DARLING INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
September 28, 2002 and December 29, 2001
(in thousands, except shares and per share data)

September 28, December 29,
2002 2001
------------- -----------
(unaudited)
ASSETS
- ------
Current assets:
Cash and cash equivalents ....................................... $ 9,694 $ 3,668
Accounts receivable ............................................. 22,466 23,719
Inventories ..................................................... 7,471 7,698
Prepaid expenses ................................................ 6,341 4,394
Assets held for sale (note 10) .................................. 5,268 -
Deferred income taxes ........................................... 4,070 2,203
Other ........................................................... 110 209
-------- --------
Total current assets ........................................ 55,420 41,891
Property, plant and equipment, less accumulated depreciation
of $149,701 at September 28, 2002 and $155,555 at December 29, 2001 71,868 74,744
Collection routes and contracts, less accumulated amortization
of $23,136 at September 28, 2002 and $22,139 at
December 29, 2001 (note 2d) ....................................... 24,112 27,366
Goodwill, less accumulated amortization of $1,077 at
September 28, 2002 and December 29, 2001 (note 2d) ................ 4,429 4,429
Assets held for sale (note 10) ....................................... - 3,002
Other noncurrent assets .............................................. 7,624 7,647
-------- --------
$ 163,453 $ 159,079
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
- ----------------------------------------------
Current liabilities:
Current portion of long-term debt (note 6) ...................... $ 4,352 $ 120,053
Accounts payable, principally trade ............................. 8,551 11,104
Accrued expenses ................................................ 27,361 24,069
Accrued interest ................................................ 362 3,383
-------- --------
Total current liabilities ................................... 40,626 158,609
Long-term debt, less current portion (note 6) ........................ 69,704 -
Other non-current liabilities ........................................ 5,798 8,134
Deferred income taxes ................................................ 3,874 1,990
-------- --------
Total liabilities ........................................... 120,002 168,733
-------- --------
Redeemable Preferred Stock, $0.01 par value, 1,000,000 shares
authorized, 100,000 shares outstanding (note 6) ................... 8,227 -
Stockholders' equity (deficit) (note 6):
Common stock, $0.01 par value; 100,000,000 shares authorized;
62,302,448 and 15,589,362 shares issued and outstanding at
September 28, 2002 and at December 29, 2001, respectively .... 623 156
Additional paid-in capital ...................................... 74,361 35,235
Treasury stock, at cost; 21,000 shares at September 28, 2002
and December 29, 2001 ...................................... (172) (172)
Accumulated comprehensive loss .................................. (533) (533)
Accumulated deficit ............................................. (39,055) (44,340)
-------- --------
Total stockholders equity (deficit) ........................ 35,224 (9,654)
-------- --------
Contingencies (note 3)
$ 163,453 $ 159,079
======== ========
The accompanying notes are an integral part of these consolidated financial statements.

Page 3

DARLING INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS
Three months and nine months ended September 28, 2002 and September 29, 2001
(in thousands, except per share data)

