Dole Food Company provided information to shareholders about tax implications of the company's privatization transaction. The notice discusses that shareholders will recognize capital gains or losses for tax purposes equal to the difference between the cash received and their tax basis in the shares. Gains or losses will be long-term if the shares were held for over 12 months. Shareholders are advised to consult their own tax advisors to understand how this transaction may affect their individual tax situation.

1. DOLE FOOD COMPANY, INC.
One Dole Drive
Westlake Village, California 91362
January 2, 2004
IMPORTANT TAX INFORMATION REGARDING
THE “PRIVATIZATION” OF DOLE FOOD COMPANY, INC.
The purpose of this notice is to provide important information on how to
determine your tax basis in the shares of Dole Food Company, Inc. for which you
received cash in connection with the “going private” transaction.
This discussion is for general information only and does not purport to consider
all aspects of federal income taxa tion that might be relevant to the beneficial
holders of Dole common stock. This discussion applies only to beneficial holders
of Dole common stock in whose hands shares are capital assets within the
meaning of Section 1221 of the Internal Revenue Code of 1986 and may not
apply to beneficial holders who acquired their shares pursuant to the exercise of
employee stock option or other compensation arrangements with Dole or who
are subject to special tax treatment under the Internal Revenue Code of 1986. In
addition, this discussion does not discuss the federal income tax consequences
to a beneficial holder of Dole common stock who, for United States federal
income tax purposes, is a non-resident alien individual, a foreign corporation, a
foreign partnership or a foreign estate or trust, nor does it consider the effect of
any state, local or foreign tax laws.
The receipt of cash for Dole common stock pursuant to the merger is a taxable
transaction for United States federal income tax purposes. In general, a
beneficial holder who received cash in exchange for shares in the “going private”
transaction will recognize gain or loss for federal income tax purposes equal to
the difference, if any, between the amount of cash received and the beneficial
holder’s adjusted tax basis in the shares surrendered for cash. Gain or loss will
be determined separately for each block of shares (i.e., shares acquired at the
same cost in a single transaction) surrendered for cash. Such gain or loss will be
long-term capital gain or loss provided that the beneficial holder’s holding period
for such shares was more than 12 months at the time of the closing (March 28,
2003) of the “going private” transaction.
Receipt of such cash may also be a taxable transaction under applicable state,
local and foreign tax laws.
Because individual circumstances may differ, you should consult your own
tax advisor with respect to your particular circumstances and with respect
to the effects of any state, local or foreign tax laws to which you may be
subject.