1. THE TRUE EXPRESSION OF ARGENTINEAN TERROIR

2. ARGENTINIAN WINE HISTORY The Argentinan wine industry is the fifth largest producer of wine in the world. Argentinian wine has its roots in Spain. During the Spanish colonization of the Americas, vine cuttings were brought to Santiago del Estero in 1557. Historically, Argentinian winemakers were traditionally more interested in quantity than quality with the country consuming 90% of the wine it produces. Argentinian wines started being exported during the 1990s, and are currently growing in popularity, making it now the second largest wine exporter in South America behind Chile.

3. ARGENTINIAN WINE HISTORY The most important wine regions of the country are located in the provinces of Mendoza, San Juan and La Rioja. Salta, Catamarca, Río Negro and more recently Southern Buenos Aires are also wine producing regions. The Mendoza province produces more than 80% of the Argentine wine and is the source of an even higher percentage of the total exports. Due to the high altitude and low humidity of the main wine producing regions, Argentine vineyards rarely face the problems of insects, fungi, molds and other grape diseases that affect vineyards in other countries. This allows cultivating with little or no pesticides, enabling even organic wines to be easily produced.

4. MENDOZA 80% of National Production ARGENTINIAN WINE COUNTRY ARGENTINA

5. MENDOZA WINE REGIONS MENDOZA CITY North Alt. 2,300 f./700 m. East Alt. 2,300 f./700 m. Maipú, East Alt. 2,500 f./760 m. Luján Maipú Alt. 2,950 f./900 m. Valle de Uco Centro Alt. 3,300 f/1,000 m. San Carlos Alt. 3,300-3,600 f/ 1000-1,100 m. San Rafael Alt. 2,300 f/ 700 m. Valle de Uco Oeste Alt. 3,600 – 4,900 f./900-1500 m. Sur Río Mendoza Alt. 3,300 f./1,000 m. Luján | Oeste Alt. 3,200 f./970 m.

6. Pre-phylloxera France, Malbec was up to 60% of planted vineyards in Bordeaux. Never adapted well, losing typical fruit expression. Malbec found new home, in own-rooted form, surviving on native roots due to traditional furrow irrigation method in Argentina. Robert Parker Jr. predicted that Argentinian Malbec would be the decade's next varietal success story…. Top 12 Prediction, food & wine magazine, October 2004 MALBEC MALBEC: ARGENTINA’S FLAGSHIP VARIETAL

7. 760 ha. In Valle de Uco and Luján de Cuyo were acquired and Doña Paula was born. First harvest. High quality grapes from our own vineyards. Super Premium wines with unique style. Claro group started an ambitious 7 years project of experimentation and development in Argentina, aiming the production of high quality still wines. With a mix of 97% Exports- 3% Domestic market Doña Paula is recognized as the fastest growing exporter in Argentina. Important investments took place in order to follow the main objective: the production of super premium still wines with unique style. SUCCESS STORY 19901999 2005 2003-Today 1997

8. THE WINERY QUALITY AND TECHNOLOGY A state-of-the-art winery, where our winemakers handcraft our international styled wines, divided by an innovative concrete Los Cardos cellar finished in 2007. More than 2,500 French and American oak barrels (Seguin Moreau, Taransaud, Allary, among others). Two pneumatic “Pera” presses, unique in South America, with cold maceration jackets and conductivity measure devices.

9. THE ARGENTINIAN EXPERIENCE

10. DOÑA PAULA OWNS 100% OF ITS VINEYARDS. NO CONTRACT WITH 3RD PARTY PRODUCERS, RESULTING IN MORE CONTROL OVER OUR WINES OWN RULES. OWN and UNIQUE STYLE! 703ha/1.740 acres planted in the best growing areas. DOÑA PAULA VINEYARDS “Bragging rights and marketing potential are part of the motivation for growing grapes at nosebleed heights….. Grapes develop tougher skins and can become more flavorful, aromatic and tannic when exposed to intense ultraviolet sunlight and greater day/night temperature differentials.” -USA Today

