P&G is celebrating 165 years of providing trusted quality brands  that make every day better for the world’s consumers. The  Company markets nearly 300 brands – including Pampers, Tide,  Ariel, Always, Whisper, Pantene, Bounty, Pringles, Folgers,  Charmin, Downy, Lenor, Iams, Crest, Actonel, Olay and Clairol – in  more than 160 countries around the world. The P&G Community  consists of nearly 102,000 employees working in almost 80  countries worldwide. Please visit www.pg.com for the latest news  and in-depth information about P&G and its brands. $^{†}$Excludes restructuring costs and also excludes amortization of goodwill and indefinite-lived intangibles no longer required under accounting rules for 2002. $^{ †}$Excludes restructuring costs and also excludes amortization of goodwill and indefinite-lived intangibles no longer required under accounting rules for 2002. $^{*}$Net Sales growth is 4%, excluding foreign exchange impact. 1 $^{}$Excludes restructuring costs and also excludes amortization of goodwill and indefinite-lived intangibles no longer required under the accounting rules for 2002.  The impact per share is $.50 in 2002, $1.20 in 2001, $.63 in 2000, $.39 in 1999, and $.12 in 1998. $^{}$Excludes restructuring costs and also excludes amortization of goodwill and indefinite-lived intangibles no longer required under accounting rules for 2002.  The impact per share is $.50 in 2002, $1.20 in 2001, $.63 in 2000, $.39 in 1999 and $.12 in 1998. $^{1 }$Excludes restructuring costs and also excludes amortization of goodwill and indefinite-lived intangibles no longer required under accounting rules for 2002.  Financial Highlights Years ended June 30 % Change 3%* 41% 12% 49% 10% 49% 10% 9% 2001 $39,244 4,736  6,821  2,922 4,615 2.07  3.27  1.40 2002 $40,238 6,678  7,636  4,352 5,058 3.09  3.59  1.52 Net Sales Operating Income Core Operating Income Net Earnings Core Net Earnings Per Common Share Diluted Net Earnings Core Diluted Net Earnings Dividends Amounts in millions except per share amounts † † † 1 Diluted Net Earnings Net Sales Core Diluted Net Earnings Operating Cash Flow (per common share) (in billions of dollars) (per common share) (in billions of dollars) 2002 1998 1999 2000 2001 37.2 38.1 40.0 40.2 39.2 2.56 2.59 2.47 2.07 3.09 2002 1998 1999 2000 2001 2002 1998 1999 2000 2001 3.59 2.68 2.98 3.10 3.27 2000 2001 2002 4.7 7.7 5.8 1998 1999 4.9 5.5