UPDATE: Darden Says Will Review Latest Materials, Has Engaged Goldman, Morgan Stanley as Advisors

Darden Restaurants, Inc. DRI issued the following statement in response to the materials issued today by Starboard Value LP and its affiliates ("Starboard"). We are confident in the initiatives we have announced to improve performance and enhance shareholder value. Optimizing the value of Darden's properties has always been a focus for the Company. The Board of Directors, with the assistance of two independent financial advisors and legal counsel, again recently conducted an extensive assessment of alternatives for Darden's real estate and determined that a real estate separation would not enhance long-term shareholder value. The Company will review the latest Starboard materials and looks forward to addressing them in its ongoing conversations with Darden shareholders. Darden has engaged Goldman, Sachs & Co. as its financial advisor.  Morgan Stanley is serving as financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Darden's Board of Directors. Innisfree M&A Incorporated is serving as the Company's proxy solicitor and can be contacted toll-free at (888) 750-5834.