BRIEF OVERVIEW- SARA LEE

BRENDA BARNES, FEB 2005 MULTIYEAR STRATEGIC PLAN

FOOD BEVERAGE HOUSEHOLD GOODS

DIVEST - WEAK PERFORMING BUS

CONCENTRATE ON A SMALLER SEGMENT WHERE SARA LEE WAS WELL POSITIONED

PROMISING MARKETS

AND FINALLY TO INCREASE THERE SALES, PROFITABILITY AND MARKET SHARE

KEY REMAINING FOCUSSED BRANDS

SARA LEE BREADS AND BAKERY PRODUCTS

BALL PARK MEATS

DOUWE EGBERTS COFFEE HILLSHIRE FARM MEATS

JIMMY DEAN SAUSAGE

KIWI SHOE CARE SANSEX PERSONAL CARE AMBI PUR AIR FRESHNERS SANSEO SINGLE SERVED COFFEE

BRIEF OVERVIEW- SARA LEE

ESTIMATED $14 bn 2010 OPERATING PROFIT MARGIN 12% (8.1%- 2004) EXPECTED ANNUAL COST SAVING $575- $800 mn $250 mn ADVERTISING AND PROMOTION REDUCE TOTAL DEBT TO $1.5 bn $2 bn -2010. AS COMPARED TO $4.8 bn 2004 PAY DIVIDENDS REPURCHASE SHARE OF COMMON STOCK

COMPANY BACKGROUND
1939 - ORIGINATED WHEN NATHAN CUMMINS ACQUIRED C. D. KENNY COMPANY 1942 PURCHASED SPRAGUE WARNER & CO 1946 LISTED ON NYSE 1954 NAMED CONSOLIDATED FOOD CORP.
1956 ACQUIRED KITCHENS OF SARA LEE AND 24 PIGGLY WIGGLY SUPERMARKETS

4 DECADES OF SERIES OF RELATED AND UNRELATED ACQUISITIONS.

JOHN H BRYAN 1975-2000

STEVEN MCMILLAN - 2000-2005

BRENDA C.BRANES - 2005 ONWARDS

DIVERSIFICATIO N

EMERGENCE AS A GLOBAL COMPETITOR

STRATEGIES TO NARROW SARA LEES FOCUS

SARA LEE SALES

1980 5 BN

DIVESTITURES
2000 PYA/MONARCH 1.6 BN CHAMPION EUROPE COACH INTERNATIONAL FABRICS DEVISION

1996
PIGGLY WIGGLY SUPERMARKETS

2004 FILODORO APPAREL BUSINESS