FOR IMMEDIATE RELEASE
MONDAY, JANUARY 28, 2002

Second Quarter EPS Ties the Record $0.52 EPS of the Prior Year's Quarter Institutional Debt Levels Continue to Compare Favorably to Debt Levels of the Prior Year

Elk Grove Village, IL, January 28, 2002 -- John B. Sanfilippo & Son, Inc. (Nasdaq: JBSS) today announced operating results for the second quarter of fiscal 2002, ended December 27, 2001. Net income was approximately $4.8 million or 52 cents per share equaling the record EPS reported for the second quarter of fiscal 2001. For the current six-month period, net income was approximately $5.9 million or 64 cents per share compared to approximately $6.0 million or 66 cents per share for the same period in fiscal 2001.

Net sales increased slightly to approximately $112.8 million in the second quarter of fiscal 2002 from net sales of approximately $112.4 million in the second quarter of fiscal 2001. The slight increase in net sales was attributable to gains in the Consumer distribution channel offset by declines in Industrial sales during the second quarter. The current second quarter gross profit margin of 15.4 percent of net sales decreased from the 16.6 percent for the second quarter of fiscal 2001. The decrease in gross profit margin for the quarter was mainly attributed to decreases in the gross profit margins on Industrial sales and an increase in Private Label sales as a percentage of the total sales mix. Net sales for the current six-month period were approximately $197.5 million, relatively unchanged from approximately $197.0 million for the same period in fiscal 2001. Gross profit margin of 14.4 percent for the current six-month period decreased from the 15.5 percent for the same period in fiscal 2001. Again, a decrease in gross profit margin on Industrial sales and the effects of increased Private Label sales as a percentage of the total sales mix were the primary reasons for the decrease in gross profit margin for the six-month period.

As a percent of net sales, selling and administrative expenses were 7.2 percent of net sales for the fiscal 2002 second quarter versus 7.8 percent of net sales for the second quarter of fiscal 2001. For the current six-month period, selling and administrative expenses were 8.1 percent of net sales versus 8.4 percent of net sales for the same period in fiscal 2001. The decrease in selling and administrative expenses for both the second quarter and six-month period was due to general cost reductions in selling expense. For the second quarter of fiscal 2002, operating income was 8.2 percent of net sales versus 8.8 percent of net sales for the second quarter of fiscal 2001. Operating income for the current six-month period was 6.3 percent of net sales compared to 7.1 percent of net sales for the first six months of fiscal 2001.

Interest expense for the second quarter of fiscal 2002 was approximately $1.4 million compared to approximately $2.1 million for the second quarter of fiscal 2001. Interest expense for the current six-month period was approximately $3.0 million versus approximately $4.2 million for the first six months of fiscal 2001. Lower average borrowing levels and lower interest rates accounted for the interest expense decrease for both the quarterly and six-month periods.

"We are very pleased with our performance for the second quarter of fiscal 2002," stated Jasper B. Sanfilippo, chairman and chief executive officer. "We have mirrored last year's record for EPS for a quarter despite the current difficult economic conditions. Management intends to put forth every effort to maintain the record performance of fiscal 2001 in these challenging times," concluded Mr. Sanfilippo.

John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of shelled and in-shell nuts and sesame sticks that are sold under a variety of private labels and under the company's Evon's^®, Fisher^®, Snack 'N Serve Nut Bowl™, Sunshine Country^®, Flavor Tree^® and Texas Pride™ brand names. The company also markets and distributes a diverse product line of other food and snack items.

The statement of Jasper B. Sanfilippo in this release is forward looking. This forward-looking statement is based on the company's current expectations and involves risks and uncertainties. Consequently, the company's actual results could differ materially. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company's products; (ii) changes in the availability and costs of raw materials for the production of the Company's products; (iii) fluctuations in the value of the Company's inventories of pecans, walnuts or other nuts due to fluctuations in the market prices of these nuts; (iv) the Company's ability to lessen the negative impact of competitive pressures by reducing its selling prices and increasing sales volume while at the same time maintaining profit margins by reducing costs; and (v) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the company's control.

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