Smart Balance Completes Employee Stock Option Exchange Program

Smart Balance, Inc.

announced today that the Company completed the Stock Option Exchange Program for employees that was approved by the Company's stockholders at its February 15, 2011 Special Meeting of Stockholders. The Company indicated that a total of 2.5 million stock options were forfeited by eligible employees in exchange for 1.5 million replacement stock options. The replacement stock options carry an exercise price of $4.60, based on the closing price of Smart Balance common stock on March 23, 2011, as well as a new four-year vesting schedule. The Company has retired all stock options forfeited under the Stock Option Exchange Program.