Penford Names Russell A. Allwell as Managing Director of its Australia and New Zealand Operations

Penford Corporation (Nasdaq: PENX), a global leader in
ingredient systems for food and industrial applications, today
announced that Russell A. Allwell will join the Company as Managing
Director of its operations based in Australia and New Zealand.
   Penford Corporation President and Chief Executive Officer, Thomas
D. Malkoski, said: "We are pleased to welcome Russell to the Penford
team. Russell's experience and abilities will enable us to better
serve our customers' needs in our domestic markets and in the
Asia-Pacific region."
   Mr. Allwell most recently held significant management
responsibilities with George Weston Foods. Prior to that, he held
management positions with Berri Ltd., Simplot Australia and Kraft
Foods. He obtained a Bachelor of Business from Swinburne University in
Melbourne.

   Penford Corporation develops, manufactures and markets specialty
natural-based ingredient systems for various applications, including
papermaking, textiles and food products. Penford has nine locations in
the United States, Australia and New Zealand.