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| Kraft Foods Inc. |
| Three Lakes Drive, Northfield, IL 60093 * (847) 646-2000 |
| Business Description | The company is the largest branded food and beverage company headquartered in the United States and the second largest in the world, based on 2000 revenue on a pro forma basis for the acquisition of Nabisco |
| Offering Information Company has | ||||
| Trading As | KFT (NYSE) | Industry | Manufacturing (SIC 2041) | |
| Type of Stock Offered | Class A Common Shares | Filing Date | 3/16/2001 | |
| Domestic Shares Offered | 280,000,000 | Offer Date | 6/12/2001 | |
| Foreign Shares Offered | 0 | Filing Range | $27.00 - $30.00 | |
| Company Shares | 280,000,000 | Offer Price | $31.00 | |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.850 | |
| Gross Proceeds | $8,680,000,000 | Selling | $0.484 | |
| Expenses | - - | Reallowance | $0.100 | |
| Post-IPO Shares | 1,180,000,000 | Employees | 117000 | |
| Spun out from: | Philip Morris Companies Inc. | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| J.P. Morgan Securities Inc. | Co-manager | (212) 648-0517 |
| Morgan Stanley & Co. Incorporated | Co-manager | (212) 761-5900 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| UBS Warburg LLC | Co-manager |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1998 | 12/31/1999 | 12/31/2000 | 3/31/2000 | 3/31/2001 | ||
| Revenues | - | - | 27,311.000 | 26,797.000 | 26,532.000 | 6,460.000 | 8,367.000 |
| Income from Oper. | - | - | 3,535.000 | 3,579.000 | 4,012.000 | 929.000 | 1,092.000 |
| Net Income | - | - | 1,632.000 | 1,753.000 | 2,001.000 | 470.000 | 326.000 |
| E.P.S | - | - | 1.120 | 1.200 | 1.380 | 0.320 | 0.220 |
| Revenue Growth (%) | - | - | -1.88 | -0.989 | 29.52 | ||
| Net Income Growth (%) | - | - | 7.41 | 14.15 | -30.64 | ||
| Oper. Profit Margin (%) | - | - | 12.94 | 13.36 | 15.12 | 13.05 | 14.38 |
| Net Profit Margin (%) | - | - | 5.98 | 6.54 | 7.54 | 3.90 | 7.28 |
| Cash Flow - Oper. | 3,254.00 | - | - | ||||
| Cash Flow - Inv. | -16,138.00 | - | - | ||||
| Cash Flow - Fin. | 12,982.00 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/2001 | Financial Ratios | ||||
| Total Assets | 52,071.00 | Current Assets | 7,152.00 | Current Ratio | 0.94 |
| Total Liab. | 38,023.00 | Current Liab. | 7,590.00 | Debt Ratio | 73.02% |
| Total Equity | 14,048.00 | Working Cap. | -438.00 | Debt to Equity Ratio | 2.71 |
| Cash | 191.00 | Return on Assets | 0.63% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to retire a portion of our long-term notes payable to Philip Morris. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Hunton & Williams |
| Bank's Law Firm | Simpson, Thacher & Bartlett |
| Auditor | Price Waterhouse |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Philip Morris Companies Inc. | 100.00 | 49.50 |
| Note: represents ownership of 5% or more prior to the offering. | ||