Exhibit 99.1

Contact:   Karla Harvill

        770-393-5091

Gold Kist Inc. Reports Fourth Quarter and Fiscal 2004 Results

ATLANTA, Ga. (August 26, 2004) – Gold Kist Inc. today reported financial results for the fourth quarter and fiscal year ended June 26, 2004. For the fourth fiscal quarter, net margins were $54.1 million, compared with net margins of $14.6 million in the same quarter last year. Fourth quarter sales were $631.5 million, compared with $490.6 million for the year-earlier period.

For the fiscal year ended June 26, 2004, the company reported net margins of $110.9 million, compared with a net loss of $51.5 million, for the prior year. Sales for fiscal 2004 increased 21.9 percent to $2.3 billion from $1.9 billion for fiscal 2003.

“The increase in net sales was due primarily to an approximate 22 percent increase in average broiler sales prices for the fiscal year, slightly offset by a decrease in broiler pounds produced,” said John Bekkers, president and chief executive officer. “Increased margins for the year also resulted from higher broiler selling prices, partially offset by higher feed ingredient costs, particularly soybean meal, which was 29.2 percent higher per ton for fiscal 2004 compared with fiscal 2003.”

Gold Kist Inc. will hold a conference call to discuss this press release today, August 26, 2004, at 2:00 p.m. Eastern time. Investors will have the opportunity to listen to a live Internet broadcast of the conference call through the Company’s Web site at www.goldkist.com or through www.fulldisclosure.com. To listen to the live call, please go to the Web site at least 15 minutes early to register and download and install any necessary audio software. For those who cannot listen to the live broadcast, an Internet replay will be available shortly after the call and continue through September 26, 2004. If Internet access is unavailable, you may participate on the live call by telephone by dialing (800) 289-0518. The confirmation number for this call is 179537.

About Gold Kist

Gold Kist is the third largest integrated broiler company in the United States, accounting for more than 9 percent of chicken, or broiler, meat produced in the United States in 2003. Gold Kist operates a fully-integrated broiler production business that provides processing, purchasing and marketing services to its contract growers. Gold Kist’s broiler production operations include nine broiler complexes located in Alabama, Florida, Georgia, North Carolina and South Carolina. For more information, visit our website at www.goldkist.com.

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GKI Reports Fiscal 2004 Year-end Results

Page 2

August 26, 2004

As previously announced Gold Kist is in the process of seeking the approval of its members for a conversion of Gold Kist from a cooperative marketing association organized under the Georgia Cooperative Marketing Act to a for profit corporation organized under the laws of the State of Delaware. Gold Kist Holdings Inc. has filed with the Securities and Exchange Commission a registration statement on Form S-4 relating to the conversion that was declared effective on August 13, 2004 and first delivered to members on August 16, 2004. Members of Gold Kist are urged to read the registration statement and the accompanying documents. These documents contain important information about the conversion and are available for free on the SEC web site at www.sec.gov.

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GOLD KIST INC.

CONSOLIDATED BALANCE SHEETS

(Dollar Amounts, Except Per Share Amounts, in Thousands)

(Unaudited)

		June 2003				June 2004
ASSETS
Current assets:
Cash and cash equivalents		$	11,026			$	136,699
Receivables, net			104,699				137,654
Inventories			196,728				232,905
Deferred income taxes			43,270				20,482
Other current assets			20,100				31,564
Total current assets			375,823				559,304
Investments			66,805				12,760
Property, plant and equipment, net			226,905				231,657
Deferred income taxes			26,822				20,060
Other assets			65,692				62,076
		$	762,047			$	885,857
LIABILITIES AND EQUITY
Current liabilities:
Notes payable and current maturities of long-term debt		$	22,162			$	21,167
Accounts payable			63,281				75,292
Accrued compensation and related expenses			31,875				52,074
Interest left on deposit			8,495				7,687
Other current liabilities			39,783				57,839
Total current liabilities			165,596				214,059
Long-term debt, less current maturities			324,011				282,954
Accrued pension costs			44,487				53,825
Accrued postretirement benefit costs			10,119				7,539
Other liabilities			33,937				42,865
Total liabilities			578,150				601,242
Patrons’ and other equity:
Common stock, $1.00 par value—Authorized 500,000 shares; issued and outstanding 2,515 in 2003 and 2,449 in 2004			2				2
Patronage reserves			185,620				219,964
Accumulated other comprehensive loss			(43,448	)			(44,422	)
Retained earnings			41,723				109,071
Total patrons’ and other equity			183,897				284,615
		$	762,047			$	885,857

