Confirmed guidance of double digit growth⁽¹⁾ in Group share of net profit from recurring operations, which should exceed € 1 billion for the first time in 2008/09 fiscal year

Launch of the € 1 billion capital increase by way of a rights issue

• 9 months’ sales 2008/09 : € 5,557 million (+9%)
• Confirmed guidance of double digit growth⁽¹⁾ in Group share of net profit from recurring operations
• € 1 billion rights issue terms set by the Group Board of Directors

Regulatory News:

Pernod Ricard (Paris:RI):

Press release - Paris, 15 April 2009

The Pernod Ricard Group Board of Directors’ meeting of 14 April 2009, chaired by Patrick Ricard, has reviewed and set:

• The activity of the Group over the first nine months 2008/09 fiscal year
• The objectives for the 2008/09 fiscal year
• The terms of the € 1bn rights issue initially announced on April 8^th

Pernod Ricard consolidated net sales (excluding tax and duties) for the first nine months of 2008/09 fiscal year (1 July 2008 to 31 March 2009) increased by +9% to € 5,557 million.

Organic net sales growth was +0.3% in a more challenging environment driven downwards principally by, on the one hand, a slowdown in Eastern Europe, in Duty Free markets and in the on-trade in most mature markets and, on the other hand, a significant de-stocking from wholesalers and distributors. The change in Group structure (+12%) is related to the integration of Vin & Sprit which started 23 July 2008. The negative foreign exchange impact (-3%) is mainly due to the depreciation of the pound sterling, Korean won, Australian dollar and Indian rupee against the euro, and is partially compensated by the appreciation of the American dollar and the Chinese yuan.

Spirits and Wines activities achieved organic growth of +0.7% and -1.3% respectively.

The top 14 strategic brands (excluding Absolut) grew organically by +0.4% in value and -4% in volume due to a favourable mix/price effect. The best performing brands in value⁽²⁾ were: Martell (+13%), Jameson (+11%), The Glenlivet (+7%), Havana Club (+6%) and Mumm (+4%).

Absolut made strong progress on each key market outside the United States with the following trends measured by latest Nielsen panels covering the period from the beginning of our fiscal year to date : Spain +6%, UK Off-trade +20%, Australia +8%, Brazil +16%, France +10%, Germany +41%, Italy +6%, Mexico +15%… In the US, the brand declined by -4%, according to Nielsen panels, though on a high comparison basis.

In the 3rd quarter 2008/09, consolidated net sales were slightly down 2% to € 1,345 million, with -12% organic growth, negative foreign exchange impact of -0.7% and group structure effect of +10%. Organic growth for the quarter was adversely impacted by our clients’ willingness to decrease their inventories due to credit tightening but also by Pernod Ricard’s greater focus on receivable risk management.

The relative weight of each region, Asia/RoW, Americas, Europe and France is similar to that reported twelve months ago apart from a slight increase of the Americas which benefited from a positive change in Group structure given the integration of Vin & Sprit’s portfolio in the US as well as the appreciation of the American dollar against euro over the first nine months of the 2008/09 fiscal year.

Conclusion and outlook

For fiscal year 2008/09, Pernod Ricard now aims for organic growth⁽³⁾ in profit from recurring operations of between +3% and +5% (versus between +5% and +8% previously announced), thus reflecting a higher than initially anticipated level of de-stocking. The Group confirms its target of an average cost of borrowing below 5%.

The confirmation of a significant organic growth in profit from recurring operations, the low cost of debt and the successful integration of Vin & Sprit with accelerated implementation of synergies allow the Group to confirm its guidance of double-digit growth in Group share of net profit from recurring operations, which for the first time should exceed € 1 billion over the full 2008/09 fiscal year⁽¹⁾.

The Group's target to achieve free cash flow form recurring operations of close to € 1 billion over the full 2008/09 fiscal year is also reiterated.

