Beam Enters Irish Whiskey

Dear Client: Beam Inc. has entered an agreement to purchase Cooley Distillery, the industry's only remaining independent Irish whiskey distillery. This marks Beam's entrance into the fast growing Irish Whiskey category, with sales and volumes up 22.3% and 21.1%, respectively, in the 52 weeks ending November 12 as measured by Nielsen scans. The purchase price is approximately $95 million on a debt-free basis. Cooley owns and produces the Kilbeggan, Connemara, Tyrconnell and Greenore brands. It currently sells about 250,000 9-liter