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_,~ _. ~- _- ---_ 9 <br />An additional concern we have is PepsiCo`s continued support of and active involvement in <br />organizations fighting such initiatives, including Keep America Beautifiul and the National Soft <br />Drink Association. These groups are widely (and we believe justifiably) seen as having an <br />anti-environmental mission, and are working to oppose laws and regulations to protect the <br />environment, especially bottle deposits. <br />Moreover, we are concerned that the Coca-Cola Company, PepsiCo's main competitor, has <br />already set goals for container recycling and recycled content plastic. In addition, while Coca- <br />Cola uses recycled content plastic in at least five countries, it's our understanding that <br />PepsiCo does not use recycled content plastic anywhere. <br />The investment community is looking to PepsiCo's current management far bold action. Some <br />believe PepsiCo has seized the initiative on fronts such as 'New Age' and healthy beverages <br />that appeal to young people. A rapid and strong commitment by PepsiCo to these pro- <br />environmental policies could create a huge impact, and demonstrate that the company <br />has the boldness and foresight to grasp the baton of leadership and carry it to victory. <br />We hope you will consider the recycling proposal and direct PepsiCo management to come up <br />with exciting, innovative, conscientious policies that will benefit our company, our community, <br />and our habitat on which we are all ultimately dependent. <br />Sincerely yours, <br />PepsiCo Shareholders <br />and <br />Concerned Organizations <br />