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The Spirits segment revenues were flat during the quarter, as higher sales of Jim Beam bourbon and Canadian Club whisky, the Cruzan acquisition and strong growth in emerging markets was almost fully offset by soft results in other international markets. In addition, a benefit from the company's route-to-market initiatives was largely offset by unfavorable foreign exchange.

There are signs that the U.S. housing downturn is decelerating, which coupled with the company's share-gain initiatives across all product categories helped moderate the sales decline in the home products business compared to the prior two quarters.

In the golf segment, the company outperformed the industry with successful new products and double-digit constant-currency sales gains in Europe and Korea which were partially offset by a double-digit decrease in the U.S.

Cash flow from operations at the end of the quarter was $382.3 million and the company had a debt-to-capitalization ratio of 47%.

Based on the results year-to-date, management raised the low end of the earnings target. The company now expects annual earnings in the range of $2.10 to $2.30 compared to the previous target of $2.00-2.30. Although, the moderate declines in the home and golf product categories are encouraging, management expects consumers to remain cautious in the months ahead.

Also, the overall home products market -- particularly big-ticket remodeling purchases -- are expected to be challenging in 2010. The company reaffirmed its free cash flow guidance of $400 million.

Get real-time market insights and profitable stock recommendations from the team of analysts at Zacks Investment Research.See all today's Analyst Blog entries.

Fortune Brands, Inc. (NYSE: FO), the company behind leading consumer brands including Jim Beam, Titleist and Moen, today reported results for the third quarter of 2009. Net sales for the third quarter were $1.72 billion, down 11%, reflecting flat sales for the company's spirits business, and more moderate revenue decreases for the golf and home products brands. Diluted earnings per share were $0.82, and excluding one-time items, diluted EPS before charges/gains was $0.77.

Given its third-quarter performance and signs of stabilization in the U.S. new-home construction market, the company raised the bottom end of its full-year earnings target range. The company is now targeting to deliver EPS before charges/gains for 2009 of $2.10-2.30 versus its previous target of $2.00-2.30.

"Despite the challenges of the global economy and the overall U.S. housing market, Fortune Brands continued to deliver results and operating margins at the forefront of our categories," said Bruce Carbonari, chairman and chief executive officer of Fortune Brands. "Each of our businesses performed at or above our expectations in the quarter.

"Consumers are clearly remaining cautious, but our innovative new-product programs, trusted brands and compelling value propositions are helping us compete successfully in the marketplace," Carbonari continued. "In the third quarter, we also remained focused on our successful initiatives to reduce cost structures, improve global supply chains and enhance our cash position. These initiatives are benefiting Fortune Brands and helping position the company for future growth.

"Spirits sales were flat in the quarter, benefiting from higher sales of Jim Beam bourbon and Canadian Club whisky, the Cruzan acquisition, and strong growth in emerging markets, offset by soft results in other international markets," Carbonari added. The company's spirits revenues also benefited from previously disclosed required accounting for the company's route-to-market initiatives, largely offset by unfavorable foreign exchange. "Amidst signs the U.S. housing downturn is decelerating, our share-gain initiatives across product categories helped sales in our home products business decline at a more moderate pace than in the prior two quarters. And in golf, we outperformed the industry with successful new products and double-digit constant-currency sales gains in Europe and Korea that partly offset a double-digit decrease in the United States," said Carbonari. Notable new products contributing to the company's results included the first full quarter of Red Stag by Jim Beam, eco-friendly Moen faucets, energy-efficient Simonton windows, innovative Master Lock products, the new Titleist Pro V1 family of golf balls, and the Titleist 909 series of drivers, fairways and hybrid clubs.

Operating income in the spirits business reflected the impact of previously disclosed costs associated with the company's route-to-market initiatives. In both the home products and golf segments, operating income reflected adverse operating leverage, tempered by the impact of lower cost structures in these businesses.

For the third quarter of 2009:

-- Net income was $124.1 million, or $0.82 per diluted share, compared to $2.21 per diluted share in the year-ago quarter. -- Comparisons were adversely impacted by a net gain, including discontinued operations, of $1.10 per diluted share in the year-ago quarter that more than offset a net gain of $0.05 per share in the current period.

-- Excluding one-time items in both the current and prior-year periods, diluted EPS before charges/gains was $0.77 compared to $1.11 in the year-ago quarter. -- Foreign exchange adversely impacted EPS by $0.07 per share.

-- Net sales were $1.72 billion, down 11%. -- On a comparable basis -- excluding excise taxes, foreign exchange, acquisitions/divestitures, and the impact of required accounting related to spirits route-to-market initiatives -- total net sales would have remained down 11%.

-- Comparable net sales by business unit were: spirits down 4%; golf down 7%; home & hardware down 17%.

-- Operating income was $204.5 million. -- Operating income before charges/gains was $212.6 million.

-- Return on equity before charges/gains was 7%.

-- Return on invested capital before charges/gains was 5%.

