Successful Completion of Pernod Ricard’s US Dollar Bond Issuance US$1.5 Billion Due 2022

Regulatory News:

Press Release - Paris, 21 October 2011

Not for distribution directly or indirectly in the United States, Canada or Japan.

The distribution of this document in certain jurisdictions may be restricted by law. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.

This press release does not constitute an offer or an invitation to apply to purchase or subscribe to any securities either in the United States or in any other country. Securities may not be offered, subscribed to or sold in the United States unless they are registered or exempt from registration under the U.S. Securities Act of 1933, as amended. Pernod Ricard does not intend to register the offer detailed in this press release, in whole or in part, in the United States, and nor does it intend to carry out any public offer in the United States.

Amount: US$ 1.5 billion
Final maturity: January 15, 2022
Settlement: October 25, 2011
Format: Fixed rate
Coupon: 4.45%
Reoffer price: 99.746%
Margin over benchmark Treasury: +230 basis points
Reg S Notes: CUSIP F7061BAL4; ISIN USF7061BAL48
Rule 144A Notes: CUSIP 714264AD0 ; ISIN US714264AD02

Pernod Ricard (Paris:RI), whose long-term senior debt is rated Baa3 by Moody’s, BBB- by Standard & Poor’s and BB+ by Fitch, carried out Thursday 20 October a U.S. dollar denominated bond issuance by way of a private placement to institutional investors.

This transaction was highly successful, generating orders in excess of US$ 5.5 billion, allowing the Group to benefit from very favorable funding conditions, diversify its sources of financing and extend the maturity profile of its debt.

Gilles Bogaert, Managing Director in charge of Finance, stated: "We are very pleased with the outcome of this bond issue, which was carried out with particularly attractive financial conditions, only a few weeks after the Group’s rating was upgraded to ‘investment grade’ by both Moody’s and Standard & Poor’s. It is in keeping with a proactive management of our financing, particularly in US dollars, which has led to a reduction in bank funding to less than 45% of our debt.”

The net proceeds of the issuance will be used to repay portion of loans under the syndicated credit agreement.

J.P. Morgan, Barclays Capital Inc., Banco Bilbao Vizcaya Argentaria S.A., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Natixis Securities Americas LLC acted as lead managers for this bond issuance.

About Pernod Ricard

Pernod Ricard is the world’s co-leader in wines and spirits with consolidated sales of € 7,643 million in 2010/11. Created in 1975 by the merger of Ricard and Pernod, the Group has undergone sustained development, based on both organic growth and acquisitions: Seagram (2001), Allied Domecq (2005) and Vin & Sprit (2008).

Pernod Ricard holds one of the most prestigious brand portfolios in the sector: ABSOLUT Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Kahlúa and Malibu liqueurs, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek, Brancott Estate (formerly Montana), Campo Viejo and Graffigna wines.

Pernod Ricard employs a workforce of nearly 18,000 people and operates through a decentralised organisation, with 6 "Brand Companies” and 70 "Market Companies” established in each key market. Pernod Ricard is strongly committed to a sustainable development policy and encourages responsible consumption.

Pernod Ricard’s strategy and ambition are based on 3 key values that guide its expansion: entrepreneurial spirit, mutual trust and a strong sense of ethics.

Pernod Ricard is listed on the NYSE Euronext exchange (Ticker: RI; ISIN code: FR0000120693) and is a member of the CAC 40 index.

IMPORTANT NOTICE

NO COMMUNICATION AND NO INFORMATION IN RESPECT OF THE OFFERING BY PERNOD RICARD OF THE BONDS MAY BE DISTRIBUTED TO THE PUBLIC IN ANY JURISDICTION WHERE A REGISTRATION OR APPROVAL IS REQUIRED. NO STEPS HAVE BEEN OR WILL BE TAKEN IN ANY JURISDICTION WHERE SUCH STEPS WOULD BE REQUIRED. THE OFFERING OR SUBSCRIPTION OF THE BONDS MAY BE SUBJECT TO SPECIFIC LEGAL OR REGULATORY RESTRICTIONS IN CERTAIN JURISDICTIONS. PERNOD RICARD TAKES NO RESPONSIBILITY FOR ANY VIOLATION OF ANY SUCH RESTRICTIONS BY ANY PERSON.

THIS ANNOUNCEMENT DOES NOT, AND SHALL NOT, IN ANY CIRCUMSTANCES CONSTITUTE A PUBLIC OFFERING NOR AN INVITATION TO THE PUBLIC IN CONNECTION WITH ANY OFFER IN ANY JURISDICTION.

THIS ANNOUNCEMENT IS NOT A PROSPECTUS WITHIN THE MEANING OF DIRECTIVE 2003/71/EC OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF NOVEMBER 4, 2003 (AS IMPLEMENTED IN EACH MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, THE "PROSPECTUS DIRECTIVE”).

WITH RESPECT TO THE MEMBER STATES OF THE EUROPEAN ECONOMIC AREA THAT HAVE IMPLEMENTED THE PROSPECTUS DIRECTIVE (EACH, A "RELEVANT MEMBER STATE”), NO ACTION HAS BEEN UNDERTAKEN OR WILL BE UNDERTAKEN TO MAKE AN OFFER TO THE PUBLIC OF THE BONDS REQUIRING A PUBLICATION OF A PROSPECTUS IN ANY RELEVANT MEMBER STATE. AS A RESULT, THE BONDS MAY ONLY BE OFFERED IN RELEVANT MEMBER STATES:

(A) TO QUALIFIED INVESTORS (AS DEFINED BY THE PROSPECTUS DIRECTIVE, AND INCLUDING THE AMENDMENT TO DIRECTIVE 2010/73/EU AS FAR AS THIS AMENDMENT HAS BEEN ADOPTED BY THE RELEVANT MEMBER STATE); OR

(B) IN ANY OTHER CIRCUMSTANCES, NOT REQUIRING PERNOD RICARD TO PUBLISH A PROSPECTUS AS PROVIDED UNDER ARTICLE 3(2) OF THE PROSPECTUS DIRECTIVE.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL, OR A SOLICITATION OF OFFERS TO PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT”) AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATUS, OR TO OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT), ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACt. Pernod Ricard does not intend to register any portion of the proposed offering in the United States nor to conduct a public offering of securities in the United States.