ENERGIZER 2000 ANNUAL REPOR T 24 CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY (Dollars in millions) The above financial statement should be read in conjunction with the Notes to Consolidated Financial Statements. Accumulated Ralston’s Additional Other Net Common Paid in Retained Comprehensive Investment Stock Capital Earnings Income Balance at September 30, 1997 $ 1,548.2  Net earnings 164.7  Net transactions with Ralston (151.2) Foreign currency translation adjustment (30.4) Balance at September 30, 1998 $ 1,531.3  Net earnings 80.0  Net transactions with Ralston (301.7) Foreign currency translation adjustment 3.3  Balance at September 30, 1999 $ 1,312.9  Net earnings 121.6  Net transactions with Ralston (732.8) Foreign currency translation adjustment (1.4) Balance at March 31, 2000 $ 700.3  Distribution to Ralston’s shareholders $ (700.3) $1.0  $783.9  $ (84.6) Net earnings $ 59.8  Foreign currency translation adjustment (20.8) Minimum pension liability adjustment (1.1) Balance at September 30, 2000 $ – $1.0 $783.9 $59.8 $ (106.5)