11. DOÑA PAULA VINEYARDS Finca El Alto (Ugarteche) Finca Los Cerezos (Tupungato) Finca Alluvia (Gualtallary) Finca Los Indios (Altamira) The Premium region of Luján de Cuyo. 435 ha/1.077 acres At more than 3.608 feet above sea level, surrounded by the Andes mountain. 53 ha/131 acres State of the art vineyard at more than 3.610 feet above sea level. 80 ha/198 acres Newly discovered area. One of the trendiest “high quality” vineyards region in Argentina today. 135 ha/334 acres

12. SUSTAINABLE AGRICULTURAL PRACTICES We never use any chemical product (pesticides and synthesized fungicides) if we consider it unnecessary. We fertilize only when is totally necessary. We keep the natural endemic plants and weeds in our soils if they are not insidious. To recover some low fertility patches in our vineyards, we use organic mulching and manures instead of using fertilizers. We do not expose our people to dangerous or risky products. We let NATURE spoil us. We have been working under sustainable practices since Doña Paula´s birth.

13. WINEMAKING TEAM David Bonomi was born and raised in Mendoza, Argentina in the slopes of the Andes Mountains. His passion for wine began when he was a child, as he spent most of his time at his father's vineyards, playing around the vines and absorbing the essence of the winemaking art world. His excitement grew with time and decided to study the career of Oenologist at the Don Bosco school of Viticultura and at Agustín Maza University. His experience includes works at prestigious companies such as: Gancia and Bodega Norton where he was in charge of the production and quality areas. David possesses a keen insight regarding Argentinean winemaking, vineyards, irrigation and elevation. He joined Doña Paula in 2004. Edgardo del Pópolo - Vineyards Director Born into a family with European roots (Italian -French -Spanish -German)he has always been near grapevines; his uncles and aunts being his first teachers when he was a boy. Edgardo Del Pópolo is an Argentine wine industry veteran and probably the most respected and frequently consulted Argentine viticulturalist, where he has worked since 1992. He studied Oenology and Agronomy, specializing in viticulture, at the Universidad Nacional de Cuyo in Mendoza, Argentina. He joined Doña Paula in 1998 as Head Viticulturalist and Operations Manager. His specialty is selecting the best suited sites for the different estates where Doña Paula produces its wines. Possessing a free spirit and a self-determined attitude, he has traveled the wine world visiting old and new world wine regions and the most important wine markets. David Bonomi - Winemaker

14. We are always exploring and investing in “new” high quality wine regions in Argentina. Continuous innovations in regards to vineyard management ensures the continuing quality of our wines. Bush Vines Alluvia Passo Corto Spring pruned DIVERSITY & INNOVATION Jay Miller of Wine Advocate said, ‘During my visit to the winery, I was impressed by the spirit of experimentation and willingness to try new and different approaches’.

15. International recognition for current vintages 12 times +90 pts for current vintages! (Wine Spectator, Wine&Spirits, etc) Twice recognized as “New World Value” (Wine Spectator) Sauvignon Blanc Los Cardos is one of the most recognized SB from Argentina!! ACCOLADES A FAITHFUL EXPRESSION OF THE BEST OF ARGENTINIAN WINES.

16. DOÑA PAULA-THE PORTFOLIO

17. STYLE LOS CARDOS Fresh, clean and crispy fruit. Varietal character. Easy to drink, for every occasion. CHARACTERISTICS ESTATE Estate Grown. The purest varietal expression in a complex environment. Varietals: Malbec, Cabernet Sauvignon Torrontes, Chardonnay Oak: 8 months 80% French Yield: 0.75 plant/bottle Varietals: Malbec, Cabernet Sauvignon, Chardonnay, Sauvignon Blanc Yield: 0.5 plant/bottle SELECCION DE BODEGA Muti-dimensional wines. The HIGHEST expression. Varietals: Malbec Oak: 18 months New French Yield: 2 plants/bottle DOÑA PAULA --PORTFOLIO