Raising Low End of Earnings Target & Reaffirming Free Cash Flow Target

"Looking to the balance of 2009, we now believe EPS before charges/gains will be in the range of $2.10-2.30 for 2009, as compared to our previous target of $2.00-2.30," Carbonari continued. "While we are encouraged by the continued stability of our spirits business and signs of stabilization in new-home construction, we anticipate that consumers will remain cautious in the months ahead, and that the overall home products market -- particularly for big-ticket remodeling purchases -- will continue to be challenging into 2010. In addition, our fourth quarter results will also reflect the impact of adverse operating leverage in the seasonally small quarter for golf and home products, as well as a double-digit year-over-year boost in brand investment behind key spirits brands."

The company also reaffirmed its 2009 target to generate free cash flow in the range of $400 million after dividends and net capital expenditures. Benefiting from factors including its free-cash-flow initiatives and bond issuance in June, the company is now in an undrawn position on its existing revolving credit facility and remains in a strong liquidity position.

About Fortune Brands

Fortune Brands, Inc. is a leading consumer brands company. Its operating companies have premier brands and leading market positions in distilled spirits, home and hardware, and golf products. Beam Global Spirits & Wine, Inc. is the company's premium spirits business. Major spirits brands include Jim Beam and Maker's Mark bourbon, Sauza tequila, Canadian Club whisky, Courvoisier cognac, Cruzan rum, Teacher's and Laphroaig Scotch, EFFEN vodka and DeKuyper cordials. Home and hardware brands include Moen faucets, Aristokraft, Omega, Diamond and Kitchen Craft cabinetry, Therma-Tru door systems, Simonton windows, Master Lock security products and Waterloo storage and organization products sold by units of Fortune Brands Home & Hardware LLC. Acushnet Company's golf brands include Titleist, Cobra and FootJoy. Fortune Brands, headquartered in Deerfield, Illinois, is traded on the New York Stock Exchange under the ticker symbol FO and is included in the S&P 500 Index and the MSCI World Index.

To receive company news releases by e-mail, please visit www.fortunebrands.com.

Forward-Looking Statements

This press release contains statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned that these forward-looking statements speak only as of the date hereof, and the company does not assume any obligation to update, amend or clarify them to reflect events, new information or circumstances occurring after the date of this release. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: general economic conditions, including the U.S. housing and remodeling market; competitive market pressures (including pricing pressures); customer defaults and related bad debt expense; consolidation of trade customers; successful development of new products and processes; ability to secure and maintain rights to intellectual property; risks pertaining to strategic acquisitions and joint ventures, including the potential financial effects and performance of such acquisitions or joint ventures, and integration of acquisitions and the related confirmation or remediation of internal controls over financial reporting; changes related to the company's spirits business organization, including its U.S. and international distribution structure; ability to attract and retain qualified personnel; weather; risks associated with doing business outside the United States, including currency exchange rate risks; commodity and energy price volatility; costs of certain employee and retiree benefits and returns on pension assets; dependence on performance of distributors and other marketing arrangements; the impact of excise tax increases on distilled spirits; changes in golf equipment regulatory standards and other regulatory developments; potential liabilities, costs and uncertainties of litigation; impairment in the carrying value of goodwill or other acquired intangibles; historical consolidated financial statements that may not be indicative of future conditions and results; interest rate fluctuations; volatility of financial and credit markets, which could affect access to capital for the company, its customers and consumers; any possible downgrades of the company's credit ratings; as well as other risks and uncertainties detailed from time to time in the company's Securities and Exchange Commission filings.

Use of Non-GAAP Financial Information

This press release includes measures not derived in accordance with generally accepted accounting principles ("GAAP"), such as diluted earnings per share before charges/gains, operating income before charges/gains, comparable net sales, return on equity before charges/gains, return on invested capital before charges/gains, and free cash flow. These measures should not be considered in isolation or as a substitute for any measure derived in accordance with GAAP, and may also be inconsistent with similar measures presented by other companies. Reconciliation of these measures to the most closely comparable GAAP measures, and reasons for the company's use of these measures, are presented in the attached pages.

