Lance, Inc. and Snyder’s of Hanover, Inc. Announce FTC Clearance for Proposed Merger

Lance, Inc. (NASDAQ: LNCE) (“Lance”) and Snyder’s of Hanover, Inc. (“Snyder’s”) today announced they have received clearance from the U. S. Federal Trade Commission via early termination of the review process under the Hart-Scott-Rodino Antitrust Improvements Act for their previously announced proposed merger of equals. The merger is expected to be completed in the fourth quarter of this year and is still subject to shareholder approval by Lance and Snyder’s stockholders and the satisfaction of other customary closing conditions.

“We are pleased with the quick and orderly review of our proposed merger by the Federal Trade Commission and their decision for early termination,” said Carl E. Lee, Jr., President and Chief Executive Officer of Snyder’s. “We remain very excited about the potential strength and scale of the combined companies and the value that the merger will bring to our consumers, customers and shareholders,” said David V. Singer, President and Chief Executive Officer of Lance.

On July 22, 2010, Lance and Snyder’s announced they had signed a definitive agreement to combine in a stock-for-stock merger of equals that will create a combined company to be called Snyder’s-Lance, Inc. (“Snyder’s-Lance”). In addition to leading iconic brands such as Lance®, Snyder’s of Hanover®, Cape Cod® and Grande®, Snyder’s-Lance will have a national distribution footprint including one of the largest Direct Store Delivery (“DSD”) networks in the United States.