Three Months Ended Nine Months Ended
------------------------------ -----------------------------
September 28, September 29, September 28, September 29,
2002 2001 2002 2001
------------- ------------- ------------- -------------
(unaudited) (unaudited)
Net sales .......................................... $ 72,933 $ 61,500 $ 191,890 $ 176,819
-------- -------- -------- --------
Costs and expenses:
Cost of sales and operating expenses .......... 54,272 47,993 142,729 136,778
Selling, general and administrative expenses .. 7,333 6,742 22,776 20,396
Depreciation and amortization ................. 4,246 5,508 12,271 17,700
-------- -------- -------- --------
Total costs and expenses ................... 65,851 60,243 177,776 174,874
-------- -------- -------- --------
Operating income ........................... 7,082 1,257 14,114 1,945
-------- -------- -------- --------
Other income (expense):
Interest expense .............................. (700) (3,956) (5,971) (10,450)
Other, net .................................... (233) (505) 1,261 (1,042)
-------- -------- -------- --------
Total other expense ....................... (933) (4,461) (4,710) (11,492)
-------- -------- -------- --------
Income (loss) from continuing operations
before income taxes .............................. 6,149 (3,204) 9,404 (9,547)
Income taxes ....................................... (2,340) - (3,733) -
-------- -------- -------- --------
Income (loss) from continuing operations ... 3,809 (3,204) 5,671 (9,547)
Discontinued operations
Loss from discontinued operations, net of tax (356) (315) (386) (842)
-------- -------- -------- --------
Net income (loss) .................................. 3,453 (3,519) 5,285 (10,389)
Preferred dividends and accretion .......... (375) - (630) -
-------- -------- -------- --------
Net income (loss) applicable to
common shareholders ...................... $ 3,078 $ (3,519) $ 4,655 $ (10,389)
======== ======== ======== ========
Basic and diluted income (loss) per share:
Continuing operations ....................... $ 0.06 $ (0.21) $ 0.13 $ (0.62)
Discontinued operations ..................... (0.01) (0.02) (0.01) (0.05)
-------- -------- -------- --------
Total .......................... $ 0.05 $ (0.23) $ 0.12 $ (0.67)
======== ======== ======== ========
The accompanying notes are an integral part of these consolidated financial statements.

Page 4

DARLING INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS
Nine months ended September 28, 2002 and September 29, 2001
(in thousands)

Nine Months Ended
------------------------------
September 28, September 29,
2002 2001
------------- -------------
(unaudited)
Cash flows from operating activities:
Income (loss) from continuing operations ......................... $ 5,671 $ (9,547)
Adjustments to reconcile net income (loss) to
net cash provided (used) by continuing operating activities:
Depreciation and amortization ................................. 12,271 17,700
Gain on disposal of property, plant, equipment and other assets (1,558) (109)
Changes in operating assets and liabilities:
Accounts receivable .......................................... 1,253 (3,371)
Inventories and prepaid expenses ............................. (1,720) (1,083)
Accounts payable and accrued expenses ........................ 4,594 (5,328)
Accrued interest ............................................. 2,310 (48)
Other ........................................................ 779 (1,954)
-------- --------
Net cash provided (used) by continuing operations ..................... 23,600 (3,740)
Net cash provided by discontinued operations .......................... 954 816
-------- --------
Net cash provided (used) by operating activities ......... 24,554 (2,924)
-------- --------
Cash flows from investing activities:
Capital expenditures ............................................. (9,807) (6,016)
Gross proceeds from disposal of property, plant and equipment
and other assets .............................................. 1,622 142
Additions to intangible assets ................................... - (310)
-------- --------
Net cash used by investing activities ................... (8,185) (6,184)
-------- --------
Cash flows from financing activities:
Proceeds from long-term debt ..................................... 141,665 157,021
Payments on long-term debt ....................................... (147,676) (142,375)
Recapitalization issuance costs ................................... (4,043) (2,169)
Contract payments ................................................. (289) (3,470)
-------- --------
Net cash provided (used) by financing activities ........ (10,343) 9,007
-------- --------
Net increase (decrease) in cash and cash equivalents .................. 6,026 (101)
Cash and cash equivalents at beginning of period ...................... 3,668 3,509
-------- --------
Cash and cash equivalents at end of period ............................ $ 9,694 $ 3,408
======== ========
Supplemental disclosure of cash flow information:
Cash paid during the period for:
Interest ..................................................... $ 3,661 $ 10,498
======== ========
Income taxes, net of refunds ................................. $ 619 $ 41
======== ========
Noncash financing activity - Recapitalization transactions (note 6):
Debt reduction ................................................... $ (39,986) -
Accrued interest reduction ....................................... (5,331) -
Forbearance fees reduction ....................................... (3,855) -
Preferred stock, net of discount ................................. 8,072 -
Common stock issued .............................................. 41,100 -
The accompanying notes are an integral part of these consolidated financial statements.

