I am excited and optimistic as we venture into 2007. Although we have faced several new challenges this year, I am pleased to report that we made a significant increase in net sales in 2006, and we are positive about the future. Chiquita Brands International Inc. and its subsidiaries continue to operate as a leading international marketer and distributor of premium produce.

Financial Findings

As one of the largest banana producers in the world and a major supplier of bananas in Europe and North America, we look back on the 2006 year to evaluate future growth. Here are some financial findings from this year:

• Chiquita has had a tremendous upside in net sales for 2006 at $4.5 billion, compared to $3.9 billion for 2005. The increase resulted from the acquisition of Fresh Express in June 2005.

• The operating income, in a period of economic transition, had a loss for 2006 of $28 million, compared to $188 million operating income in 2005. Several factors, including natural disasters, goodwill impairment and overseas legal challenges, created difficulties for both operation and net income.

• The net income is also in a transitioning period with a $396 million loss compared to $131 million in 2005.

2006 Success and Challenges

Net sales escalated this year with the acquisition of Fresh Express in June 2005. Now the market leader in providing fresh, convenient salads to more than 20 million consumers a week, Fresh Express offers more than 50 salad products. After the launch of Fresh Express, sales have helped achieve Chiquita’s goal to become a global leader in healthy, fresh foods.

Net sales in 2006 also increased because of the strengthened value of the euro against the U.S. dollar, which caused sales and profits to rise. Chiquita’s finances were affected by this currency change in Europe, and we’re working to reduce its exposure to harmful effects of euro exchange rates should the euro weaken against the dollar.

Due to several challenges in 2006, the operating costs are on the rise and our company seeks rebuild its tactics and address these challenges head-on. Rises in industry costs, European tariffs and overall industry health scares have impacted operations.

Industry Costs

The rise in industry costs has created several challenges for Chiquita, and we will continue to address these challenges in 2007. Industry costs include a rise in bunker fuel, the cost of paper and plastic, resin costs, and the overall cost of fruit. Transportation costs, such as bunker fuel is a large component of the company and has increased dramatically since 2003. The company’s shipping costs also include paper and plastic, which are significant because our bananas are transported in cardboard boxes.

European Tariffs

In January of 2006, the European Commission eliminated the quota that was originally instated for the importation of bananas from Latin America and implemented a higher tariff. The new tariff, which increased from 75 euros to 176 euros per metric ton, costs approximately 1.84 euros per box of bananas imported by Chiquita from Latin America, our primary source of bananas. Ecuador is one of the first Latin American countries to reject this tariff. We are optimistic about its appeal.

The E.Coli Scare

Although there has been no link to E.Coli and Fresh Express, the consumer confidence of fresh food products has declined after the contaminated spinach products in September of 2006 were discovered. This impacted Fresh Express in the third and fourth quarters of 2006, resulting in lower sales and unforeseen costs. The company will incur costs because we are dedicated to the restoration of consumer confidence in fresh foods and the safety of our products. The company will continue to investigate new methods of food safety and promote our reputation of quality, fresh foods.

Priorities for 2007

At Chiquita, we are optimistic about our future and see our company as a world leader in fresh foods. In 2007, we are expected to double revenue since 2005 and double our profitability during the next five years. We expect to meet our consumer demands with new products, including Apple Bites and Banana Minis. They are as an appetizing and healthy children’s snack and a convenient bite on the go. Juice in a Bottle, one of our latest brands, thrived at its premier run in Belgium last June and we look forward to its future productivity. It is, after only six months, the leading fruit smoothing in Belgium. Chiquita also hopes to add Fresh Express products as well.

We are focusing on profitable growth by delivering innovative, profitable products. We have powerful brands with established records and people at Chiquita who are determined to see our company on top. Thank you to our shareholders, consumers and friends of Chiquita Brands International Inc.; we look forward to a great year.

Regards,

Fernando Aguirre

Chairman of the Board and

Chief Executive Officer

April 12, 2007