Europe Our net sales in Europe jumped 18% in 2003, or about 3% when adjusted for foreign currency translation. Our longstanding presence in Europe, high category shares, and enduring brands generate solid returns on invest- ment. The implementation of  Volume to Value in 2002 and 2003 led to accelerated sales growth for this region. Europe U.S. Other U.S. Retail Snacks All Other Latin Am. % of KELLOGG NET SALES U.S. Retail Cereal -2% 2001 2002 2003 2% 3% % Growth, Local Currency Europe: Accelerated Net Sales Growth  Europe: Clear Cereal Leader in All Key Countries Europe: Regaining Share in Key Countries Value Share of RTE Cereal Category 52 Weeks 2003 Change vs. Year Ago UK FRANCE 42.8% 44.2% +1.0 +2.4 Source; Information Resources, Inc., Food, Drug, and Mass  Channels, Latest 52-week period ended December 2003. RTE Cereal, Value Share Year Entered Kellogg Ranking #2 Share UK FRANCE GERMANY IRELAND SPAIN ITALY NORDIC BENELUX #1 #1 #1 #1 #1 #1 #1 #1 17% 27% 21% 18% 18% 23% 10% 19% 43% 44% 26% 56% 52% 56% 39% 52% 1922 1968 1950 1929 1977 1967 1957 1970 Kellogg Share Kellogg Company 13 Source; Information Resources, Inc. The U.K. is a notable success story. After implementing Volume to Value and building up an impressive pipeline of innovations and consumer promotions, our cereal business in that core market picked up momentum in 2003. For the first time in years, it gained category share (+1.0 point). The innovation included the relaunch of  Kellogg’s Corn Flakes ® , using a foil inner bag to preserve freshness, and extending the brand with  Kellogg’s Corn Flakes with Bananas . We also intro- duced  Special K ® Peach & Apricot and  Crunchy Nut ® Clusters, extensions of those two brands. Our calendar of consumer promotions was the most aggressive it had been in years. A themed cereal and a watch-in-the- box insert were tied to the popular  Simpsons ® cartoon, and we ran promotions linked to  Cartoon Network ® , Disney ® , and the movie  X-Men 2 ® . A weight-loss chal- lenge was again successful, as was a book offer and an exercise-ball giveaway. We increased our advertising and made it better, especially on  Frosties ® ,  Coco Pops ® , Special K ® , and  Crunchy Nut ® . Meanwhile, we continue to expand our wholesome snacks business. We added