18. LOS CARDOS

19. SAUVIGNON BLANC This fresh, attractive and vigorous Sauvignon Blanc shows intense aromas of yellow grapefruit, lime and passion fruit, that are well integrated with gooseberry and herbal notes. On the palate is a wine great freshness and very long very long after taste. Región: Tupungato, Uco Valley Variedad: 100% Sauvignon Blanc At Doña Paula our vineyards have been managed using Sustainable Agriculture practices. The grapes for this wine come from 44 acres planted between 2000 and 2002 in our Finca Los Cerezos Estate in Tupungato with some very well reputed French clones (316, 242, 530 and 108), grafted on three different rootstocks: 1103P, 3309 and 110R. The vine spacing is 2.2 meters by 1.6 meters with strictly observed vertical shoot positioning and both spur and cane pruning. Canopy management tends to create an even and medium vigorous canopy in order to protect the bunch zone from excessive sun exposure. Yields range from 4 to 5 tn/acre. All the stems of the grapes were removed. Reductive process using antioxidant sulfur dioxide and inert gas blanketing. Temperature reduction immediately after crushing in order to preserve flavors and aromas and reduce the level of SO2. Skins remain in contact with the juice from 8 to 16 hours at 5ºC. Pneumatic pressing separating two press fractions, according to polyphenol richness by conductivity and juice tasting. This wine is produced in stainless steel tanks with cooling jackets and without contact with oak. Fermentation temperature ranges from 12 to 14°C. 85% of the wine in the stainless steel tanks has been in contact with the lees for 2 months at 10ºC. LOS CARDOS DESCRIPTIÓN VINEYARDS VINIFICATION WINEMAKER`S TASTING NOTES

20. CHARDONNAY LOS CARDOS DESCRIPTIÓN VINEYARDS VINIFICATION WINEMAKER`S TASTING NOTES Our Los Cardos Chardonnay 2009 shows a golden color with green hues. Its aromas of tropical fruits, pineapple, banana and pear combine with fresh citrus notes. On the palate, it has balanced acidity and white peach notes that give a long and persistent finish. Región: Blend of Chardonnays from Finca El Alto (Ugarteche) and Finca Los Cerezos (Tupungato) Variedad: 100% Chardonnay This wine is produced with grapes mainly coming from our vineyard planted in 1998 in Finca El Alto (Ugarteche) blended with a smaller portion from Finca Los Cerezos (Tupungato). El Alto grapes provide typical tropical fruits and peach notes together with a long feeling in the mouth, while Tupungato grapes contribute with floral and citrus expressions and bright, natural acidity. Mostly French and some Italian clones were planted to create complexity in our wines. At Doña Paula, our vineyards have always been managed using sustainable agriculture practices. All the grapes are destemmed and pressed in our pneumatic “chilled jacket” Pera press, seeking to obtain non- phenolic juice. The winemaking process is a combination of reductive (free of oxigen) and oxidative methods in order to get different juices that will finally be blended. Alcoholic fermentation takes place in small stainless steel tanks at low temperatures. In order to preserve the natural primary aromas, only 15% of the wine is in contact with oak. Malolactic fermentation is avoided to preserve high and fresh acidity, while 85% of the wine remains in lees contact at 10ºC during 2 months in order to provide a larger feeling in the mouth.

21. CABERNET SAUVIGNON This Cabernet Sauvignon shows an intense red color. Ripe, red fruit can be found along with the complexity provided by mint notes and cassis. In the mouth, it has great body and an interesting tannic structure. It´s balance and concentration provide a lingering finish. Región: Ugarteche, Luján de Cuyo. Variedad: Cabernet Sauvignon 100% The grapes for this wine come from a combination of different blocks, carefully selected from specific Doña Paula’s 10 year old vineyards, from our Finca El Alto Estate in Ugarteche. A selection of French clones such as 169 and high quality local mass material are used. Vines are cultivated in a vertical trellising system with high density and drip irrigation. Production ranges between 9 and 10 tn/ha. At Doña Paula our vineyards and wines have always been managed using Sustainable Agriculture practices. 100% hand picked grapes are completely distemmed and then partially crushed. As a consequence, some berries remind untouched providing carbonic maceration character to the wine. Must is cooled immediately after crushing in order to maintain flavors and aromas, by reducing the level of SO2 needed. Carbon dioxide gas is dispersed over the must to prevent oxygen from being in touch with the juice. 48-hour cool pre-fermentation maceration is performed to extract primary flavors and color. Alcoholic fermentation takes place in temperature controlled tanks, for a period of 10 days and at 22°C with peaks of 28°C. Total maceration period is 15 days. Natural malolactic fermentation takes place at 16°C. No press wine is added. LOS CARDOS WINEMAKER`S TASTING NOTES DESCRIPTIÓN VINEYARDS VINIFICATION

