SLIDE IX
RETAIL
STRATEGIC ISSUES
1. FOR ARMS - SENSITIVITIES
- ABILITY TO FORMULATE NEW CONCEPTS
2. FOR RATUS - SENSITIVITIES
- POTENTIAL PO& GROWTH
3. FOR HORTEN - VIABILITY
- GROWTH POTENTIAL
4. FOR Dwoo - PEOPLES DRUG
- FUTURE FOR SHOPPERS DRUG/HARDENS/UCS
5. OVERALL - CAN B.A.T 13OUSTRIES ADD VALUE
- AM THERE REALISTIC GROWTH OPTIONS
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BAT Industries document for Province of British Columbia 22 April 1999