Sysco Corporation Recommends Rejection of Mini-Tender Offer by TRC Capital Corporation

Sysco Corporation SYY has been notified of an unsolicited "mini-tender" offer by TRC Capital Corporation of Ontario, Canada, to purchase up to 3.5 million shares, or approximately 0.6 percent of the outstanding Sysco shares, at a price of $26.65 per share. TRC's offer represents a 4.41 percent discount below Sysco's closing price on August 17, 2011, the day before the offer commenced. In addition, TRC's offer is subject to numerous conditions, including the availability of financing on terms satisfactory to TRC. Sysco does not endorse TRC's offer and recommends that shareholders do not tender their shares in response to the offer because it is a mini-tender offer at a price below the current market price for Sysco's shares and subject to numerous conditions. Sysco urges shareholders to obtain current market quotations for their shares, review the conditions to the offer, consult with their broker or financial adviser, and exercise caution with respect to TRC's offer. Sysco is not associated in any way with TRC, its mini-tender offer, or the offer documentation.