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Business Description
The Pepsi Bottling Group, Inc. (PBG) manufactures, sells and distributes Pepsi-Cola beverages. The beverages sold by the Company include Pepsi-Cola, Diet Pepsi, Mountain Dew, Aquafina, Sierra Mist, Lipton Brisk, Diet Mountain Dew, Sobe, Dole and Pepsi Vanilla, and, outside the United States, Pepsi-Cola, Kas, Aqua Minerale, Manzanita Sol and Mirinda. The Company has the right to manufacture, sell and distribute soft drink products of companies other than PepsiCo, including Dr Pepper, Squirt and, through October 2003, All Sport. The Company also has the right to manufacture, sell and distribute beverages under trademarks that PBG owns, including Electropura and Garci Crespo. PBG has the exclusive right to manufacture, sell and distribute Pepsi-Cola beverages in all or a portion of 41 states and the District of Columbia in the United States, nine Canadian provinces, Spain, Greece, Russia, Turkey and all or a portion of 21 states in Mexico.

Financial Information
For the 36 weeks ended 9/4/04, revenues rose 6% to $7.68 billion. Earnings before accounting change rose 8% to $383 million. Results reflect volume growth in the U.S., Europe and Canada and lower interest expense, net due to lower rate on LT Debt.