22. MALBEC Our Los Cardos Malbec presents a typical violet-red color. Its aromas of fresh red and black fruits, berries, spices and cigar box announce a smooth and round wine in mouth. Región: Alto Ugarteche, Luján de Cuyo Variedad: Malbec 100% The blending components of this wine are grapes coming from our vineyards in Finca El Alto in Ugarteche, Luján de Cuyo, and a smaller portion from our high altitude vineyards in Uco Valley. In terms of clonal material, we prefer our extraordinarily adapted mass selection to the highly producing imported French “Cot” clones. Double spur pruned cordon with 2 shoots per spur and an average of three clusters per bunch provide a regular yield of 9 to 10 tones per hectare. At Doña Paula our vineyards and wines have always been managed using Sustainable Agriculture practices. 100% hand picked grapes are completely destemmed and then partially crushed. As a consequence, some berries remind untouched providing carbonic maceration character to the wine. Must is cooled immediately after crushing in order to maintain flavors and aromas, by reducing the level of SO2 needed. Carbon dioxide gas is dispersed over the must to prevent oxygen from being in touch with the juice. 48-hour cool pre-fermentation maceration is performed to extract primary flavors and color. Alcoholic fermentation takes place in temperature controlled tanks, for a period of 10 days and at 22°C with peaks of 28°C. LOS CARDOS WINEMAKER`S TASTING NOTES DESCRIPTIÓN VINEYARDS VINIFICATION

23. ESTATE

24. CHARDONNAY Our Doña Paula Estate Chardonnay has an eye-catching golden yellow color. Its mineral character and tropical fruits as well as pear and citrus notes, make it complex and fresh. In mouth, it is ample and generous with a clean, long lasting finish. Región: Finca El Alto, Ugarteche, Luján de Cuyo Variedad: 100% Chardonnay This wine comes from old chardonnay vines, planted in 1971 and grafted in 1984. These are our most valuable assets, since they present the optimal possible integration between a low yielding R8 chardonnay and the Mendocino clone (widely planted in the majority of the wine growing regions of the world), well known for its small “hen and chicken” clusters that provide incredible honey aromas and concentration of flavours. At Doña Paula our vineyards and wines have always been managed using Sustainable Agriculture practices. The grapes are pressed in a state-of-the-art pneumatic Pera press. According to the phenolic content in the skins and the ripeness level, some bunches are pressed with stems while others are separated from them. From the beginning of the process, we add SO2 and CO2 in order to avoid oxidation. The must is cold and yeasted in stainless steel tanks. Aftewards, 70% of the must is racked into French (70%) and American (30%) new oak barriques at 18º brix, where it performs alcoholic fermentation. Malolactic fermentation is controlled, happening in only 10% of the wine. Ageing is performed in the same barriques during 6 months, where battonage is done in the first 4. ESTATE WINEMAKER`S TASTING NOTES DESCRIPTIÓN VINEYARDS VINIFICATION

25. TORRONTES Our Doña Paula Estate Torrontés has a golden yellow attractive color. Intense and delicate jasmine, white acacia, white rose petals and azahar notes. Fresh and lovely mouthfeel, where acidity and freshness are in perfect balance. Persistent floral aftertaste Región: Valle de Cafayate, Salta. Variedad: 100% Torrontés In Cafayate Valley at 1700 meters asl (5600 feet), this variety finds the best place to produce the most charming floral aromas. From old high trellised in Spanish “parrón” vines, this beautiful example of aromatic Torrontés is produced. Planted in sandy and stony soil, caned pruned and furrow irrigated with snowmelt water from the Northern Argentinean Andes. The grapes are harvested in April when the skins turn from green to eye-catching gold and transported to the winery in 20 kg baskets. The stems are taking apart from the berries in a very gentle process, where SO2 is added to avoid oxidation. In this wine we are not using skins, so they are not pressed and the juice is fermented to make a drop wine in small steel and concrete vats at low temperatures. Blend of different harvesting times is made before the final adjustments, stabilization and filtration. ESTATE WINEMAKER`S TASTING NOTES DESCRIPTIÓN VINEYARDS VINIFICATION