Page 5

September 28, December 29,
2002 2001
------------- ------------
Collection Routes and Contracts:
Routes ............................... $ 42,307 $ 42,307
Non-compete agreements ................ 4,627 6,797
Royalty and consulting agreements ..... 314 401
--------- --------
47,248 49,505
Accumulated Amortization:
Routes ................................ (20,028) (17,498)
Non-compete agreements ................ (2,926) (4,423)
Royalty and consulting agreements ..... (182) (218)
--------- --------
(23,136) (22,139)
--------- --------
Collection routes and contracts,
less accumulated amortization .......... $ 24,112 $ 27,366
========= ========

Three Months Ended Nine Months Ended
-----------------------------------------------------------
September 28, September 29, September 28, September 29,
2002 2001 2002 2001
---------------------------- ----------------------------
Reported net income (loss) applicable
to common shareholders .................. $ 3,078 $(3,519) $ 4,655 $(10,389)
Add back: goodwill amortization ............ - 51 - 191
------- -------- ------- --------
Adjusted net income (loss) applicable
to common shareholders .................. $ 3,078 $(3,468) $ 4,655 $(10,198)
======= ======== ======= ========
Basic earnings (loss) per share:
Reported net income (loss) .................. $ 0.05 $ (0.23) $ 0.12 $ (0.67)
Add back: goodwill amortization ............ - 0.01 - 0.02
------- -------- ------- --------
Adjusted net income (loss) .................. $ 0.05 $ (0.22) $ 0.12 $ (0.65)
======= ======== ======= ========

Three Months Ended Nine Months Ended
-----------------------------------------------------------------
September 28, September 29, September 28, September 29,
2002 2001 2002 2001
-----------------------------------------------------------------
Rendering:
Trade $ 44,797 $ 45,429 $129,878 $131,726
Intersegment 9,730 9,735 26,236 22,552
--------- --------- -------- --------
54,527 55,164 156,114 154,278
--------- --------- -------- --------
Restaurant Services:
Trade 28,136 16,071 62,012 45,093
Intersegment 3,256 1,650 7,118 5,008
--------- --------- -------- --------
31,392 17,721 69,130 50,101
--------- --------- -------- --------
Eliminations (12,986) (11,385) (33,354) (27,560)
--------- --------- -------- --------
Total $ 72,933 $ 61,500 $191,890 $176,819
========= ========= ======== ========

Three Months Ended Nine Months Ended
------------------------------------------------------------
September 28, September 29, September 28, September 29,
2002 2001 2002 2001
------------------------------------------------------------
$ 6,753 $ 2,910 $ 15,732 $ 8,350
Rendering
Restaurant Services 5,045 3,095 12,840 6,334
Corporate activities (4,949) (5,253) (13,197) (13,781)
Interest expense (700) (3,956) (5,971) (10,450)
--------- --------- -------- --------
Income (loss) from continuing
operations before income taxes $ 6,149 $ (3,204) $ 9,404 $ (9,547)
========= ========= ======== ========

September 28, December 29,
2002 2001
------------- ------------
Rendering $ 51,437 $ 56,847
Restaurant Services 13,871 14,779
Combined Rendering/Restaurant Services 62,083 64,155
Corporate Activities 36,062 23,298
-------- --------
Total $ 163,453 $ 159,079
======== ========

September 28, December 29,
2002 2001
------------- ------------
Linwood, MD .................... $ 4,300 $ -
Petaluma, CA ................... 497 497
Billings, MT ................... 421 421
Goldsboro, NC .................. 50 50
Esteem (Norfolk, NE) ........... - 1,200
Peptide (Norfolk, NE) .......... - 500
West Point, NE ................. - 118
Lynchburg, VA .................. - 100
Shelbyville, IN ................ - 62
Zanesville, OH ................. - 54
------- -------
$ 5,268 $ 3,002
======= =======

