Bowl Appetit Strategy & Concept Development

1. Bowl Appetit Strategy & Concept Development Jason Carlock Dawn Eagle Heather McGlone Dave Nagel Matt Shaulis Kevin Stephen

2. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Agenda • Overview • Current Situation • Recommendations – Sumptuous Sides • Recommendations – Bowl Appetit for Kids • Next Steps and Summary

3. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Recommendation • Sumptuous Sides • Specially prepared microwaveable rice, potato, and vegetable side dish combinations that compliment any entrée. • Projected incremental revenue = $86.17 million • Bowl Appetit for Kids • Specially prepared microwaveable pasta bowls with flavors and shapes of characters your children love. • Projected incremental revenue = $37.93 million

4. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Consumer Key Learnings • Adults believe “they never have enough time in the day to do the things they need” – especially prepare a healthy meal • Consumers like to cook, but don’t want to do extensive prep work • Consumers are cooking less at home because they are not confident • Consumers are often unsure of what they will have for dinner

5. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Food Industry Key Learnings • Supermarkets recognizing dual income demographic shifts and benefit from higher margins • Supermarkets continue to provide more ready to eat meals • Supermarket consumers are responding to these offerings The Partnering Group, Beyond Foodservice: How Consumers View Meals

6. Overdeveloped New Families Family size of 3-4 Families with kids <6 Affluent Professional, White Collar Underdeveloped Families with kids 6-12 Age 55+ Family size of 1 or 2 Young singles Childless Young Couples Empty Nesters Hispanic, African-American, Other Non-Caucasian Income < $20,000 Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Competitive Analysis – Key Learnings *Overdeveloped is defined as indexing at 120+; Underdeveloped is indexing at <80.

7. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Bowl Appetit Current Situation – Key Learnings • Distributed through traditional grocery channels • Low penetration rates • Steady sales for 3rd quarter 2001 • Distribution and turnover above average

8. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Product Satisfaction Survey II Do you view the product as a meal, a side, a snack, or all three?

9. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary New Product Concept Survey Results

10. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Competitive Landscape Full Meal Stouffer’s Home Cooked Meal Healthy Choice Uncle Ben’s Bowls Chef Boyardee Time consuming to prepare Convenient Kraft Easy Mac Fresh Veggies Opportunity Canned Veggies Side dish

11. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Concept Development Sumptuous Sides The Easy Prep, Single Serve, No Clean-up, Meal Completer When dining alone, Sumptuous Sides allows you to prepare a well-balanced, nutritious meal without the hassle of managing multiple pots and pans. Specially prepared microwaveable rice, potato, and vegetable side dish combinations that compliment any entrée. • Easy to prepare – Just add water to bowl contents and microwave for 5 minutes. • 4 great varieties: Sour Cream & Chive mashed potatoes and green beans, Garlic mashed potatoes and mixed vegetables, Herb chicken rice and peas, Three cheese rice and mixed vegetables • Available in your local grocer’s rice & potato aisle. • Just $1.80 per serving (includes 2 sides)

12. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Fit with General Mills & Betty Crocker • Core Competencies • Competency in dry, shelf-stable meal/snack/side solutions • Providing convenience • Providing meal ideas • Great Distribution • Brand Equity • Sincere • American-style food • Simplified solutions that work • Quality at affordable prices • Betty Crocker targets women • Product positioning • Makes side dish offerings complete with a convenient option

13. Overview Current Situation Recc - SS Recc - BAK Next Steps/Summary Marketing Plan • Brand Equity – The Easy to Prepare, No Clean-up, Meal Completer • Strength / Competitive Advantage – Betty Crocker and Green Giant quality with no hassle and no clean-up • On Shelf Positioning – In Food and Mass on rice & potato aisle • Pricing – 2.5 oz sku $1.80 • Advertising • $10MM in advertising support with focus on quality and no hassle. (Money will be borrowed from Betty Crocker parent product for year 1.) • Ads focus on working singles who want a complete meal without actually cooking a complete meal. • Other Promotional ideas • $.50 coupons dropped 10/1, 1/29, 4/1 (FSI will include Green Giant products also to share cost) • Single sku displays offered to retailers with Off Invoice allowance of 5% • $1.00 coupon dropped to undergraduate college students • Skus will be added to Betty Crocker cookbook in a special Easy Meals Section • Betty Crocker Recipe Cards will be given away during 1st year promotion on selected skus. • Co-promotion (Complete your meal) with Pillsbury ($.50 off both Pillsbury and Sumptuous Sides)