Today, we’re building on a proven track record of success, a strong commitment to share owners in a clear operating framework that guides our company. We also are focused on capturing the growth opportunities before us and importantly doing so in the right way.

Since our transactions in 2010, almost exactly two years ago right now, we have unlocked significant share owner value and we've established a company that is clearly focused on driving growth and creating additional value for both our customers and our share owners. And let's take a quick look at the scope of CCE today.

We are company with 2011 net sales of $8.3 billion. We serve about 170 million consumers across seven countries and one principality who consume more than 30 billion servings of our products each year and importantly this total has been reached through six consecutive years of growth. We manufacture our products at 17 locations, each being a component of our pan-Europeans supply chain.

We have a total workforce of more than 13,000 people including one of the largest sales forces of any consumer packaged goods company in our markets. Most importantly CCE has proven that we have the size, the scope, the plans and the teams to continue to be an effective competitor in a very attractive category with the ability to navigate a challenging macroeconomic environment.

We are optimistic about our ability to create sustained long-term growth in line with our objectives. Much of the reason for this optimism is in fact our track record as well as the balanced nature of our business. For the past six years, we have focused on creating value for customers, consumers and share owners and we are clearly committed to doing this in the future.

We have managed and we have executed through dynamic and often challenging times to deliver sustained and balanced operating income growth. Over the past six years, we have achieved compound annual operating income growth of more than 8.5%. We have a solid and flexible balance sheet, strong free cash flow and a clear focus on creating value for each stakeholder of the company.

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