: Bottled Water Joint Venture Between Nestlé And Coca-Cola

Paris, July 20, 2004

   • Nestlé and Coca Cola announce the creation of a 50:50 joint venture, Water Partners Bottling ( WPB ), which joint venture in turn has acquired a 65% share of PT AdeS Alfindo Putrasetia, Tbk (AAPS), the number two player in bottled water in Indonesia.

 • Nestlé S.A. and The Coca-Cola Company, both long-term operators in Indonesia, show via this acquisition strong commitment to develop the Indonesian bottled water business.

Paris (France)/ 20th July 2004

Nestlé S.A. and The Coca Cola Company announce today the creation of a 50:50 joint venture partnership in Indonesia, Waters Partners Bottling ( WPB ). This joint venture has, with the full support of former majority shareholders, acquired a 65% majority share of the Indonesian bottled water company, PT AdeS Alfindo Putrasetia, Tbk (AAPS). The joint venture will operate exclusively in Indonesia.

AAPS, a public listed company, is the number two player in bottled water in Indonesia, present across all segments (retail, out-of-home and home & office delivery). The company offers a portfolio of 3 brands: AdeS, Vica and Desca, bottled in 7 plants around the country.

With over 6 billion litres, Indonesia is the seventh largest bottled water market in the world, and the second largest in Asia, after China. Sales of bottled water in Indonesia have shown consistent growth over the years and present many opportunities for future development.

Frits van Dijk, Chief Executive Officer of Nestlé Waters, the Nestlé Group’s water division, commented, “Our partnership with The Coca-Cola Company represents a strong commitment to the competitive and dynamic Indonesian bottled water business. This joint venture should enable us to benefit from an effective distribution network, an established brand portfolio and a solid position, facilitating the development of our activities in this region of the world, without diluting performances.”

Robert Foye, Managing Director of Coca-Cola Indonesia said, “Developing relationships with uniquely qualified partners is a key growth strategy of both Coca-Cola Indonesia and Nestlé S.A. which allows us to maximize opportunities. This joint venture will enable us to drive the bottled water business in Indonesia and enhance category growth. Through WPB, the joint venture partners will bring value to AAPS as they are both long-term investors in Indonesia with combined local and international expertise in beverages.”

Nestlé Waters, the Nestlé Group’s water division, is a global bottled water player, present in 130 countries across the world. With a portfolio of 77 brands (sold in all types of packaging and across all distribution channels), Nestlé Waters holds the N°1 worldwide position in the bottled water business, with 17% value market share, and a turnover of more than EUR 5 billion (CHF 8.1 billion) in 2003.

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