WASHINGTON, DC -- (Marketwire) -- 12/08/08 -- Notice is hereby given that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of American Depository Receipts ("ADRs" or "shares") of Sadia S.A. (NYSE: SDA) ("Sadia" or the "Company") between April 30, 2008 and September 26, 2008, inclusive (the "Class Period"). As discussed below, if you are a member of the class described above, you may, not later than January 5, 2009, move the Court to serve as lead plaintiff of the class.

The Complaint charges Sadia and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Sadia is a refrigerated and frozen protein products company that offers processed products, poultry, and pork in Brazil. The Complaint alleges that Sadia and/or certain of its officers knowingly or recklessly failed to disclose and misrepresented the following material adverse facts: (1) that the Company had entered into currency derivative contracts that were unnecessary, too large, and in clear violation of the Company's hedging policy; (2) that the Company's exposure to currency contracts was not "nominal," but rather extremely large and speculative; (3) that the Company lacked adequate internal and financial controls; and (4) that as a result the Company's financial statements were materially false and misleading at all relevant times.

On September 25, 2008, the Company shocked investors when it announced that it had suffered losses of approximately $410 million due to investments in currency contracts hedging against the U.S. dollar. Upon the release of this news, the Company's shares fell $5.77 per share, or 37.79 percent, to close on September 26, 2008 at $9.50 per share, on unusually heavy trading volume. The Company also announced that its Chief Financial Officer had been dismissed. On October 6, 2008, the Company announced that its Chairman and Vice Chairman had resigned.

If you purchased Sadia's publicly traded securities during the Class Period (April 30, 2008 and September 26, 2008), you may, no later than January 5, 2009 move to be appointed as a Lead Plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Please contact us at www.klafterolsen.com or call us at 202/261-3553 for a more thorough explanation of the lead plaintiff selection process and the claims that can be asserted against Sadia.

Klafter Olsen & Lesser LLP has extensive expertise in prosecuting investor class actions involving financial fraud and has offices in Washington D.C. and New York. Please visit our website for more information about the Firm.