cover introduction 2005 flavor forecast financial highlights, description and vision letter to shareholders board of directors consumer business industrial business Q&A with Bob Lawless McCormick worldwide & executive officers community service financial information notes to consolidated financial statements investor information back cover

financial highlights (continued) For the five years ended 11/30/04, McCormick's total annual shareholder return has exceeded the S&P 500 Stock Index and S&P 500 Food Products Index. McCormick & Company 20% S&P 500 Stock Index -2% S&P 500 Food Products Index 0%

McCORMICK & COMPANY 2004 ANNUAL REPORT