1. FMCG Categories Evolution within the Off-Premise Channel Sinaia, 11th of March 2004

2. Agenda  FMCG Market.  Food Market.  Non-Food Market.  Highlights.

3. FMCG Market

4. 4 OUTLET TYPES  SUPERMARKET  LARGE GROCERY  SMALL GROCERY  FOODSTORE  GENERAL STORE  KIOSK  COSMETIC SHOP  CHEMICAL SHOP  PHARMACY

5. 5 FOOD CATEGORIES FATS Þ BUTTER Þ MARGARINE Þ EDIBLE OIL BEVERAGES Þ COFFEE Þ BEER Þ BRANDY Þ WINE Þ SPARKLING WINE Þ VERMOUTH Þ BITTER OTHER FOOD Þ BREAKFAST CEREALS Þ COCOA Þ CHOCOLATE Þ KETCHUP Þ PET FOOD Þ SEASONINGS Þ DEHYDRATED SOUPS Þ BOUILLON Þ YOGHURT Þ SALTED SNACKS Þ PEANUTS Þ SEEDS

6. 6 NONFOOD CATEGORIES DETERGENTS Þ DETERGENTS Þ DISHWASHING PRODUCTS Þ FABRIC SOFTENERS COSMETICS/PERSONAL CARE Þ FEMININE CARE Þ FACIAL SKIN CARE Þ FRAGRANCES (including AFTER SHAVE) Þ TOILET SOAPS Þ BATH FOAMS & SHOWER GELS Þ DEODORANTS Þ SHAMPOOS OTHER NONFOOD Þ BABY DIAPERS Þ AIR CARE Þ INSECTICIDES Þ TOILET CARE Þ FURNITURE CARE

7. 7 FOOD vs. NONFOOD FMCG MARKET (FOOD & NONFOOD) +1.5% -1.5% -3.3% +3.3%

8. 8 Categories Evolution (Year02 vs Year01 and Year03 vs Year02) FMCG MARKET (FOOD & NONFOOD)

9. 9 Group of Categories’ Shares within the FMCG Market FMCG MARKET (FOOD & NONFOOD) +3.1% -0.2% -1.6% -0.1% -0.3% -1.0% +4.2% -0.2% -0.3% -0.6% -1.4% -1.7%

10. 10 Turnover Distribution by Outlet Type FMCG MARKET (FOOD & NONFOOD) +1.1% +1.0% +1.4% -0.1% -0.3% -2.8% +1.0% +0.2% -0.6% -1.8%

11. 11 Market Development by Outlet Type (Year02 vs Year01 and Year03 vs Year02) FMCG MARKET (FOOD & NONFOOD)

12. FOOD Market

13. 13 Turnover Distribution by Outlet Type FOOD MARKET +0.8% +1.0% +1.5% -0.3% +0.2% -3.2% +0.5% +0.7% +1.0% -0.2% +0.2% -2.4%

14. 14 Market Development by Outlet Type (Year02 vs Year01 and Year03 vs Year02) FOOD MARKET

15. 15 Fats vs. Beverages vs. Other Food FOOD MARKET +2.7% -2.6% +2.9% -1.4% -0.2% -1.5%

16. NON-FOOD Market

17. 17 Turnover Distribution by Outlet Type NONFOOD MARKET +2.7% +1.6% +0.1% -1.4% -1.7% +3.0% +1.6% -0.6% -1.5% -1.6% -0.4% -0.1% -0.7% -0.3% -0.6%

18. 18 NONFOOD MARKET Market Development by Outlet Type (Year02 vs Year01 and Year03 vs Year02)

19. 19 Detergents vs. Cosmetics/Personal Care vs. Other Non-Food NONFOOD MARKET +1.3% -1.9% +0.6% -0.7% -0.4% +1.1%

20. 20 HIGHLIGHTS (I) FMCG MARKET The FMCG market (including both Food and Non-Food categories) increased by 10.9% in volume terms (sold pieces) in the year 2003 compared to the year 2002. The increasing trend was mainly due to the Food categories that increased by 12.9% (continuing the increasing trend of 3.0% in the year 2002 compared to the year 2001) whilst the Non-Food categories showed a slight increase (+0.4%) during the same period, after a decrease of 5.0% in the year 2002 compared to the year 2001. With regards to the sales value in EUR, the FMCG market increased at a lower rate (+6.0%) compared to the increase in volume in the year 2003 compared to the year 2002. Only the Food market increased (+10.8%) during this period whilst the Non-Food market experienced a decrease (-6.6%). The Food market increased also in the year 2002 compared to the year 2001 (+4.5%) whilst the Non-Food market showed the opposite trend during that period (-5.4%). The highest increase of the FMCG market in the year 2003 compared to the year 2002 was noticed within Supermarkets (+27.5% in volume terms and +16.4% in EUR terms). The FMCG market increased in both sales volume and sales value terms also within Large Groceries (+19.2% in volume and +12.8% in value), Small Groceries (+14.7% in volume and +8.9% in value) as well as Foodstores (+9.7% in volume and +8.8% in value) during the same period.

21. 21 HIGHLIGHTS (II) FMCG MARKET The Small Groceries are still the most important outlet type for the FMCG market, counting in the year 2003 for 41.3% turnover in volume terms (+1.4% points compared to the year 2002) and 36.9% in EUR terms (+1.0% points compared to the year 2002). The FMCG market decreased on a year-to-year basis within this channel in actual volume terms in the year 2002 compared to the year 2001 (-0.5%) but increased in the year 2003 compared to the year 2002 (+14.7%). In actual EUR terms, the FMCG market experienced the same trends (a decrease of 2.9% in the year 2002 compared to the year 2001 followed by an increase of 8.9% in the year 2003 compared to the year 2002). Kiosks are still ranked second as turnover within the FMCG market, but their importance is decreasing over time, reaching in the year 2003 a share of 16.2% in volume terms (-2.8% points compared to the year 2002 and -3.4% points compared the year 2001) and 12.9% in value terms (-1.8% points compared to the year 2002 and -2.8% points compared to the year 2001). The FMCG market decreased on a year- to-year basis within Kiosks in actual volume terms in the year 2003 compared to the year 2002 (-5.1%), continuing the decreasing trend showed in the year 2002 compared to the year 2001 (-0.3%). The market decreased at a higher rate in actual value terms (-5.0% in the year 2002 compared to the year 2001 and -6.8% in the year 2003 compared to the year 2002).