FORTUNE BRANDS, INC.
CONSOLIDATED STATEMENT OF INCOME
(In millions, except per share amounts)
(Unaudited)
                                                                    Three Months Ended September 30,                 Nine Months Ended September 30,
                                                                    2009             2008             % Change       2009         2008             % Change
  Net Sales                                                         $   1,717.9      $   1,921.8      (10.6  )       $   4,897.6  $   5,823.3      (15.9  )
  Cost of goods sold                                                    892.7            1,005.4      (11.2  )           2,569.6      3,080.2      (16.6  )
  Excise taxes on spirits                                               125.3            122.5        2.3                350.0        346.3        1.1
  Advertising, selling, general
  and administrative expenses                                           478.8            488.8        (2.0   )           1,415.6      1,506.8      (6.1   )
  Amortization of intangibles                                           8.5              12.4         (31.5  )           25.2         37.3         (32.4  )
  Asset impairment charges                                              -                -            -                  -            324.3        (100.0 )
  Restructuring
  and restructuring-related items                                       8.1              37.9         (78.6  )           79.3         62.4         27.1
  Operating Income                                                      204.5            254.8        (19.7  )           457.9        466.0        (1.7   )
  Interest expense                                                      55.1             60.4         (8.8   )           161.0        179.2        (10.2  )
  Other (income) expense, net                                           (6.9    )        (285.1  )    (97.6  )           7.2          (271.0  )    102.7
  Income from Continuing Operations
  before income taxes                                                   156.3            479.5        (67.4  )           289.7        557.8        (48.1  )
  Income tax expense                                                    31.1             171.4        (81.9  )           55.0         185.4        (70.3  )
  Income from Continuing Operations, net of tax                     $   125.2        $   308.1        (59.4  )       $   234.7    $   372.4        (37.0  )
  Income from Discontinued Operations, net of tax                       -                30.2         (100.0 )           -            152.5        (100.0 )
  Net Income                                                        $   125.2        $   338.3        (63.0  )       $   234.7    $   524.9        (55.3  )
  Less: Net Loss/(Income) attributable to noncontrolling interests      1.1              2.4          (54.2  )           3.4          (67.5   )    105.0
  Net Income attributable to Fortune Brands                         $   124.1        $   335.9        (63.1  )       $   231.3    $   592.4        (61.0  )
  Amounts attributable to Fortune Brands
  common shareholders:
  Income from continuing operations, net of tax                     $   124.1        $   305.7        (59.4  )       $   231.3    $   439.9        (47.4  )
  Discontinued operations, net of tax                                   -                30.2         (100.0 )           -            152.5        (100.0 )
  Net income                                                        $   124.1        $   335.9        (63.1  )       $   231.3    $   592.4        (61.0  )
  Earnings Per Common Share, Basic:
  Income from continuing operations attributable to
  Fortune Brands common shareholders                                $   0.82         $   2.04         (59.8  )       $   1.54     $   2.89         (46.7  )
  Income from discontinued operations attributable to
  Fortune Brands common shareholders                                    -                0.20         (100.0 )           -            1.00         (100.0 )
 Net Income attributable to Fortune Brands
 common shareholders                                  $ 0.82    $ 2.24    (63.4  )    $ 1.54   $ 3.89    (60.4  )
 Earnings Per Common Share, Diluted:
 Income from continuing operations attributable to
 Fortune Brands common shareholders                   $ 0.82    $ 2.01    (59.2  )    $ 1.53   $ 2.85    (46.3  )
 Income from discontinued operations attributable to
 Fortune Brands common shareholders                     -         0.20    (100.0 )      -        0.98    (100.0 )
 Net Income attributable to Fortune Brands
 common shareholders                                  $ 0.82    $ 2.21    (62.9  )    $ 1.53   $ 3.83    (60.1  )
 Avg. Common Shares Outstanding
 Basic                                                  150.3     150.0   0.2           150.2    152.3   (1.4   )
 Diluted                                                152.0     151.9   0.1           151.7    154.5   (1.8   )
 Actual Common Shares Outstanding
 Basic                                                                                  150.3    149.9   0.3
 Diluted                                                                                152.0    151.7   0.2

FORTUNE BRANDS, INC.
(In millions, except per share amounts)
(Unaudited)
  NET SALES AND OPERATING INCOME
                                                   Three Months Ended September 30,                       Nine Months Ended September 30,
                                                   2009               2008               % Change         2009             2008                 % Change
  Net Sales
  Spirits                                          $    636.9         $    636.3             0.1          $   1,723.2      $    1,759.5         (2.1   )
  Home and Hardware                                     802.4              977.6             (17.9 )          2,183.0           2,907.1         (24.9  )
  Golf                                                  278.6              307.9             (9.5  )          991.4             1,156.7         (14.3  )
  Total Net Sales                                  $    1,717.9       $    1,921.8           (10.6 )      $   4,897.6      $    5,823.3         (15.9  )
  Operating Income/(Loss)
  Spirits                                          $    145.4         $    150.4             (3.3  )      $   414.3        $    417.6           (0.8   )
  Home and Hardware                                     70.8               95.9              (26.2 )          51.9              (45.9     )     213.1
  Golf                                                  9.7                24.0              (59.6 )          62.3              143.6           (56.6  )
  Corporate expenses                                    (21.4   )          (15.5   )         (38.1 )          (70.6   )         (49.3     )     (43.2  )
  Total Operating Income                           $    204.5         $    254.8             (19.7 )      $   457.9        $    466.0           (1.7   )
  Operating Income Before Charges/Gains (a)
  Spirits                                          $    149.2         $    172.4             (13.5 )      $   421.7        $    451.6           (6.6   )
  Home and Hardware                                     74.7               111.8             (33.2 )          95.5              306.8           (68.9  )
  Golf                                                  10.1               24.0              (57.9 )          86.9              143.6           (39.5  )
  Less:
  Corporate expenses                                    (21.4   )          (15.5   )         (38.1 )          (66.9   )         (49.3     )     (35.7  )
  Operating Income Before Charges/Gains                 212.6              292.7             (27.4 )          537.2             852.7           (37.0  )
  Restructuring and
  restructuring-related items                           (8.1    )          (37.9   )         78.6             (79.3   )         (62.4     )     (27.1  )
  Asset impairment charges                              -                  -                 -                -                 (324.3    )     (100.0 )
  Operating Income                                 $    204.5         $    254.8             (19.7 )      $   457.9        $    466.0           (1.7   )
  (a) Operating Income Before Charges/Gains is Operating Income
  derived in accordance with GAAP excluding restructuring,
  restructuring-related items and other one-time items. Operating
  Income Before Charges/Gains is a measure not derived in accordance
  with GAAP. Management uses this measure to determine the returns
  generated by our operating segments and to evaluate and identify
  cost reduction initiatives. Management believes this measure
  provides investors with helpful supplemental information regarding
  the performance of the company from year-to-year. This measure may
  be inconsistent with similar measures presented by other companies.
  FREE CASH FLOW
                                                   Three Months Ended September 30,      Nine Months Ended September 30,   2009 Full Year
                                                   2009               2008               2009             2008             Targeted Range
  Free Cash Flow (b)                               $    326.3         $    482.7         $   414.0        $   370.5        $    375 - 425
  Add:
  Discontinued Operations - Sale of Wine Business       -                  17.0              -                (31.0   )         -
  Net Capital Expenditures                              27.4               29.8              76.8             94.9              180
  Dividends Paid                                        28.6               66.1              123.5            195.1        152*
  Cash Flow From Operations                        $    382.3         $    595.6         $   614.3        $   629.5        $    707 - 757
  (b) Free Cash Flow is Cash Flow from Operations less net capital
  expenditures and dividends paid to stockholders. It additionally
  excludes credits and payments of taxes on the discontinued operation
  sale of the wine business. Free Cash Flow is a measure not derived
  in accordance with GAAP. Management believes that Free Cash Flow
  provides investors with helpful supplemental information about the
  company's ability to fund internal growth, make acquisitions, repay
  debt and repurchase common stock. This measure may be inconsistent
  with similar measures presented by other companies.
  * Assumes current dividend rate and basic shares outstanding on
  September 30, 2009.

