor Company 
  Company Company 9 Months Ended Quarter Year 
 Ended Ended 
 Dec. 31, Dec. 31, Dec. 31, March 31, Dec. 31, 
 2002  2001 2002 2002 2001 
 Operating income 
 (loss) US$(26.4) US$(23.3) US$32.4 US$42.3 US$33.3 
 Add back: 
 Unusual items(1) 22.1 19.4 22.1 -- 27.9 
  Segment operating 
 income (loss)(1) (4.3) (3.9) 54.5 42.3 61.2 
 Depreciation and 
 amortisation 9.1 22.2 27.0 20.5 85.7 
 EBITDA before 
 unusual items US$4.8 US$18.3 US$81.5 US$62.8 US$146.9 
 Free Cash Flow 
 EBITDA before 
 unusual items US$4.8 US$18.3 US$81.5 US$62.8 US$146.9 
 Interest income 1.0 0.7 3.0 0.6 7.8 
  Interest expense (10.4) (23.8)++ (33.1) (9.1) (120.4)++ 
 Income taxes (1.5) -- (4.4) (1.0) (7.0) 
 Capital 
 expenditures (24.5) (5.9) (43.8) (4.6) (28.0) 
 Free Cash Flow US$(30.6) US$(10.7) US$3.2 US$48.7 US$(0.7) 
 + The company evaluates the performance of its business segments based on 
 operating income before unusual items. Segment operating income for 
 the quarter ended Dec. 31, 2002 excludes the following unusual items: 
 US$12 million of write-downs and charges related to the restructuring of 
 Scipio/Atlanta, US$5 million associated with flooding in Costa Rica and 
 Panama and US$5 million for severance. For the year ended Dec. 31, 2001, 
 segment operating income excludes charges of US$28 million (US$20 million 
 in the fourth quarter) primarily associated with the closure of farms, 
 and a labour strike and related issues at the company's Armuelles, 
 Panama banana producing division. 
 ++ Interest expense for the respective quarter and year ended Dec. 31, 
 2001 includes US$14 million and US$78 million of accrued interest that was 
 exchanged, in lieu of payment, for new common stock and senior notes 
 upon completion of the company's financial restructuring in March 2002.
 
 
CHIQUITA BRANDS INTERNATIONAL, INC.
OPERATING STATISTICS
(in millions, except for percentages and exchange rates)
(Unaudited)
 
 Quarter Ended Percent Change 
 Dec. 31, Favourable 
 2002 2001 (Unfavourable) 
 Net sales by segment 
 Fresh Produce US$352.3 US$329.2 7.0% 
 Processed Foods 131.2  126.3 3.9% 
 Segment operating income (loss) 
 Fresh Produce US$(7.4) US$(11.3) 34.5% 
 Processed Foods 3.1 7.4 (58.1%) 
 Operating margins by segment 
 Fresh Produce (2.1%) (3.4%) 1.3 pts 
 Processed Foods 2.4% 5.9% (3.5) pts 

SG&A as a percent of sales 12.1% 11.1% (1.0) pts

 Banana sales volume 
 (40-pound boxes): 
 European Core Markets 11.5 10.5 9.5% 
 Central and Eastern Europe 
 and Mediterranean countries 4.7 2.9 62.1% 
 North America 13.0 13.4  (3.0%) 
 Asia Pacific (joint venture) 3.1 2.8 10.7% 
 Euro average exchange rate 
 (dollars per euro) 1.00 0.90 11.1% 
 Yen average exchange rate 
 (yen per dollar)  122 124 1.6% 

Canned vegetable cases sold 15.4 15.4 0.0%

CHIQUITA BRANDS INTERNATIONAL, INC.
OPERATING STATISTICS
(in millions, except for percentages and exchange rates)
(Unaudited)
 
 Year Ended Percent Change 
 Dec. 31, Favourable 
 2002 2001 (Unfavourable) 
 Net sales by segment 
 Fresh Produce US$1,547.5 US$1,432.0 8.1% 
 Processed Foods 442.5 450.2 (1.7%) 

SG&A as a percent of sales 11.2% 11.0% (0.2) pts

 Banana sales volume 
 (40-pound boxes): 
 European Core Markets 46.1 43.7 5.5% 
 Central and Eastern Europe 
 and Mediterranean countries 15.6 9.4 66.0% 
 North America 54.1 53.5 1.1% 
 Asia Pacific (joint venture) 12.2 11.4 7.0% 
 Percent of worldwide banana sales 
 Yellow (ripened) 19% 19% 0.0 pts 
 Green (unripened) 81% 81% 0.0 pts 
 Euro average exchange rate 
 (dollars per euro) 0.95 0.90 5.6% 
 Yen average exchange rate 
 (yen per dollar)  125 122 (2.5%) 

Canned vegetable cases sold 51.3 54.9 (6.6%)

CHIQUITA BRANDS INTERNATIONAL, INC.
PROGRESS TOWARD STRATEGIC GOALS
(in millions, except for debt-to-equity ratio)
(Unaudited)

The following tables will be used on a quarterly basis to report the company's progress against the strategic goals established and communicated to investors in September 2002.

Cost Reduction Programs 
 Savings vs. 2002 
 (in millions)

This table will track total gross cost reductions versus 2002 in farm productivity, canning operations, and global purchasing and overhead expenses. Targeted gross cost reductions do not reflect offsetting items, such as one- time implementation costs and changes in other costs, such as purchased fruit, paper and fuel. Starting with the first quarter 2003 earnings release, this table will track the projected impact of cost-reduction actions that have been completed.

2003 2004 2005

Targeted Gross Cost Reductions US$45 US$90 US$150

 Other Financial Measures 
 Progress toward targets 
 (in millions, except for debt-to-equity ratio) 
  2002 2003 2004 2005 Target 
 Cumulative Sale of 
 Assets to date US$99 US$106 US$100-150 

Total Debt at year-end US$517 US$400

 Debt-to-Equity Ratio at 
 year-end 45% 33% 

Annual Interest Expense + US$37

 + The company emerged from Chapter 11 bankruptcy in March 2002. Interest 
 expense for the nine months ended Dec. 31, 2002 totalled US$33 million.