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P&G 2008 Annual Report

Fiscal 2008 was P&G’s seventh consecutive year of organic sales growth at or ahead of the long-term target range; brand and
new product innovations, particularly in developing markets, accounted for virtually all this sales growth. Over the same period, diluted earnings per share have grown at a compound average growth rate of 13%,(1) well ahead of our long-term target.

P&G has generated more than $60 billion in free cash flow since the beginning of the decade. Most importantly, we’ve delivered
consistentl y strong total shareholder return over the past ten-,five-, three- and one-year periods, above the Dow Jones
Industrial Average.

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