26. CABERNET SAUVIGNON This wine is one of our best examples of well integrated oak, where expression of fruit, elegance and richness are the main attributes. With a red violet color, the aromas of our Doña Paula Estate Cabernet Sauvignon present black fruits, blackcurrant and bell pepper, combined with spice box and graphite notes in different layers. It is medium bodied, with fresh acidity and a pleasant finish. Región: Finca El Alto, Ugarteche, Luján de Cuyo Variedad: 100% Cabernet Sauvignon Finca El Alto soils and climate allow our French clones of Cabernet Sauvignon to reach perfect phenolic ripeness. The unmistakable typical character of this wine comes from the blend of clones form different blocks, #1, #8 and #12. The vines produce low yield levels (7 to 8 tn/ha - 2,5 to 3,6 tn/acre), and are conducted in vertical shoot positioned trellising system. At Doña Paula our vineyards and wines have always been managed using Sustainable Agriculture practices. This is probably the only variety where the winemaking philosophy is traditional. Once stems are removed, crushed grapes are pumped to small steel tanks where the fermentation will take place. After a short cool maceration, this wine is fermented with daily pumping over to extract color, fruit aromas and ripe tannins. It is aged in French barrels (33% new) for a period of 10 to 12 months. ESTATE WINEMAKER`S TASTING NOTES DESCRIPTIÓN VINEYARDS VINIFICATION

27. MALBEC Intense violet colour, plums, black cherries, licorice and dried herbs basket aromas in the nose. Sweet, round and ample in the mouth with a lingering finish. Región: Finca El Alto, Ugarteche, Luján de Cuyo Variedad: 100% Malbec Finca El Alto is the largest single vineyard malbec planted in Luján de Cuyo region with 197 hectares (487 acres) planted between 1969 and 2007. Most of our production is coming from adult vineyards trellised in double spur pruned cordon at medium to high vine´s density (1852 to 3636 vines per hectare). Clay soils perform good structure in our wines and this is our aim in this Estate malbec: richness, elegance, balance and bright fresh fruits aromas, all of them, capable to express the Upper Mendoza river´s sense of place. At Doña Paula our vineyards and wines have always been managed using Sustainable Agriculture practices. Carefully and gentle desteming with partial berries crushing with the purpose to provides fresh berry aromas. Cool pre-fermentation maceration for 2 weeks to extract primary aromas, flavors and intense color under non-alcoholic phase. First part of the fermentation takes place under wild yeast culture and is finished inoculating selected yeast. Fermented at 25ºC, keeping the freshness the wine is after racked to new, second and third use French barrels (33% of each one) where the wine is aged during 8 months before being bottled. ESTATE WINEMAKER`S TASTING NOTES DESCRIPTIÓN VINEYARDS VINIFICATION

28. SELECCIÓN DE BODEGA

29. MALBEC WINEMAKER`S TASTING NOTES Intense deep violet colour; clean aromas of black-acid forest berries, pencil lead, graphite notes, black cherry, moka and spice box. It is probably the until now “best” and one of the most structured versions of our Icon malbec, keeping intact its elegance, finesse and mulctilayered expression. DESCRIPTIÓN Región: Blend of the best grapes from Ugarteche & Uco Valley Variedad: Malbec 100% VINEYARDS This wine is an evolution of our Single Vineyard malbec that comes 100% from our 40 years old vines in Ugarteche, and a blend of some of the best malbec blocks we found walking across the Uco Valley region. The old vineyards have not been managed to obtain lower yields, so the crop level is naturally and wisely in balanced by the vine itself. Multivineyard blend of best blocks where Finca El Alto Ugarteche (Calix block 0,8 tn/acre) togheter with some old high density planted vineyards located in El Cepillo ( 6 acres-50 years old- 2 tn/acre, Altamira( 7,5 acres- 60 years old- 2 tn/acre), and Los Arboles ( 9 acres- 10 years old- 4- 2,8 tn/acre). Harvest took place later than in previous vintages, thus leading to an extra dimension in terms of richness and concentration. At Doña Paula our vineyards and wines have always been managed using Sustainable Agriculture practices. Cold maceration before alcoholic fermentation in the Doña Paula style, seeking to preserve primary fruit aromas. Wild fermented by native yeasts at low temperatures and aged in 100% new French Taransaud barriques to 24 months. This wine is unfinned and unfiltered. VINIFICATION

