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Fortune Brands Announces Preliminary Results Of Tender Offers

Fortune Brands, Inc. (NYSE:FO) today reported preliminary results for its previously announced tender offers (the "Tender Offers") for up to an aggregate purchase price of $1 billion of its outstanding Notes listed in the table below. Fortune Brands also announced today that it has increased the maximum aggregate purchase price of Notes that may be purchased in the Tender Offers from $1 billion to $1.05 billion.

Fortune Brands further announced that withdrawal rights with respect to the Tender Offers expired at 5:00 p.m. New York City time on August 10, 2011 (the "Withdrawal Deadline").

As of 5:00 p.m., New York City time, on August 10, 2011 (the “Early Tender Date”), Fortune Brands had received tenders of Notes as follows:

Notes   CUSIP Number  

Principal Amount Outstanding

 

Principal Amount Tendered

  Acceptance Priority Level   Fixed Spread (Basis Points)   U.S. Treasury Reference Security
5.375% Notes due 2016 349631AL5 $950,000,000 $657,110,000 1(a) 90 1.5% due June 30, 2016
8.625% Debentures due 2021 349631AD3 $90,986,000 $31,600,000 2 210 3.125% due May 15, 2021
7.875% Debentures due 2023 349631AE1 $150,000,000 $35,873,000 3 230 3.125% due May 15, 2021
4.875% Notes due 2013 349631AK7 $300,000,000 $117,390,000 4 100 0.375% due June 30, 2013
6.375% Notes due 2014 349631AP6 $500,000,000 $254,933,000 5 90 0.625% due July 15, 2014
6.625% Debentures due 2028 349631AG6 $200,000,000 $41,150,000 6 185 4.75% due February 15, 2041
5.875% Notes due 2036 349631AN1 $300,000,000 $106,497,000 7 185 4.75% due February 15, 2041
 

(a) Subject to a limit of $550 million principal amount (increased from $500 million).

Holders who validly tendered and did not validly withdraw their Notes on or prior to the Early Tender Date, and whose Notes are accepted for purchase by Fortune Brands, will be entitled to receive the Total Consideration for such Notes, which will be determined as set forth in Fortune Brands' Offer to Purchase dated July 28, 2011 (the “Offer to Purchase”), and which includes an Early Tender Payment of $30 per $1,000 principal amount of Notes accepted for purchase. Holders of Notes that are validly tendered after the Early Tender Date and at or before the Expiration Date will not receive the Early Tender Payment.

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