Olive Oil Category Review and New Item Introduction

1. Olive Oil Category Review and New Item Introduction Italica Imports Scarsdale, New York Telephone: 800-431-1529 e-mail: craig.teepeeolives.com Presented June 20, 2006 To __________ Pathmark Supermarkets By Craig Robertson, Tee Pee Olives

2. “What’s In, Right Now, & Always” Extra Virgin Olive Oil Recent research about diet and nutrition is causing confusion among consumers. But for thousands of years, the benefits of Olive Oil have not changed. Our company has imported olive oil for over 70 years. In fact, we are a third generation, family-owned company. The Italica brand entered the U.S. market during 1987. We are committed to having Italica recognized as Spain’s finest olive oil, available in PET packaging.

3. Food & Drug Administration Allows Health Claim FDA says that producers of olive oil may say on their labels that there was “limited and not conclusive” evidence based on “significant scientific agreement”. “Eating two tablespoons (23 grams) of olive oil daily may reduce the risk of coronary heart disease”.

4. Extra Virgin Drives NY Olive Oil Category • Total Category Sales $88,496,130, Growing +6.3%, vs YAG • The Extra Virgin Oil Segment Represents 53% of Sales, with 12.5% Growth While all segments are growing, New Yorkers Prefer Extra Virgin Olive Oil Source: IRI NY MARKET 52 WEEK ENDING 5/21/06

5. NY Market – 17 oz & 3-Liter are Leading Sizes 703 SKUs Reported by IRIfor NY Market More than 23% Category Dollars are Sold in 17 oz, Growing +18.5%. (148 SKUs) 3L oz. Is 2nd Largest Size but $ and Units are Declining The Top 6 Sizes Generate Almost 75% of Sales. The Slowest Moving Sizes Comprise 118 SKUs Generate Less than 1% of Sales. Source: IRI NY MARKET 52 WEEK ENDING 5/21/06

6. NY Market – Brand Dynamics Berio Is the Leading Brand with Botticelli and Bertolli Trading Sales as #2 & #3 Top 10 Brands Deliver 80% of Sales. (Total 190 Brands) Italica is #22 Brand. On Sales/Pt Basis, Italica would Round Out Top 10 The Bottom 123 Brands Comprise 264 SKUs and Deliver Less than 1% of Sales. With So Many “Slugs” There is Room to Test the Power of a Unique and Bold Category Innovation. Source: IRI NY MARKET 52 WEEK ENDING 5/21/06

7. Retail Merchandising Favors 3L & Gallons • No Question that Retailers Manage Value Segment vs. Profit Segment • Half of Larger Sizes are Merchandised. (Value) • In contrast, 17 oz is infrequently promoted, making it the Profit Segment. Source: IRI NY MARKET 52 WEEK ENDING 5/21/06

8. Consumers are Willing to Spend More on Extra Virgin Olive Oil Retailers Also Make More Money Extra Virgin Olive Oil. (17 oz. Example) Extra Virgin Generates Almost $1/Unit Higher Ring than Regular or Light! What If We Offered a Big Idea and It Came in the Category’s Best Selling Size ? Source: IRI NY MARKET 52 WEEK ENDING 5/21/06

9. Announcing the Biggest Improvement in 1000 Years! • Italica Brand Extra Virgin Olive Oil Enriched with OMEGA-3 WE’VE UNLOCKED NUTRACEUTICAL BENEFITS • Anti-Oxidants • Cardiovascular Prevention • Cholesterol Reduction • Anti-Microbial • Anti-Cancer • Enhanced immune response

10. Italica Imports is Part of a Consortium that Set Out to Design a New Olive Oil within Good Manufacturing Practices HPLC Chromatography Mass Spectrophotometry Research Team Pilot Plant • Italica Imports and Nutritional Science Team Headed by Dr. M Esteban: • Included more than 20 researchers from: • Antas Pharma SA • Novartis • Glaxo • BASF • University of Seville • University of Almeria • University of Grenada Physiological Benefits LINKING Olive Residues

11. Key Reasons for Longer Life Expectancy Among Mediterranean Cultures Is . . . Omega-3 • The Mediterranean diet includes regular fish, vegetable, and olive oil consumption. • This diet has numerous correlated benefits:- Lower blood pressure in hypertensive patients- Lower cholesterol- Lower incidence of rheumatoid arthritis- Lower incidence of some cancers - Improved cerebral and visual function Sources of Omega-3: cold water fish or flax seeds

12. Omega-3 Moves to the Mainstream ! TODAY’S GROCER January 2006 Ten Trends to Watch in Package Goods in 2006: #1 Omega-3 One food trend that gained momentum during 2005 was heart-healthy Omega-3 fatty acids. Found naturally in cold water fish and flax seeds, Omega-3’s began to penetrate a variety of product categories including milk, yogurt, bread, pasta, and eggs.

13. Recent Scientific Studies Confirm that Olive Oil and Omega-3 Are Truly Beneficial to your Health Olive oil is a triglyceride: the major energy reserve for plants and animals. Olive Oil contains both Omega-3 and Omega-6 fatty acids.  Omega-3 fatty acids are important in preventing cardiovascular disease and are abundant in oily fish such as salmon. Omega-3 is recommended by the American Heart Association because it helps lower bad cholesterol and keeps arteries clear. Components of olive oil have been compared to traditional antioxidants used by the cosmetic and pharmaceutical industries to prevent skin damage by overexposure to the sun.

14. Olive Oil with Omega-3 Promotes Smoother Joints, Lustrous Hair and Better Health Olive oil is rich in antioxidants. Antioxidants have been shown to prevent / reduce the progression of arthritis. Olive Oil has been demonstrated to inhibit or delay the rate of growth bacteria such as Salmonella, Cholera, Staphylococcus, Pseudomonas, and Influenza. Italica is also participating in ongoing research into Vitamin E and Vitamin D’s role in preventing or minimizing the development of cancer, coronary heart disease, cataracts, and Alzheimer’s disease.

15. 2006-2007 Trade Program 2006-2007 Impact Dates

17. The New Look of Italica Olive Oil