Wolf Haldenstein Investigating Monterey Gourmet Foods, Inc. Proposed Acquisition

Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Monterey Gourmet Foods, Inc. (“Monterey” or the “Company”) (NASDAQ:PSTA) arising out of the proposed acquisition of Monterey by Pulmuone U.S.A., Inc. (“Pulmuone”).

On October 8, 2009, Monterey announced that it will be acquired by Pulmuone in an all cash offer. Under the terms of the agreement, Monterey stockholders will receive cash of $2.70 in exchange for each share of Monterey common stock. However, the Company may not have adequately shopped itself around before entering into this transaction and, pursuant to this proposed transaction, Pulmuone may be underpaying for Monterey, thus unlawfully harming Monterey shareholders.

Wolf Haldenstein has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in U.S. federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.

If you own Monterey common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact: