Press release 25 July 2008
Ministry of Finance
Ministry of Enterprise, Energy and Communications

The Swedish State Divests the Beam Shares and Finalises the Vin & Sprit Sale for SEK 58 bn

Following the closing of the sale of Vin & Sprit yesterday to Pernod Ricard, the Swedish State has agreed on the terms of Fortune Brand's repurchase of the shares in the American liquor company Beam (Beam Global Spirits & Wine, Inc).

The aggregate purchase price paid by Fortune to the Swedish state for its 10 per cent stake in Beam is SEK 2.8 billion (appr. USD 460 million). Together with the SEK 55 billion that the Swedish State previously has received from Pernod Ricard S.A. for the shares in Vin & Sprit, the total value for the Vin & Sprit assets corresponds to 58 billion SEK.

- It is with great pleasure I can establish that we have now finalized the sale of V&S with an outstanding result for the Swedish taxpayers. The payments will be used to amortize the Swedish national debt in foreign currency. Resources are thereby released that can be used for more important needs, while Vin & Sprit is given a new, industrial home, says Minister for Local Government and Financial Markets Mats Odell.

The settlement of the Beam transaction is in accordance with the binding valuation made by an independent expert in accordance with the Shareholders and Registration Rights Agreement previously entered into by the parties. Fortune Brands already holds 90 per cent of Beam and hereby becomes the sole owner of Beam. The transaction is closed.