McCormick & Company 20% S&P 500 Stock Index -2% S&P 500 Food Products Index 0% 2002 2003 2004 $1.60 $1.20 $0.80 $0.40 $0.00 $2,600 $1,950 $1,300 $650 $0 2002 2003 2004 $0 2002 2003 2004 $360 $300 $240 $180 $120 $60 $0.00 2002 2003 2004 $0.60 $0.50 $0.40 $0.30 $0.20 $0.10 Nov. 99 Nov. 00 Nov.01 Nov. 02 Nov. 03 Nov. 04  $16.03 $18.63  $21.50  $23.79 $28.69  $36.45 McCormick’s share price has more than doubled since 1999. MCCORMICK & COMPANY 2004 ANNUAL REPORT earnings per share from  continuing operations – diluted net sales in millions cash flow from operations in millions dividends paid per share 3 For the five years ended 11/30/04,  McCormick’s total annual  shareholder return has exceeded  the S&P 500 Stock Index and  S&P 500 Food Products Index.