BELLVUE, Wash., and Chesapeake, VA., May 9, 2001

Penford Corporation's Industrial Ingredients Group Signs Supply Agreement with Natural Solutions Corporation

Penford Corporation (Nasdaq: PENX) announced today that its Cedar Rapids-based industrial ingredients group, Penford Products Co., signed an exclusive supply agreement with Natural Solutions Corporation (OTCBB: ICEB) to provide a series of natural-based ingredient products for inclusion in Natural Solution's anti-icing, de-icing, dust suppression, and soil stabilization product lines. Natural Solutions Corporation distributes Ice Ban^® anti-icing and de-icing products, as well as RB Ultra^® and RB Ultra Plus^® road stabilization and dust control products in the United States.

"Joining forces with Natural Solutions is in line with Penford's vision and commitment to be a leading research-driven, natural science company that develops and delivers value-added ingredient systems to our customers," said Jeffrey T. Cook, president and CEO of Penford Corporation.

Gregory R. Keeley, president of Penford Products Co., said, "We are pleased to partner with Natural Solutions and expand Penford's natural-based products throughout the United States. We believe Penford's carbohydrate technology and flexibility to manufacture customized products, combined with the strength of Natural Solutions' nationwide sales and distributor network will produce products that are environmentally sound solutions for ice control and road stabilization."

Jim Foshee, president of Natural Solutions Corporation, said, "Our search for a high quality partner to supply critical components for our expanding product lines led us to Penford Products Co. With research capabilities necessary to meet our ever-changing demands for product performance and quality, we are confident this supply agreement will ensure long-term access to advanced engineering for our product needs."

About Penford Corporation
Penford Corporation develops, manufactures and markets specialty natural-based ingredient systems for various applications, including papermaking, textiles and food products. For more information, please visit our Web site at www.penx.com.

This press release contains forward-looking statements concerning future performance of the Company's specialty ingredient systems and the prospects for the continuation of current performance trends in fiscal 2001. There are a variety of factors which could cause actual events to differ materially from those projected in the forward-looking statements such as decreases or delays in customer demand or orders, increased competition, decreases in market share, unfavorable changes in product mix, disappointments in product development efforts, interest rate and energy cost volatility, foreign exchange rate fluctuations and those listed in the Company's SEC reports, including the reports on Form 10-K for the year ended August 31, 2000.