Prepared Foods November 8, 2004 enewsletter

Pernod Ricard announces that it has sold its remaining interest in the Orangina soft drinks business operated by its subsidiary, CFPO, which is conducted in the U.K., Eastern Europe, Africa/Middle East, South America and Asia, to Cadbury Schweppes for an amount of around 31 million euros ($40.2 million).

This transaction completes the disposal process in relation to Pernod Ricard's worldwide business interest in Orangina which commenced in 2001.

In 2003, the Orangina brand accounted for 12.4 million euros ($16.1 million) of Pernod Ricard's net sales.