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Table: Despite Pricey Acquisitions...


Corporation: Strategies

TABLE: Despite Pricey Acquisitions...

Despite Pricey Acquisitions...

-- Paid $14 million for maker of Soho Natural sodas in 1988. Sold for $2

million in 1991.

-- Bought Tropicana for $1.2 billion in 1988. Returns have been well below

Seagram's expectations.

-- Bought Martell Cognac for $850 million in 1988. Analysts say price for

the premium brand was steep.

-- Acquired 14.9% stake in Time Warner for $2 billion in 1993. Stock has

remained virtually flat.

-- Acquired distribution rights to Absolut Vodka in 1993.

...DuPont Still Fuels Seagram's Growth

PRETAX EARNINGS (MILLIONS) FY 1995* FY 1992

SPIRITS AND WINE $695 $670

DUPONT (Dividends) 319 275

TROPICANA 88 81

TIME WARNER -71 --

DUPONT (Unremitted profits)** 337 134

*Estimates **After-tax earnings

DATA: COMPANY REPORTS, FIRST BOSTON, BZW CANADA


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