Procter & Gamble

On March 1, the U.S. Securities and Exchange Commission (SEC) issued an Order with allegations against Mr. Gupta, who served as a member of P&G’s Board of Directors since 2007. There are no allegations against P&G.

Mr. Gupta voluntarily resigned from the P&G Board of Directors effective March 1. He has denied the SEC's accusations that are being leveled at him, but is stepping down in the interests of the Company to prevent any distraction to the P&G Board and our business. The U.S. Government is conducting these inquiries and we are cooperating fully.

The Company’s Worldwide Business Conduct Manual, which applies to all employees, officers and directors of the Company, prohibits disclosure of confidential Company information to third parties and also prohibits trading on the basis of material nonpublic information. Violation of these provisions of the Manual may result in disciplinary action and, in some circumstances, may result in fines or criminal penalties for individuals.