to retail stores across 70 percent of the United States. We supported the launch with considerable advertising, especially during back-to-school and return-to-school periods. We will bring the product  to the entire country in the first quarter of fiscal 2004. Also in fiscal 2003, we introduced our pre-toasted grilled cheese  Uncrustables product to the retail market, and it too has been well received. This new offering is consistent with our aim to provide  consumers with convenient, wholesome, tasty foods — in this case, a grilled cheese sandwich that’s ready to eat after just a minute or less in the microwave. Along with completing the rollout of peanut butter and jelly  Uncrustables, we will take the grilled cheese product national in fiscal 2004. We will back these efforts with new  Uncrustables television ads and a number of exciting consumer promotions.  Jif The entire peanut butter category expanded by four percent this past year, as consumers  turn to peanut butter as a healthy and inexpensive source of protein. As we mentioned earlier, one  of our major accomplishments in 2003 was to revitalize the  Jif brand. We significantly increased the amount of consumer advertising behind  Jif and are extremely pleased with the way  Jif sales outpaced the category’s overall growth rate. The  Jif brand commands a 35 percent share of the peanut butter  category. This share, combined with our other peanut butter brands — Smucker’s  natural peanut butter, Laura Scudder’s, Adam’s, and  Goober — gives us a 42 percent share of the total category. In October 2002, the U.S. Congress approved the Farm Bill, resulting in lower peanut prices. We passed along a portion of those savings to our consumers and invested the balance of the savings in the  Jif brand, primarily  in advertising. Advertising spending against  Jif will increase again in 2004, and we are developing  new television commercials with our advertising agency, Grey Worldwide. Our  Jif plant in Lexington, Kentucky, achieved record production results and did an outstanding job meeting our customers’ demands. We are investing in the Lexington plant to further increase its capacity.  Crisco For our Company, cooking oil is a new category that presents a unique set of opportunities. We are extremely pleased with how this business performed in fiscal 2003, and we are especially  grateful to our team at the  Crisco plant in Cincinnati, Ohio, for their many contributions. As with  Jif, our primary emphasis in 2003 was on revitalizing the  Crisco brand, and again, we are pleased with the results of our investments. During the holiday baking season, we began to see our market share increase in response to consumer initiatives, including the first television advertising of Crisco in five years.  We intend to further strengthen  Crisco advertising in fiscal 2004 as part of our strategy to build our brands with consistent levels of high-quality consumer support.  Comments From Our Consumers “I was raised in the 1950s when  Crisco was used by most cooks. It was a trusted product that meant good flavor. I’m happy to say that after all these years, Crisco remains the number-one product that beats all of the other products when it comes to flavor. Thanks for all the years of enjoyment.” 3