 EPS BEFORE CHARGES/GAINS
 EPS from Continuing Operations Before Charges/Gains is Net Income
 from Continuing Operations calculated on a per-share basis excluding
 restructuring, restructuring-related and other one-time items.
 For the third quarter of 2009, EPS from Continuing Operations Before
 Charges/Gains is Net Income from Continuing Operations calculated on
 a per-share basis excluding $8.1 million ($5.4 million after tax or
 $0.03 per diluted share) of restructuring and restructuring-related
 items and a gain of $12.5 million ($0.08 per diluted share) related
 to a dividend distribution from our Maxxium investment.
 For the nine month period ended September 30, 2009, EPS from
 Continuing Operations Before Charges/Gains is Net Income from
 Continuing Operations calculated on a per-share basis excluding
 $79.3 million ($49.8 million after tax or $0.32 per diluted share)
 of restructuring and restructuring-related items and a gain of $12.5
 million ($0.08 per diluted share) related to a dividend distribution
 from our Maxxium investment.
 For the third quarter of 2008, EPS from Continuing Operations Before
 Charges/Gains is Net Income from Continuing Operations calculated on
 a per-share basis excluding $37.9 million ($24.6 million after tax
 or $0.16 per diluted share) of restructuring and
 restructuring-related items, the write down of the Maxxium
 international spirits distribution joint venture investment of $25.4
 million ($0.17 per diluted share), a gain on the termination of the
 Future Brands U.S. spirits distribution joint venture of $228.8
 million ($142.7 million after tax or $0.94 per diluted share), and
 an accelerated Future Brands deferred gain of $72.0 million ($44.9
 million after tax or $0.29 per diluted share).
 For the nine month period ended September 30, 2008, EPS from
 Continuing Operations Before Charges/Gains is Net Income from
 Continuing Operations calculated on a per-share basis excluding
 $62.4 million ($40.8 million after tax or $0.27 per diluted share)
 of restructuring and restructuring-related items, asset impairment
 charges of $324.3 million ($310.7 million after tax or $2.01 per
 diluted share), tax-related credits of $98.2 million ($0.64 per
 diluted share), the write down of the Maxxium international
 spirits distribution joint venture investment of $50.5 million
 ($0.33 per diluted share), an after-tax gain resulting from the
 repurchase of the Beam Global minority interest of $81.5 million
 ($0.53 per diluted share), a gain on the termination of the Future
 Brands U.S. spirits distribution joint venture of $228.8 million
 ($142.7 million after tax or $0.92 per diluted share), an
 accelerated Future Brands deferred gain of $72.0 million ($44.9
 million after tax or $0.29 per diluted share), and V&S auction
 process costs of $8.2 million ($5.2 million after tax or $0.03 per
 diluted share).
 EPS from Continuing Operations Before Charges/Gains is a measure not
 derived in accordance with GAAP. Management uses this measure to
 evaluate the overall performance of the company and believes this
 measure provides investors with helpful supplemental information
 regarding the underlying performance of the company from
 year-to-year. This measure may be inconsistent with similar measures
 presented by other companies.
                                           Three Months Ended September 30,       Nine Months Ended September 30,
                                           2009        2008        % Change       2009       2008       % Change
 Earnings Per Common Share - Basic
 Income from Continuing Operations
 before Charges/Gains                      0.78        1.12        (30.4  )       1.79       3.15       (43.2  )
 Maxxium distribution gain                 0.08        -           -              0.08       -          -
 V&S auction process costs                 -           -           -              -          (0.03 )    -
 Maxxium investment write-down             -           (0.17 )     -              -          (0.33 )    -
 Accelerated Future Brands Deferred Gain   -           0.30        -              -          0.29       -
 Gain on Future Brands termination         -           0.95        -              -          0.94       -
 Tax-related credits                       -           -           -              -          0.64       -
 Asset impairment charges                  -           -           -              -          (2.04 )    -
 Beam Global minority interest repurchase  -           -           -              -          0.54       -
 Restructuring
 and restructuring-related items           (0.04 )     (0.16 )     75.0           (0.33 )    (0.27 )    (22.2  )
 Income from Continuing Operations         0.82        2.04        (59.8  )       1.54       2.89       (46.7  )
 Income from Discontinued Operations       -           0.20        (100.0 )       -          1.00       (100.0 )
 Net Income                                0.82        2.24        (63.4  )       1.54       3.89       (60.4  )
 Earnings Per Common Share - Diluted
 Income from Continuing Operations
 before Charges/Gains                      0.77        1.11        (30.6  )       1.77       3.11       (43.1  )
 Maxxium distribution gain                 0.08        -           -              0.08       -          -
 V&S auction process costs                 -           -           -              -          (0.03 )    -
 Maxxium investment write-down             -           (0.17 )     -              -          (0.33 )    -
 Accelerated Future Brands Deferred Gain   -           0.29        -              -          0.29       -
 Gain on Future Brands termination         -           0.94        -              -          0.92       -
 Tax-related credits                       -           -           -              -          0.64       -
 Asset impairment charges                  -           -           -              -          (2.01 )    -
 Beam Global minority interest repurchase  -           -           -              -          0.53       -
 Restructuring
 and restructuring-related items           (0.03 )     (0.16 )     81.3           (0.32 )    (0.27 )    (18.5  )
                                                                                  -          -          -
 Income from Continuing Operations         0.82        2.01        (59.2  )       1.53       2.85       (46.3  )
 Income from Discontinued Operations       -           0.20        (100.0 )       -          0.98       -
 Net Income                                0.82        2.21        (62.9  )       1.53       3.83       (60.1  )
 INCOME FROM DISCONTINUED
 OPERATIONS
 Income from Discontinued Operations in the three months and nine
 months ended September 30, 2008 consists primarily of income tax
 benefits related to a capital loss carry forward position associated
 with the disposal of our U.S. Wine business.

