Evaluating New Markets

In evaluating new markets for Church & Dwight Company, Inc., we have looked into the country of Nigeria. Nigeria has been the subject of many reports by the United Nations regarding population growth. Pregnancy and sexually transmitted disease rates are elevated in this small country which is slightly larger than Texas, yet smaller than Alaska. We believe that the Trojan brand as well as the First Response brand could se significant sales and exposure within this environment.

Church & Dwight Co., Inc. is the world's leading producer of sodium bicarbonate. In 2001, Armkel, LLC, and Church & Dwight's 50/50 joint venture with the private equity group, Kelso & Company, acquired the remainder of the Carter-Wallace consumer products businesses, including such brands as TROJAN Condoms, NAIR Depilatories and FIRST RESPONSE Home Pregnancy and Ovulation Test Kits. Combining these products with the Company's existing product lines makes Church & Dwight one of the leading consumer packaged goods companies in the United States.

Nigeria is the most populous country in Africa and according to the United Nations, Nigeria has been undergoing explosive population growth and one of the highest growth and fertility rates in the world. By their projections, Nigeria will be one of the countries in the world that will account for most of the world's total population increase by 2050. According to current data, one out of every four Africans are Nigerian. Nigeria is the ninth most populous country in the world, and even conservative estimates conclude that more than 20% of the world's black population lives in Nigeria.

The Nigerian state came into being on October 1, 1960 when Nigeria declared its independence from the British and at present consists of 36 states and the federal capital territory. Nigeria re-achieved democracy in 1999 after a sixteen-year interruption by a series of military dictators. From 1966 until 1999, Nigeria had been ruled by military dictators who seized power in coup d'йtats and counter-coups.

Nigeria is a Democratic Republic