1. Sweden: German wines steadily growing 1 sep 2010

2. Presentation 1st september Overall market sentiment Crisis not over…. -(but) Sweden in healthy state compared to others in Europé Sales not affected in food and drinks sector (monopoly and LEH) Restaurants feeling low sales (companies not entertaining) Beerkegs and ready to drink items increasing (cocooning factor) Retail sales to increase liqour sales in western Europe (source: Euromonitor survey) National elections in end of September - conservatives promising tax hike on alcohol

3. Presentation 1st september Sales 2005-2009

4. Presentation 1st september Value vs Volume ”Sales volume and value of German wine in Sweden is growing steadily,” – Mats Olauson, chief buyer German wines, Systembolaget Volume increase for German wines the past 12 months (rolling): +6,57% Value increase for German wines the past 12 months (rolling): +6,67%

5. Presentation 1st september Sales Sweden 2008-2009 white wines Source: Systembolaget Market share Country 2008 2009 Chg % 2009 2010 South Africa Germany Australia Italy France Spain Chile Hungary USA Argentina Bulgaria New Zeeland Austria Portugal Cyprus Greece Romania Other Sum

6. Presentation 1st september Sales 2010 including July Source: Systembolaget Market share Country 2009 2010 Chg % 2009 2010 South Africa Germany Australia Italy France Spain Chile Hungary USA Argentina Bulgaria New Zeeland Austria Portugal Cyprus Greece Romania Other Sum

7. Presentation 1st september Germany price brackets sales including July for 2010 Source: Systembolaget SEK Share of total 2008 2009 Volume 2008 2009

8. Presentation 1st september Sales of red wine at Systembolaget Year Red wine sales are increasing…… Source: Systembolaget

9. Presentation 1st september Sales of white wine at Systembolaget Year …..and so does White! Source: Systembolaget

10. Presentation 1st september General trends Trends in the Swedish marketplace -> effects on tenders at the Systembolaget Health more important (weight loss etc) -> Low alcohol launches and smaller packaging are expected to increase Consumer interest in ”green packaging” increasing -> Winebag, PET and tetra thought to increase (CSR issues)

11. Presentation 1st september Bag in box – here to stay Little or no movement in sales of Bag in Box in relation to bottles Bag in box sales of total volume: - Red 58,18% - White 56,76% - Rosé 42,98%

12. Presentation 1st september Is the bottle disappearing ? Source: Systembolaget Sales per package type at Systembolaget Bottle Box Other carton Wine bag Year

13. Presentation 1st september Going green….? Source: Systembolaget Sales of ecological wine at Systembolaget 1000 litres

14. Presentation 1st september General trends (continued) Trends in the Swedish marketplace -> effects on tenders at the Systembolaget Ecological products increasing (higher Ready to drink products (Drink mixes) to increase (cocooning increasing) Luxury items and sparkling wines to increase (indulgement in recession). New countries regions and grape varieties will also increase

15. Presentation 1st september Party over….? Source: Systembolaget Sales of sparkling wine at Systembolaget 1000 litres

16. Presentation 1st september Consumer profiles in Sweden Source: Systembolaget 1. Cautious traditionalists 2. Curious Males 3. Sophisticated connaiseurs 4. Pluralistic connaiseurs 8. Joie de vivre without prestige 6. Social explorers 7. Mr & Mrs Bargainhunters 5. Eco-assurancers

17. Presentation 1st september What does people think of the monopoly? Consumers index 78 (very high marks) Red wine assortment 80 White wine assortment 79 People in general are very satisfied customers!

18. Presentation 1st september Thank you for listening!