McCormick Highlights Passion for Flavor at Conference Presentation

SPARKS, Md., Sep 07, 2010 (BUSINESS WIRE) --

McCormick & Company, Incorporated (NYSE:MKC) today will highlight flavor innovation and brand marketing during a presentation at the Barclays Capital Back-to-School Consumer Conference in Boston, MA.

Alan Wilson, Chairman, President & CEO, will open the conference by stating "Our passion for flavor has built a $3 billion business with a unique position in the food industry. People's appetites for flavor and new taste experiences are growing exponentially. Spice consumption in the U.S. has grown almost three times as fast as the population over the past several decades. Americans enjoyed more than a billion pounds of spices and herbs this past year."

McCormick's products are often less than 10% of the cost of a meal, but at pennies per serving, they deliver 90% of the flavor. As a market leader, retailers, consumers and chefs look to McCormick to bring excitement through innovative flavors and effective marketing:

• Introduced early in 2010, Recipe Inspirations(TM) are recipe cards that include the pre-measured spices and herbs needed to make a great-tasting meal. Sales are off to a strong start with all six varieties among the top 40% of McCormick blends in the U.S.
• To expand on this product concept in 2011, we will launch six new "World Flavors" feature dishes like Tuscan Chicken Stew and Asian Sesame Salmon.
• Around the globe, McCormick is launching a variety of products that include Perfect Shake seasoning blends in the U.K., Thai Chili Sauce in China, and in Australia, reduced sugar Aeroplane brand gelatin formulated with natural flavors and colors.
• As the Company begins the fourth quarter holiday period, it is poised for growth with seasonal product displays, brand advertising and its second annual Holiday Edition of the Flavor Forecast(TM) which contains enticing recipe ideas such as applewood bacon and eggs breakfast flatbread and double pear upside-down cake.

The Company's business fundamentals and ability to adapt have enabled it to operate successfully in an uncertain economic environment. Gordon Stetz, Executive Vice President & CFO, will discuss Comprehensive Continuous Improvement (CCI) which is designed to engage employees in increasing effectiveness and efficiency across all functions. CCI-led savings are expected to exceed $40 million in fiscal year 2010 and the Company set a goal earlier this year to achieve $150 million of cost savings through 2013. In addition to managing costs, incentives are in place to better manage working capital which led to a 5 day reduction in the cash conversion cycle in both 2008 and 2009. The Company expects a further reduction of 10 days by 2012. With a consistent record of increased dividend payments and prospects for sales growth, margin improvement and use of cash for acquisitions and share repurchase, Mr. Stetz will indicate that the Company's long-term outlook is for double-digit increases in annual total shareholder return.

Mr. Wilson will close with the following remarks, "We are driving top-line growth with more effective and increased brand marketing support, on-trend innovation and expansion into new regions and new retail channels. Across our consumer and industrial businesses, our flavors extend to all types of eating occasions, no matter where or what you are tasting. There are few boundaries to our growth. We have a clear runway for margin improvement, and our focus on cash is translating to greater shareholder value." He will conclude the presentation with the statement, "Our passion for flavor defines our business, engages our employees and is the foundation of our success."

Forward-looking Information

Certain information contained in this release, including expected trends in net sales and earnings performance, are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Results may be materially affected by external factors such as damage to our reputation or brand name, business interruptions due to natural disasters or similar unexpected events, actions of competitors, customer relationships and financial condition, the ability to achieve expected cost savings and margin improvements, the successful acquisition and integration of new businesses, fluctuations in the cost and availability of raw and packaging materials, and global economic conditions generally which would include the availability of financing, interest and inflation rates as well as foreign currency fluctuations and other risks described in the Company's filings with the Securities and Exchange Commission. Actual results could differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update or revise publicly, any forward-looking statements, whether as a result of new information, future events or otherwise.

About McCormick

McCormick & Company, Incorporated (www.mccormickcorporation.com) is a global leader in the manufacture, marketing and distribution of spices, seasonings, specialty foods and flavors to the entire food industry - retail outlets, food manufacturers and food service businesses.

SOURCE: McCormick & Company, Incorporated

McCormick
Corporate Communications:
John McCormick, 410-771-7110
john_mccormick@mccormick.com
or
Investor Relations:
Joyce Brooks, 410-771-7244
joyce_brooks@mccormick.com