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Fortune Brands Inc (FBI)


Tuesday 18 February, 2003

Fortune Brands Inc

Fortune Brands Reaffirms Earnings Guidance

Fortune Brands Reaffirms Earnings Guidance 

    SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Feb. 18, 2003--

Fortune Brands, Inc (NYSE:FO), a leading consumer brands company,
today reaffirmed its earnings expectations for the first quarter and
full year 2003.

In remarks prepared for delivery today at the Consumer Analyst Group
of New York conference, Fortune Brands Chairman & CEO Norm Wesley
said: 'Fortune Brands is already off to a good start in 2003. Results
in January tracked our expectations, and we continue to anticipate
solid double-digit EPS growth in the first quarter, benefiting partly
from the final incremental quarter of our successful Omega cabinets
acquisition. As we look to the full year, we'll benefit from our
successful strategic initiatives, including robust brand investments
and a new product pipeline that's fully loaded. We continue to feel
well-positioned to achieve our long-term goals of double-digit EPS
growth and improved returns in 2003.' The company's earnings goals
exclude any special gains or charges.

Fortune Brands, Inc. is a consumer products company with annual sales
exceeding $5.6 billion. Its operating companies have premier brands
and leading market positions in home and hardware products, spirits
and wine, golf equipment and office products. Home and hardware brands
include Moen faucets, Aristokraft, Schrock, Diamond and Omega
cabinets, Master Lock security products and Waterloo tool storage sold
by units of MasterBrand Industries, Inc. Major spirits and wine brands
sold by units of Jim Beam Brands Worldwide, Inc. include Jim Beam and
Knob Creek bourbons, DeKuyper cordials, The Dalmore single malt
Scotch, Vox vodka and Geyser Peak and Canyon Road wines. Acushnet
Company's golf brands include Titleist, Cobra and FootJoy. Office
brands include Day-Timer, Swingline, Kensington and Wilson Jones sold
by units of ACCO World Corporation. Fortune Brands, headquartered in
Lincolnshire, Illinois, is traded on the New York Stock Exchange under
the ticker symbol FO and is included in the S&P 500 Index.

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This press release contains statements relating to future results,
which are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Readers are
cautioned that these forward-looking statements speak only as of the
date hereof. Actual results may differ materially from those projected
as a result of certain risks and uncertainties, including but not
limited to changes in general economic conditions, foreign exchange
rate fluctuations, changes in interest rates, returns on pension
assets, competitive product and pricing pressures, customer
consolidations, the impact of excise tax increases with respect to
distilled spirits and wine, regulatory developments, the uncertainties
of litigation, changes in golf equipment regulatory standards, the
impact of weather, particularly on the home products and golf brand
groups, expenses and disruptions related to shifts in manufacturing to
different locations and sources, as well as other risks and
uncertainties detailed from time to time in the Company's Securities
and Exchange Commission filings.

   Short Name: Fortune Brands Inc
   Category Code: MSC
   Sequence Number: 00002052
   Time of Receipt (offset from UTC): 20030217T224950+0000


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