FOR IMMEDIATE RELEASE
FRIDAY, AUGUST 24, 2001

JOHN B. SANFILIPPO & SON, INC. SIGNS A LETTER OF INTENT TO ACQUIRE ALL OF THE OUTSTANDING SHARES OF THE NAVARRO PECAN COMPANY, INC. OF CORSICANA, TEXAS; TERMS NOT DISCLOSED

Elk Grove Village, IL, August 24, 2001 -- John B. Sanfilippo & Son, Inc. (Nasdaq: JBSS) today announced that it has signed a letter of intent with the shareholders of the Navarro Pecan Company, Inc. to acquire all of its outstanding shares.

The Navarro Pecan Company, Inc., which was started in 1977, is one of the largest pecan shellers in the United States. Officials at John B. Sanfilippo & Son, Inc. said that they expect to continue the Navarro shelling operation at its current facility. Other terms of the acquisition were not disclosed, and the closing, which is expected to occur in the next three months, is contingent upon due diligence, board approval and other conditions.

John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of shelled and in-shell nuts that are sold under a variety of private labels and under the Company's Fisher, Evon's and Sunshine Country brand names. The company also markets and distributes a diverse product line of other food and snack items.

The statements in this release are forward-looking. These forward-looking statements are based on the Company's current expectations and involve 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) circumstances adversely affecting the conditions to closing the proposed acquisition; (ii) sales activity for the Company's products; (iii) changes in the availability and costs of raw materials for the production of the Company's products; (iv) fluctuations in the value of the Company's inventories of nuts due to fluctuations in the market prices of these nuts; (v) 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 (vi) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the Company's control.