 RESTRUCTURING AND
 RESTRUCTURING-RELATED ITEMS
 The company recorded pre-tax restructuring and restructuring-related
 items of $8.1 million ($5.4 million after tax or $0.03 per diluted
 share) in the three-month period ended September 30, 2009. For
 Spirits, these charges relate to previously announced business
 repositioning including supply chain activities and route to market
 initiatives. For Home and Hardware, the charges relate to supply
 chain realignment, and capacity and cost reduction initiatives. For
 Golf, the charges relate to cost reduction initiatives and supply
 chain realignment.
 The company recorded pre-tax restructuring and restructuring-related
 items of $79.3 million ($49.8 million after tax or $0.32 per diluted
 share) in the nine-month period ended September 30, 2009. For
 Spirits, these charges relate to previously announced business
 repositioning including supply chain activities and route to market
 initiatives. For Home and Hardware, the charges relate to supply
 chain realignment, capacity and cost reduction initiatives and exit
 of a select low return product offering. For Golf, the charges
 relate to cost reduction initiatives and supply chain realignment.
 For Corporate, the charges relate to the disposal of corporate fixed
 assets.
                         Three Months Ended September 30, 2009
                         (In millions, except per share amounts)
                                       Restructuring-Related Items
                         Restructuring Cost of Sales Charges SG & A Charges  Total
 Spirits                 $      0.6    $       -             $       3.2     $      3.8
 Home and Hardware              0.8            0.9                   2.2            3.9
 Golf                           0.1            (0.2    )             0.5            0.4
 Total                   $      1.5    $       0.7           $       5.9     $      8.1
 Income tax benefit                                                                 2.7
 Net charge                                                                  $      5.4
 Charge per common share
 Basic                                                                       $      0.04
 Diluted                                                                     $      0.03
                         Nine Months Ended September 30, 2009
                         (In millions, except per share amounts)
                                       Restructuring-Related Items
                         Restructuring Cost of Sales Charges SG & A Charges  Total
 Spirits                 $      4.9    $       0.6           $       1.9     $      7.4
 Home and Hardware              16.8           23.6                  3.2            43.6
 Golf                           21.8           1.3                   1.5            24.6
 Corporate               $      3.7    $       -             $       -       $      3.7
 Total                   $      47.2   $       25.5          $       6.6     $      79.3
 Income tax benefit                                                                 29.5
 Net charge                                                                  $      49.8
 Charge per common share
 Basic                                                                       $      0.33
 Diluted                                                                     $      0.32
 RECONCILIATION OF FULL YEAR 2009
 EARNINGS TARGET TO GAAP
 For the full year, the company is currently targeting diluted EPS
 Before Charges/Gains from continuing operations to be in the range
 of $2.10 to $2.30 per share. On a GAAP basis, the company is
 currently targeting diluted EPS from continuing operations to be in
 the range of $1.60 to $1.80 per share.
 EPS Before Charges/Gains from continuing operations is Net Income
 calculated on a per-share basis excluding restructuring,
 restructuring-related and other one-time items.
 EPS Before Charges/Gains from continuing operations is a measure not
 derived in accordance with GAAP. Management uses this measure to
 evaluate the overall performance of the company and believes this
 measure provides investors with helpful supplemental information
 regarding the underlying performance of the company from
 year-to-year. This measure may be inconsistent with similar measures
 presented by other companies.