Three Months Ended Nine Months Ended
----------------------------------------------------------
September 28, September 29, September 28, September 29,
2002 2001 2002 2001
------------- ------------- ------------- -------------
Revenue .............................. $ 2,495 $ 3,545 $ 7,805 $ 10,474
Cost of sales and operating expenses . 2,307 3,249 6,933 9,466
Selling, general and administrative .. 63 63 198 191
Depreciation and amortization ........ 738 548 1,339 1,659
-------- -------- ------- --------
Total costs and expenses ............. 3,108 3,860 8,470 11,316
Operating and pretax loss, now
classified as loss from
discontinued operations .......... (613) (315) (665) (842)
Income tax benefit ................... 257 - 279 -
-------- -------- ------- --------
Loss from discontinued operations, net
of tax ........................... $ (356) $ (315) $ (386) $ (842)
======== ======== ======== ========

September 28, December 29,
2002 2001
------------ ------------
Credit Agreement:
Revolving Credit Facility ................. $ - $120,027
Term Loan (contractual amount of $60,713).. 74,037 -
Other notes .................................. 19 26
-------- --------
74,056 120,053
Less current maturities .................... 4,352 120,053
-------- --------
$ 69,704 $ -
======== ========

(a) Exhibits
None.
(b) REPORTS ON FORM 8-K
Current report on Form 8-K filed on September 26, 2002, attaching a press release announcing
that a search committee has been formed to select a successor to Denis J. Taura, Chief
Executive Officer of the Company.

1. I have reviewed this quarterly report on Form 10-Q of Darling International Inc.;
2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial information included in this quarterly
report, fairly present in all material respects the financial condition, results of operations and cash flows of
the registrant as of, and for, the periods presented in this quarterly report;
4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
a) designed such disclosure controls and procedures to ensure that material information relating to
the registrant, including its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this quarterly report is being prepared;
b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date
within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and
c) presented in this quarterly report our conclusions about the effectiveness of the disclosure
controls and procedures based on our evaluation as of the Evaluation Date;
5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the
registrant's auditors and the audit committee of registrant's board of directors (or persons performing the
equivalent function):
a) all significant deficiencies in the design or operation of internal controls which could adversely
affect the registrant's ability to record, process, summarize and report financial data and have
identified for the registrant's auditors any material weaknesses in internal controls; and
b) any fraud, whether or not material, that involves management or other employees who have a
significant role in the registrant's internal controls; and
6. The registrant's other certifying officers and I have indicated in this quarterly report whether or not
there were significant changes in internal controls or in other factors that could significantly affect internal
controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to
significant deficiencies and material weaknesses.

1. I have reviewed this quarterly report on Form 10-Q of Darling International Inc.;
2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial information included in this quarterly
report, fairly present in all material respects the financial condition, results of operations and cash flows of
the registrant as of, and for, the periods presented in this quarterly report;
4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
a) designed such disclosure controls and procedures to ensure that material information relating to
the registrant, including its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this quarterly report is being prepared;
b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date
within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and
c) presented in this quarterly report our conclusions about the effectiveness of the disclosure
controls and procedures based on our evaluation as of the Evaluation Date;
5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the
registrant's auditors and the audit committee of registrant's board of directors (or persons performing the
equivalent function):
a) all significant deficiencies in the design or operation of internal controls which could adversely
affect the registrant's ability to record, process, summarize and report financial data and have
identified for the registrant's auditors any material weaknesses in internal controls; and
b) any fraud, whether or not material, that involves management or other employees who have a
significant role in the registrant's internal controls; and
6. The registrant's other certifying officers and I have indicated in this quarterly report whether or not
there were significant changes in internal controls or in other factors that could significantly affect internal
controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to
significant deficiencies and material weaknesses.