KANSAS CITY, Mo., Feb. 23 /PRNewswire-FirstCall/ -- Premium Standard Farms, Inc. (NASDAQ:PORK) announced that its common stockholders have approved the merger agreement with Smithfield Foods, Inc. at a special meeting held today, Friday, February 23, 2007. As a result of the merger, PSF will become a wholly owned subsidiary of Smithfield and each outstanding share of PSF common stock will be converted into the right to receive 0.678 of a share of Smithfield common stock and $1.25 in cash. Under limited circumstances, Smithfield may substitute up to $1.00 in cash for a portion of the stock consideration having an equivalent value (based on the average price of Smithfield's common stock during a specified period prior to closing of the transaction).

Approximately 86.2% of the outstanding shares entitled to vote at the special meeting were voted in favor of adoption of the merger agreement. The closing of the merger remains subject to satisfaction of all other closing conditions, including the receipt of governmental approvals.