JT M-vol.2

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1 Welcome to the Delight World Vol.2 F1 MEET YOUR DELIGHT

2 JT PLAN-V Q. JT PLAN-V Plan Plan JT PLAN-V 10 21

3 Welcome to the Delight World Vol. 2 Q. 10 Q.JT PLAN-V EBITDA 3,600 3,372 ROE 7% 4.7% ,500 EBITDA 2,300 1,889 Q.JT PLAN-V 1mg 6 32

4 Plan JT 3 3 Plan 2004 Q. 8171/3JT PLAN-V JT 4,000 Q. 43

5 Welcome to the Delight World Vol. 2 Q. JT PLAN-V JT PLAN-VPlan JT PLAN-V JT JT PLAN-VMA JT PLAN-V , ,850 JT PLAN-V3800 1=120 54

6 % %968 GFB 1 2.7% 565GFB 11.4%2, %1, %

7 Welcome to the Delight World Vol. 2 EBITDA 2 8.9%275 EBITDA % GFB 2 EBITDA= ,033 2,040 GFB 1,098 1,140 5,416 5,740 EBITDA GFB GFB ,800 1, ,000 11, ,0005,000 76

8 87 7 WTOJT JT WHOEU 3,150 JT International S.A. WTO

9 Welcome to the Delight World Vol JTE-522 FAP II II/III JTE-607 II I JTV-803 II I JTT-705 I II JTK-003 C II I JTK-109 C I I JTT-130 I I HIV HIV JTT

10 10 9

11 Welcome to the Delight World Vol

12 SHORT IS GOOD 515 8mg 70mm

13 Welcome to the Delight World Vol mm 5mg 0.4mg % 6/ / / /1 450g /1 408g

14 1 No. 1 No

15 Welcome to the Delight World Vol. 2 No.1 No JT No

16 F F1 3 F F1JT F st 16 15

17 Welcome to the Delight World Vol F1 Round A

18 MEET YOUR DELIGHT JT 5 JT 78 5No

19 Welcome to the Delight World Vol. 2 JT BSE 45 = JT

20 , MEET YOUR DELIGHT % 7% 8% 11% 12% 15% 20% 24% % 10% 12% 14% 17% 18% 20% JT 39% 35% 10% 7% 8% 35% 37% 13% 7% 8% 27% 31% 19% 12% 12% 20 19

21 Welcome to the Delight World Vol. 2 JT 15 JT % 3% 24% 72% JT % 8% 19% 71% 33% % JT 21 20

22 :0017:

23 Welcome to the Delight World Vol. 2 1,600 1, ,400 1,300 1,200 1, ,

24 :0017: JT :

JT.......M-vol.4

JT.......M-vol.4 Welcome to the Delight World 2003 10 12 Vol.4 JT 100 s MEET YOUR DELIGHT JT JT 2004 2004JT PLAN-V 1 6 2003 10 JT EU 4 GFB 21 Welcome to the Delight World Vol. 4 JT JT JT HIV JT JT 2004 2 JT PLAN-V 2004

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