LTDI Net Income Up 245% in February

March 24, 2000 PSE CIRCULAR FOR BROKERS NO. 770-00 LTDI Net Income Up 245% in February Fueled by a 51% increase in liquor volumes, La Tondea's sales revenues for February posted a record growth of 59%, versus year-ago levels. Consequently, operating income increased from P120 million a year ago to P257 million, or a 114% improvement. Notably, net income increased from P40.5 million a year ago to P139.6 million, or a 245% growth. The favorable volume increase was led by strong liquor sales. The Company's flagship product Ginebra San Miguel accounted for the bulk of the liquor volume growth. Impressive volumes were likewise registered in the company's non-liquor businesses. Despite a weak industry performance for bottled water, the Company posted a 42% volume increase in this segment. The integration of the newly acquired Wilkins Distilled Drinking Water brand with its VIVA! Mineral Water brand has yielded synergies, particularly in the area of distribution and trade asset management. As a result of the combined brands, the Company has been consistently increasing its market share from 49% shortly the acquisition to 54% by end 1999 and 56% as of end February. In its juice business, La Tondea also posted a significant increase of 28%. The volume increase, led by bestseller FunChum Juice, was attributed to the numerous activities coming at the end of the current schoolyear.