Citi Investment Banking Pitch Book

Detailed Illustrative Timing: One Step Structure Timing June 28 July 1-6 July 6-8 July 12 July 14 July 18 August 2 Augu et7 August 21 Cotober 1 17 ◆ Make key decisions regarding structure, franding and process ◆ Papa counse prepares Schedule 130 amendmenl + + ◆ Order DTC run + ◆ + Events Papa begne lo amange franding with banks Due diligence Is I reuewed by Company • ◆ Reulew shareholder Information Banker due diligence Dramleler lo Charlle board Papa approaches Challe board with commlmeni leller tom banks + Papa iles Schedule GD amendment la discussions with Cakes Prepare Board malenas Ob in Papa Board approud + Charlie Board appoint Spedal Commi lee onlindependent directors lo regolat ems Spedal comml lee engages les owniega coured and thanda aduisce Buyer and spedal commilee of Challe board regolat tarszcion lems and merger agreement Spedal commillee trandal adulsor meet with Chenille managemenland spedal commille lo discuss salon and timess considerations Papa course prepares secord Schedule 130 amendment Charlle begreb prepare dran proxy statement @nduding required disclosure under SBC's going priusle rules) DRAFT 29-Jun-04 • Spedal commilke trandal adulsor deluers presenblon lo he specta commilte regarding the timess of the merger condderallon lo Charles unamated slockholder each approue merger agreemenl Papa and Charte execut merger agreemenl Parles Issue kini press release amounding transacion Charlle des S-Kannounding signing of merger agreement Papales second Schedule 130 amendment ◆ Ob in inanding commitmenl +Challe es preliminary proxy statement with SEC • Submilany applicable regulatoryings g., HarcoltRodino nolfason) ♦ Receive SEC comments,Itary, on proxy statement (Note: If the SEC Indiales hal hey plan breuew the proxy statement which usualy will occur insublecl lo going priusle rues), subse lacions in Ms Imetle be Citigroup]

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