FORTUNE BRANDS, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(In millions)
(Unaudited)
                                          September 30,      September 30,
                                          2009               2008
    Assets
    Current assets
    Cash and cash equivalents             $      260.1       $      175.5
    Accounts receivable, net                     969.0              1,060.8
    Inventories                                  2,024.2            2,091.0
    Other current assets                         445.6              426.1
    Total current assets                         3,698.9            3,753.4
    Property, plant and equipment, net           1,463.5            1,613.5
    Intangibles resulting from
    business acquisitions, net                   6,867.3            7,656.1
    Other assets                                 302.0              316.9
    Total assets                          $      12,331.7    $      13,339.9
    Liabilities and Stockholders' Equity
    Current liabilities
    Short-term debt                       $      36.4        $      889.1
    Current portion of long-term debt            11.7               425.9
    Other current liabilities                    1,340.1            1,259.0
    Total current liabilities                    1,388.2            2,574.0
    Long-term debt                               4,428.4            3,484.6
    Other long-term liabilities                  1,430.0            1,612.3
    Total liabilities                            7,246.6            7,670.9
    Stockholders' equity                         5,071.0            5,654.1
    Noncontrolling interests                     14.1               14.9
    Total equity                                 5,085.1            5,669.0
    Total liabilities and equity          $      12,331.7    $      13,339.9

FORTUNE BRANDS, INC.
Reconciliation of Income Statement - GAAP to Before Charges/Gains
September 2009 - Third Quarter
$ - millions, except per share amounts
                                                      Restructuring  Tax credit/              Gain on        Accelerated    Maxxium       Before
                                                      and related    Discontinued Maxxium     Future Brands  Future Brands  Distribution  charges/
                                          GAAP        expenses       operations   write-down  termination    deferred gain  Gain          gains
                                          THIRD QUARTER
2009
Net Sales                                 1,717.9     -              -            -           -              -              -             1,717.9
Cost of goods sold                        893.4       (0.7   )       -            -           -              -              -             892.7
Excise taxes                              125.3       -              -            -           -              -              -             125.3
Advertising and SG&A                      484.7       (5.9   )       -            -           -              -              -             478.8
Amortization of intangibles               8.5         -              -            -           -              -              -             8.5
Restructuring expenses                    1.5         (1.5   )       -            -           -              -              -             -
Operating Income                          204.5       8.1            -            -           -              -              -             212.6
Interest expense                          55.1        -              -            -           -              -              -             55.1
Other expense/(income), net               (6.9    )   -              -            -           -              -              12.5          5.6
Income before taxes                       156.3       8.1            -            -           -              -              (12.5  )      151.9
Income taxes                              31.1        2.7            -            -           -              -              -             33.8
Income from Continuing Operations         125.2       5.4            -            -           -              -              (12.5  )      118.1
Net Income                                125.2       5.4            -            -           -              -              (12.5  )      118.1
Less: Net Loss attributable
to noncontrolling interests               1.1                                                                                             1.1
Net Income attributable to Fortune Brands 124.1       5.4            -            -           -              -              (12.5  )      117.0
Average Diluted Shares Outstanding        152.0                                                                                           152.0
Diluted EPS from Continuing Operations    0.82                                                                                            0.77
2008
Net Sales                                 1,921.8     -              -            -           -              -              -             1,921.8
Cost of goods sold                        1,006.5     (1.1   )       -            -           -              -              -             1,005.4
Excise taxes                              122.5       -              -            -           -              -              -             122.5
Advertising and SG&A                      494.6       (5.8   )       -            -           -              -              -             488.8
Amortization of intangibles               12.4        -              -            -           -              -              -             12.4
Restructuring expenses                    31.0        (31.0  )       -            -           -              -              -             -
Operating Income                          254.8       37.9           -            -           -              -                            292.7
Interest expense                          60.4        -              -            -           -              -              -             60.4
Other expense/(income), net               (285.1  )   -              -            (25.4 )     228.8          72.0           -             (9.7    )
Income/(Loss) before taxes                479.5   37.9   -        25.4   (228.8 )  (72.0 )      242.0
Income tax (benefit)/expense              171.4   13.3   -        -      (86.1  )  (27.1 )  -   71.5
Income/(Loss) from Continuing Operations  308.1   24.6   -        25.4   (142.7 )  (44.9 )  -   170.5
Income from Discontinued Operations       30.2    -      (30.2 )  -      -         -        -   -
Net Income                                338.3   24.6   (30.2 )  25.4   (142.7 )  (44.9 )  -   170.5
Less: Net (Income)/Loss attributable
to noncontrolling interests               2.4     -      -        -      -         -        -   2.4
Net Income attributable to Fortune Brands 335.9   24.6   (30.2 )  25.4   (142.7 )  (44.9 )  -   168.1
Average Diluted Shares Outstanding        151.9                                                 151.9
Diluted EPS from Continuing Operations    2.01                                                  1.11