30. PACKAGING Seleccion De Bodega Upscale ESTATE Modern Elegance Los Cardos Fresh visibility Focus: pallet program/floor display

31. CATEGORY DATA

32. COUNTRY OF ORIGIN PERFORMANCE Argentina is the #4 Import Country of Origin in Retail and posted the FASTEST GROWTH ! Source: Nielsen Scan Data US Food 24 Weeks ending 01//08/11

33. VARIETAL PERFORMANCE Dona Paula wines have offerings in the top Argentinian varietal growth segments: Malbec is up +57% Cabernet Sauvignon is up +9% Chardonnay is up +3% Torrontes is up +53% Source: Nielsen Scan Data US Food 24 Weeks ending 01//08/11

34. PRICE SEGEMENT PERFORMANCE Based on scan data, All Argentinian price segments posted double digit growth: $9-11.99 is up +49% $12-14.99 is up +59% Over $15 is up +46% Los Cardos ($9.99 SRP) Estate ($14.99 SRP) Selecion de Bodega ($50 SRP) Source: Nielsen Scan Data US Food 24 Weeks ending 01//08/11

35. PRICE PERFORMANCE ($9-11.99) Argentinian wines in the $9-11.99 price point are growing at nearly 50% Only Terrazas shows signs of slowing growth, though still positive Alamos posted 77% growth and has 33% of the category, the largest share in the segment The top 5 brands comprise 63% of the $9-11.99 volume share Source: Nielsen Scan Data US Food 24 Weeks ending 01//08/11

36. PERFORMANCE BY PRICE ($12-14.99) Aregentinian wines in the $12-14.99 price points are growing at nearly 60% All top 5 brands are growing at double digit rates. The top 5 brands comprise nearly 70% of the 1$2-14.99 volume share. Source: Nielsen Scan Data US Food 24 Weeks ending 01//08/11

37. PERFORMANCE BY PRICE ($15.00 +) The $15 and above price segment is growing at 46% With the exception of Terrazas, the top five brands are experiencing double digit growth. The top 5 brands comprise 66% of the $15+ Argentinian category. Source: Nielsen Scan Data US Food 24 Weeks ending 01//08/11

38. ARGENTINA ON PREMISE TOP PERFORMERS Alamos,Catena,Traipiche and Terrazas are top performers in both On and Off premise listings. Alta Vista has the largest number of listings by far, driven by the lowest price per glass. 7 of the top 10 brands have BTG pricing at $8.00 or above. Argentina BTG Producers RankProducer # of Listings 1Alta Vista79 2Alamos28 3Trapiche16 4Bodegas Escorihuela14 5Catena Zapata7 6Terrazas de los Andes6 7Kaiken5 8Tilia5 9Pascual Toso4 10Sophenia, Finca3 Source: Winemetrics Data 2010

39. COMPETITIVE SET—LOS CARDOS

40. COMPETITIVE SET—ESTATE

41. COMPETITIVE SET—SELECCIÓN DE BODEGA

42. DOÑA PAULA PRODUCT SPECS

43. NEW UPC AND PRODUCT SPECS NEW TRINCHERO UPC and SCC Codes: NEW

44. PREVIOUS UPC AND PRODUCT SPECS CURRENT / IN MARKET UPC and SCC Codes:

45. THE TRUE EXPRESSION OF ARGENTINEAN TERROIR