Commenting these figures, Pierre Pringuet, Chief Executive Officer, declared: “In this difficult environment we aim for a record Group share of net profit from recurring operations for the fiscal year 2008/09, which illustrates the Group’s strength and its resilient business model”

€ 1 billion rights issue

Yesterday, the Group Board of Directors of Pernod Ricard set the terms for the € 1 billion rights issue, which the Group announced on April 8^th.

Terms and timetable are as follows:

• Gross proceeds: approximately € 1.04 billion
• Subscription ratio: 3 new shares for 17 existing shares -> will create 38.8 million new shares
• Subscription price: € 26.70
• New shares entitled to the 2008/09 dividend
• Subscription period: April 16 – April 29 -> shares to trade ex-right as of April 16
• Settlement / listing of the new shares: May 14

Pierre Pringuet, Chief Executive Officer, and Emmanuel Babeau, Deputy Managing Director in charge of Finance, will answer your questions on a conference call today between 09:00 and 10:30 am

Dial-in: + 33 (0)1 72 00 09 86

Following the conference in the UK: + 44 (0)203 147 47 44

Following the conference in the US: + 1 866 907 59 28

⁽¹⁾ At foreign exchange and interest rates of 30 March 2009

⁽²⁾ Organic growth

⁽³⁾ On Pernod Ricard’s original Group structure

About Pernod Ricard

Created by the merger of Pernod and Ricard in 1975, the Group has undergone sustained development, based on both organic growth and acquisitions. The purchase of part of Seagram (2001), the acquisitions of Allied Domecq (2005) and of Vin & Sprit (2008) have made the Group the world’s co-leader in wines and spirits with sales of € 6,589 million in 2007/08. Pernod Ricard holds one of the most prestigious brand portfolios in the sector: ABSOLUT Premium Vodka, Ricard pastis, Ballantine’s, Chivas Regal and The Glenlivet Scotch whiskies, Jameson Irish Whiskey, Martell cognac, Havana Club rum, Beefeater gin, Kahlúa and Malibu liqueurs, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek and Montana wines. Pernod Ricard favours a decentralised organisation, with 7 “Brand Owners” and 70 “Distribution Companies” established in each key market, and employs a workforce of more than 19,300 people. The Group is strongly committed to a sustainable development policy and encourages responsible consumption of its products. Pernod Ricard is listed on the NYSE Euronext exchange (Ticker: RI; ISIN code: FR0000120693) and is a member of the CAC 40 index.

This press release contains forward-looking statements and do not necessarily reflect future performance of Pernod Ricard, which may materially differ. These statements are by their nature subject to risks and uncertainties.

This press release and the information it contains do not constitute an offer to sell or subscribe or a solicitation of an order to buy or subscribe securities in any country. In France, securities may not be offered or sold without a prospectus approved by the French Autorité des marchés financiers. The distribution of this press release may be restricted in certain countries by applicable laws and regulations. Persons who are physically located in those countries and in those in which this press release is circulated, published or distributed must inform themselves about and comply with such restrictions.

The securities mentioned in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent such registration or an applicable exemption from the registration requirements of the Securities Act. Pernod Ricard does not intend to register any portion of the planned offering in the United States or to conduct a public offering of securities in the United States.

This document does not constitute an offer of securities to the public in the United Kingdom. In the United Kingdom, this document may be distributed only to persons who have professional experience in matters relating to investments falling within Article 19(5) of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or to whom it may otherwise be lawfully communicated (all such persons being referred to as "relevant persons"). In the United Kingdom, this document may not be acted on by persons who are not relevant persons. Any investment or investment activity to which this document makes reference will be engaged in only with relevant persons.

Next corporate event : Review of full fiscal year end 2008/09, Friday 17^th July 2009

Please find the slideshow presentation for the 3rd quarter 2008/09 on www.pernod-ricard.com

Pernod Ricard
Francisco de la VEGA, +33 (0)1 41 00 40 96
Communication VP
or
Denis FIEVET, +33 (0)1 41 00 41 71
Financial Communication – Investor Relations VP
or
Florence TARON, +33 (0)1 41 00 40 88
Press Relations Manager