FORTUNE BRANDS, INC.
Reconciliation of Income Statement - GAAP to Before Charges/Gains
September 2009 - Year to Date
$ - millions, except per share amounts
                                                                                                                 Gain on      Accelerated
                                                 Restructuring  Asset       Tax credit/              Minority    Future       Future         V&S          Maxxium       Before
                                                 and related    impairment  Discontinued Maxxium     interest    Brands       Brands         acquisition  Distribution  charges/
                                       GAAP      expenses       charges     operations   write-down  write-down  termination  deferred gain  costs        Gain          gains
                                       YEAR TO DATE
2009
Net Sales                              4,897.6   -              -           -            -           -           -            -              -            -             4,897.6
Cost of goods sold                     2,595.1   (25.5  )       -           -            -           -           -            -              -            -             2,569.6
Excise taxes                           350.0     -              -           -            -           -           -            -              -            -             350.0
Advertising and SG&A                   1,422.2   (6.6   )       -           -            -           -           -            -              -            -             1,415.6
Amortization of intangibles            25.2      -              -           -            -           -           -            -              -            -             25.2
Restructuring expenses                 47.2      (47.2  )       -           -            -           -           -            -              -            -             -
Operating Income                       457.9     79.3           -           -            -           -           -            -              -            -             537.2
Interest expense                       161.0     -              -           -            -           -           -            -              -            -             161.0
Other expense, net                     7.2       -              -           -            -           -           -            -              -            12.5          19.7
Income before taxes                    289.7     79.3           -           -            -           -           -            -              -            (12.5  )      356.5
Income taxes                           55.0      29.5           -           -            -           -           -            -              -            -             84.5
Income from Continuing Operations      234.7     49.8           -           -            -           -           -            -              -            (12.5  )      272.0
Net Income                             234.7     49.8           -           -            -           -           -            -              -            (12.5  )      272.0
Less: Net Loss attributable
to noncontrolling interests            3.4       -              -           -            -           -           -            -              -            -             3.4
Net Income attributable
to Fortune Brands                      231.3     49.8           -           -            -           -           -            -              -            (12.5  )      268.6
Average Diluted Shares Outstanding     151.7                                                                                                                            151.7
Diluted EPS from Continuing Operations 1.53                                                                                                                             1.77
2008
Net Sales                              5,823.3   -              -           -            -           -           -            -              -            -             5,823.3
Cost of goods sold                     3,083.9   (3.7   )       -           -            -           -           -            -              -            -             3,080.2
Excise taxes                           346.3     -              -           -            -           -           -            -              -            -             346.3
Advertising and SG&A                   1,524.4   (17.6  )       -           -            -           -           -            -              -            -             1,506.8
Amortization of intangibles            37.3      -              -           -            -           -           -            -              -            -             37.3
Asset impairment charges               324.3     -              (324.3 )    -            -           -           -            -              -            -             -
Restructuring expenses                 41.1      (41.1  )       -           -            -           -           -            -              -            -             -
Operating Income                       466.0     62.4           324.3       -            -           -           -            -              -            -             852.7
Interest expense                       179.2     -      -       -         -        -        -         -        -       -   179.2
Other expense/(income), net            (271.0 )  -      -       -         (50.5 )  -        228.8     72.0     (8.2 )  -   (28.9 )
Income before taxes                    557.8     62.4   324.3   -         50.5     -        (228.8 )  (72.0 )  8.2         702.4
Income taxes                           185.4     21.6   13.6    98.2      -        0.3      (86.1  )  (27.1 )  3.0     -   208.9
Income from Continuing Operations      372.4     40.8   310.7   (98.2  )  50.5     (0.3  )  (142.7 )  (44.9 )  5.2     -   493.5
Income from Discontinued Operations    152.5     -      -       (152.5 )  -        -        -         -        -       -   -
Net Income                             524.9     40.8   310.7   (250.7 )  50.5     (0.3  )  (142.7 )  (44.9 )  5.2     -   493.5
Less: Net (Income)/Loss attributable
to noncontrolling interests            (67.5  )  -      -       -         -        81.2     -         -        -       -   13.7
Net Income attributable
to Fortune Brands                      592.4     40.8   310.7   (250.7 )  50.5     (81.5 )  (142.7 )  (44.9 )  5.2     -   479.8
Average Diluted Shares Outstanding     154.5                                                                               154.5
Diluted EPS from Continuing Operations 2.85                                                                                3.11

