United Breweries Limited Year Briefing – April 05-March 06 Presentation May 2006

Key Highlights – 12 months Volume growth of 19% and 22% in UBL & in the combined business respectively and continues to outperform the industry Record sales for Kingfisher lager >20m Kingfisher strong reaches No1 position in strong beer segment, sales >17m Out beats Industry growth of 14% (1051 mio against 918 mio) Market share as on March 06 40% (combined 50.3%) Margins up from 13% to 20% of NSR Two fold increase in EBITDA and three fold increase in PAT Stock split announced

Summary P & L Rs.16.46 cr 3% Volume Increase Rs.55.97 cr 10% Realisation increase Rs.16.46 cr 3% Volume Increase Rs.55.97 cr 10% Interest income Reduction Rs.9.57 cr (2%) Input cost reduction Bottles Rs.9.78 cr 2% Other cost Increase Rs.14.48 cr (2%) PBIDT % margin for 31.3.05 10% on the NSR of Current year Hence net increase is 10%

Summary Balance Sheet

Key Ratios

Key Drivers of Performance Volume growth Implementation of price increase in key states Reduction in cost of sales driven by bottle cost Synergized operation between UBL & MAL

Growth Chart

Market Share

Average Realization and Cost of sales Realization drivers: Andhra – Price revision after 7 years Kerala – Price revision after 4 years Delhi – Matched Kerala prices Rajasthan – Auction market to Govt. distribution, policy changes Rationalization of market spends consequent net retention increase Aggressive price revision to offset bottle cost push Cost Drivers: Rationalization in bottle prices Optimization of Power & inputs costs Synergy of operation – economies of Scale

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