Branded Products Group

• Separate segment focused on selling and marketing branded products

  • White Wave
  • Horizon Organic
  • Dean National Brand Group

• Reporting will begin Q1 2004

• Estimated 2004 revenue of $1.1 billion

• Estimated 2004 operating margins of 8-10%

• Marketing spending of approximately $210 million, versus $190 million in 2003

  • Targeted toward our largest and fastest growing brands

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