GlaxoSmithKline Consumer Healthcare FY 04 Sales up 8%, PBT rises 16.2% Q4 Sales up 10.8%, PBT grows 50.3%, Gurgaon, January 28, 2005

GlaxoSmithKline Consumer Healthcare FY 04 Sales up 8%, PBT rises 16.2% Q4 Sales up 10.8%, PBT grows 50.3%

Gurgaon, January 28, 2005

GlaxoSmithKline Consumer Healthcare Limited (GSKCH) today declared its financial results for the year ended December 31, 2004. Despite a difficult FMCG environment, GSK Consumer Healthcare achieved Sales for the full year of Rs. 981.72 crore, representing a growth of 8%. Sales for the final quarter was at Rs. 239.89 crore, a growth of 10.8 %.

GSKCH performance continues to endorse its strong leadership position in the Health Food Drink category. The company launched several new products in the year, including Horlicks and Boost in a ready-to-drink format. It also introduced Junior Horlicks and Mothers Horlicks with DHA in key markets. Maltova and Horlicks Biscuits were relaunched and a new Horlicks pack is being test marketed in rural areas.

"New product innovation is helping grow the category and will continue to be the focus at GSKCH. Increasing opportunities for consumption and broadening distribution reach will also be key priorities," said Nick Massey, Managing Director, GlaxoSmithKline Consumer Healthcare Limited. "The fuel for our innovation is being provided by our strong cost-savings program," he said.

PBT for the year amounted to Rs. 115.68 crore, representing a growth of 16.2% over the previous year. PAT amounts to Rs. 73.16 crore, a decline of 4.2 % over the previous year, attributable mainly to a one-time write back of a deferred tax amount in the previous year.

About GlaxoSmithKline Consumer Healthcare Ltd.

GSKCH, which was established in 1958, is an associate of GlaxoSmithKline plc. of the U.K, a global science based healthcare company. GSKCH has continually benefited from the technical and marketing inputs that have been available as a consequence of this association. GSKCH is one of the largest players in the health food drinks industry. The Company with its manufacturing plants located in Nabha, Rajahmundry and Sonepat has a total workforce of about 2700 people.

GSKCH has a strong marketing and distribution network in India comprising over 1800 wholesalers and direct coverage of over 4,50,000 retail outlets. Its flagship product, Horlicks, is a widely regarded and highly respected 130-year-old brand. The Company also manufactures and markets Boost, Viva and Maltova and in addition markets and distributes a number of products in diverse categories, which include prominent household names such as Eno, Crocin and Iodex.