GOLD KIST INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in Thousands)

(Unaudited)

		Quarter								Year to Date
		June 2003				June 2004				June 2003				June 2004
Net sales volume		$	490,625			$	631,524			$	1,855,126			$	2,260,728
Cost of sales			452,530				496,552				1,813,106				1,899,395
Gross margins			38,095				134,972				42,020				361,333
Distribution, administrative and general expenses			22,018				28,278				81,859				108,772
Benefit plans curtailment gains and pension settlement (expense)			9,392				(380	)			20,257				(10,288	)
Net operating margins (loss)			25,469				106,314				(19,582	)			242,273
Other income (deductions):
Interest and dividend income			232				489				2,283				1,550
Interest expense			(6,545	)			(7,989	)			(24,968	)			(35,690	)
Loss on investment			—				(38,878	)			(24,064	)			(57,364	)
Miscellaneous, net			(840	)			(3,477	)			(2,428	)			1,942
Total other deductions, net			(7,153	)			(49,855	)			(49,177	)			(89,562	)
Margins (loss) from operations before income taxes			18,316				56,459				(68,759	)			152,711
Income tax expense (benefit)			3,701				2,317				(17,307	)			41,817
Net margins (loss)		$	14,615			$	54,142			$	(51,452	)		$	110,894

GOLD KIST INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in Thousands)

(Unaudited)

		Quarter								Year to Date
		June 2003				June 2004				June 2003				June 2004
Cash flows from operating activities:
Margins (loss) from continuing operations		$	14,615			$	54,142			$	(51,452	)		$	110,894
Non-cash items included in net margins (loss) from continuing operations:
Depreciation and amortization			10,134				10,054				39,495				39,592
Loss on investment			—				38,878				24,064				57,364
Benefit plans curtailment gains			(9,392	)			—				(20,257	)			—
Pension and other benefit plans expense			259				1,140				2,665				17,779
Deferred income tax expense (benefit)			2,529				12,506				(14,850	)			28,696
Other			1,183				(1,931	)			999				(3,172	)
Changes in operating assets and liabilities:
Receivables			2,123				(20,498	)			5,771				(32,972	)
Inventories			(5,274	)			(11,622	)			(5,598	)			(36,177	)
Other current assets			1,123				(7,866	)			2,994				(8,522	)
Accounts payable, accrued and other expenses			7,856				(30	)			518				48,482
Net cash provided by (used in) operating activities of continuing operations			25,156				74,773				(15,651	)			221,964
Net cash used in operating activities of discontinued operations			—				—				(18,381	)			—
Net cash provided by (used in) operating activities			25,156				74,773				(34,032	)			221,964
Cash flows from investing activities:
Acquisitions of property, plant and equipment			(6,780	)			(22,400	)			(34,651	)			(42,210	)
Proceeds from disposal of investments			13				(43	)			482				—
Proceeds from employee life insurance policy surrenders			7,537				—				7,537				—
Other			(6,077	)			(1,518	)			(1,651	)			1,364
Net cash used in investing activities			(5,307	)			(23,961	)			(28,283	)			(40,846	)
Cash flows from financing activities:
Short-term debt repayments, net			(7,500	)			—				(10,000	)			—
Proceeds from long-term debt			—				—				202,920				196,940
Principal repayments of long-term debt			(17,194	)			(5,433	)			(123,017	)			(240,485	)
Payments of capitalized financing costs			—				(2,040	)			(3,007	)			(7,965	)
Patronage refunds and other equity paid in cash			(1,987	)			(166	)			(7,601	)			(3,935	)
Proceeds from employee life insurance policy borrowings			5,049				—				5,049				—
Net cash provided by (used in) financing activities			(21,632	)			(7,639	)			64,344				(55,445	)
Net change in cash and cash equivalents			(1,783	)			43,173				2,029				125,673
Cash and cash equivalents at beginning of period			12,809				93,526				8,997				11,026
Cash and cash equivalents at end of period		$	11,026			$	136,699			$	11,026			$	136,699
Supplemental disclosure of cash flow data:
Cash paid (received) during the years for:
Interest (net of amounts capitalized)		$	6,631			$	3,682			$	25,571			$	36,918
Income taxes		$	(6	)		$	21,725			$	(5,855	)		$	20,177