Table of Contents

Letter to Shareholders

Q & A - On the Journey... with Bob Lawless

Financial Highlights

Key Initiatives

The Multiple Management Story

Directors and Officers

Management's Discussion and Analysis

Financial Information

Investor Information

Business Description

McCormick is a global leader in the manufacture, marketing and distribution of spices, herbs, seasonings and other flavors to the entire food industry. Customers range from retail outlets and food service providers to food manufacturers. Founded in 1889 and built on a culture of Multiple Management, McCormick has approximately 7,500 employees.

Vision Statement

McCormick will be the leading global supplier of value-added flavor solutions. Building on strong brands and innovative products, we will be the recognized leader in providing superior quality, value and service to customers and consumers around the world.

Values

The people of McCormick are our “key ingredient.”

    Ethical behavior

    Teamwork

    High performance

    Innovation

    Concern for one another

= Success

This year’s annual report is scented with nutmeg – the dried, aromatic seed of an apricot-like fruit. McCormick imports nutmeg from Indonesia and other tropical locations. Piney and citrus-like flavors combine with sweet and bitter tastes to provide nutmeg's distinctive flavor.

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McCORMICK & COMPANY 2006 ANNUAL REPORT

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