Currency Guidance

In order to help analysts and investors estimate the impact of changing exchange rates on sales and earnings, the Company provides an annual 'currency sensitivity guide', alongside the rates upon which its earnings guidance is based.

The latest guide, intended to help estimate the impact of currency movements for 2012, is an update of the 2011 guidance given in January 2011.

As a reminder, the Company's currency sensitivity guidance provides the estimated impact on sales and earnings of a 10% strengthening of our Main Currencies (sterling, euro, Swedish krone, Japanese yen), plus a basket of Other Currencies to which we are exposed, against the US dollar.

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The 2012 guide is provided on the same basis as the 2011 guide and as with last year, the Company has quantified the relative movement of the basket of Other Currencies when looking at full year 2011 average exchange rates and the January 2012 average rates (to 31st Jan) upon which its 2012 guidance is based.