FORTUNE BRANDS, INC.
Reconciliation of ROE based on Net Income attributable to Fortune
Brands Before Charges/Gains to
ROE based on GAAP Net Income attributable to Fortune Brands
September 30, 2009
Amounts in millions
(Unaudited)
                Rolling twelve months Net Income attributable to Fortune Brands      Average                   ROE based on Net Income attributable to
                Before Charges/Gains less Preferred Dividends                        Stockholders' Equity      Fortune Brands Before Charges/Gains
Fortune Brands  $ 365.5                                                         /    $5,075.0             =    7.2%
                Rolling twelve months GAAP Net Income attributable                   Average                   ROE based on GAAP Net Income
                to Fortune Brands less Preferred Dividends                           Stockholders' Equity      attributable to Fortune Brands
Fortune Brands  $ (50.5)                                                        /    $4,876.1             =    (1.0%)
Return on Equity - or ROE - Before Charges/Gains is net income
attributable to Fortune Brands less preferred dividends derived in
accordance with GAAP excluding any restructuring and non-recurring
items divided by the thirteen month average of GAAP common
stockholders' equity (total stockholders' equity less preferred
equity and non-controlling interests) excluding any restructuring,
restructuring-related items and other one-time items.
FORTUNE BRANDS, INC.
Reconciliation of ROIC based on Net Income attributable to
Fortune Brands Before Charges/Gains to
ROIC based on GAAP Net Income attributable to Fortune Brands
September 30, 2009
Amounts in millions
(Unaudited)
                Rolling twelve months Net Income attributable to Fortune Brands      Average                   ROIC based on Net Income attributable to
                Before Charges/Gains plus after-tax Interest Expense                 Invested Capital          Fortune Brands Before Charges/Gains
Fortune Brands  $ 506.1                                                         /    $9,740.3             =    5.2%
                Rolling twelve months GAAP Net Income attributable                   Average                   ROIC based on GAAP Net Income
                to Fortune Brands plus after-tax Interest Expense                    Invested Capital          attributable to Fortune Brands
Fortune Brands  $ 90.1                                                          /    $9,532.9             =    0.9%
Return on Invested Capital - or ROIC - Before Charges/Gains is net
income attributable to Fortune Brands plus after-tax interest
expense derived in accordance with GAAP excluding any restructuring
and non-recurring items divided by the thirteen month average of
GAAP Invested Capital (net debt plus stockholders' equity less
noncontrolling interests) excluding any restructuring,
restructuring-related and one-time items.
ROE From Continuing Operations Before Charges/Gains and ROIC From
Continuing Operations Before Charges/Gains are measures not derived
in accordance with GAAP. Management uses these measures to determine
the returns generated by the company and to evaluate and identify
cost-reduction initiatives. Management believes these measures
provide investors with helpful supplemental information regarding
the underlying performance of the company from year-to-year. These
measures may be inconsistent with similar measures presented by
other companies.

FORTUNE BRANDS, INC.
Reconciliation of Percentage Change in Comparable Net Sales to
Percentage Change in GAAP Net Sales
For the Three Months Ended September 30, 2009
(Unaudited)
                                                             Three Months Ended
                                                             September 30, 2009
          Fortune Brands
          Comparable Net Sales                               (11.4         %)
          Foreign currency exchange rates                    (1.8          %)
          Spirits excise taxes                               0.9           %
          Acquired and divested entities and product lines   0.6           %
          Third-party bottling contracts                     0.0           %
          Spirits Route-to-Market                            1.1           %
          Net Sales, GAAP basis                              (10.6         %)
          Spirits
          Comparable Net Sales                               (3.9          %)
          Foreign currency exchange rates                    (2.9          %)
          Spirits excise taxes                               1.2           %
          Acquisitions                                       2.2           %
          Third-party bottling contracts                     (0.1          %)
          Route-to-Market                                    3.6           %
          Net Sales, GAAP basis                              0.1           %
          Home & Hardware
          Comparable Net Sales                               (16.9         %)
          Foreign currency exchange rates                    (0.8          %)
          Divested entities and product lines                (0.2          %)
          Net Sales, GAAP basis                              (17.9         %)
          Golf
          Comparable Net Sales                               (7.0          %)
          Foreign currency exchange rates                    (2.5          %)
          Net Sales, GAAP basis                              (9.5          %)
          Comparable Net Sales is Net Sales derived in accordance with GAAP
          excluding changes in foreign currency exchange rates, spirits excise
          taxes, the net sales from acquired and divested entities and product
          lines, the impact of third-party bottling contracts, and the impact
          of required accounting related to Spirits route-to-market.
          Comparable Net Sales is a measure not derived in accordance with
          GAAP. Management uses this measure to evaluate the overall
          performance of the company, and believes this measure provides
          investors with helpful supplemental information regarding the
          underlying performance of the company from year-to-year. This
          measure may be inconsistent with similar measures presented by other
          companies.

SOURCE: Fortune Brands, Inc.

Fortune Brands, Inc. 
Media Relations: 
Clarkson Hine 
(847) 484-4415 
or 
Investor Relations: 
Tony Diaz 
(847) 484-4410