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EXHIBIT 3
Joint Filing Agreement
In accordance with Rule 13d-1(k) under the Securities Exchange Act of
1934, as amended, each of the person named below agrees to the joint filing
of a Statement on Schedule 13D (including amendments thereto) with respect
to the common stock, par value $0.05, of IBP, Inc., a Delaware corporation
and further agrees that this Joint Filing Agreement be included as an
exhibit to such filings, provided that, as contemplated by Section
13d-1(k)(1)(ii), no person shall be responsible for the completeness or
accuracy of the information concerning the other person making the filing,
unless such person knows or has reason to believe that such information is
inaccurate. This Joint Filing may be executed in any number of
counterparts, all of which together shall constitute one and the same
instrument.
SMITHFIELD FOODS, INC.
By: /s/ C. Larry Pope
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Name: C. Larry Pope
Title: Vice President and Chief
Financial Officer
SF INVESTMENTS, INC.
By: /s/ Michael Cole
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Name: Michael Cole
Title: Vice President
