Investor Slide Presentation dated November 19, 2008

Safe Harbor Statement

•

This presentation contains statements (including certain projections and business trends) that are “forward-looking

statements”

defined

the

Private

Securities

Litigation

Reform

Act

1995.

Words

such

“believe”,

“estimate”,

“project”,

“plan”,

“expect”,

“anticipate”,

“will”,

“intend”

and

other

similar

expressions,

may

identify

forward-looking

statements.

•

Actual results may differ materially from those projected as a result of certain risks and uncertainties, many of which are

beyond our control, including but not limited to:

–

economic and political changes in global markets where we compete, such as currency exchange rates, inflation rates, interest rates,

recession, policies of foreign governments and other external factors we cannot control, and U.S. and local laws affecting our activities

abroad and compliance therewith;

–

successful development of advanced technologies and demand for and market acceptance of new and existing products;

–

general global and regional economic, business or industry conditions, including levels of capital spending in industrial markets;

–

the availability, effectiveness and security of our information technology systems;

–

competitive product and pricing pressures;

–

disruption of our operations due to natural disasters, acts of war, strikes, terrorism, or other causes;

–

intellectual property infringement claims by others and the ability to protect our intellectual property;

–

our

ability

successfully

address

claims

taxing

authorities

the

various

jurisdictions

where

business;

–

our ability to attract and retain qualified personnel;

–

the uncertainties of litigation;

–

disruption of our North American distribution channel;

–

the availability and price of components and materials;

–

successful

execution

our

cost

productivity,

restructuring

and

globalization

initiatives;

–

our

ability

execute

strategic

actions,

including

acquisitions

and

integration

acquired

businesses;

and

–

other risks and uncertainties, including but not limited to those detailed from time to time in our Securities and Exchange Commission filings.

•

These forward-looking statements reflect our beliefs as of the date of filing this presentation. We undertake no obligation to

update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Notice Regarding Financial Information

•

This presentation contains non-GAAP financial information.

Reconciliations from GAAP to non-GAAP measures are contained in the

appendix of this presentation.

•

All information should be read in conjunction with the historical financial

statements contained in Rockwell Automation’s Annual Report on Form

10-K, periodic reports on Form 10-Q and Form 8-K, and public

announcements of financial information.

•

Copies of these reports, as well as a financial information overview, are

available on the Investor Relations section of Rockwell Automation’s

website at www.rockwellautomation.com.

Long Term Goal: Multiple of Global GDP

Long Term Goal: Double Digit EPS Growth

Long Term Goal: >20% ROIC

Long-Term Financial Goals

$3.6

$4.1

$4.6

$5.0

$5.7

2004

2005

2006

2007

2008

Consolidated Revenue ($B)

12%

19%

22%

24%

2004

2005

2006

2007

2008

Return on Invested Capital

Track Record of Delivering Superior Results

(1) Excluding special items

$1.65

$2.39

$2.87

$3.70

$4.11

2004

2005

2006

2007

2008

Earnings Per Share from Continuing

Operations

(1)

26% CAGR

12% CAGR

Global Environment

Y/Y Change (%)

Index

Source: IMF World Economic Outlook (October 2008).

Note: Regional aggregates compiled by Rockwell Automation based on Global Insight data.

Source: Global Insight World Industry Service (October 2008).

>50 Expansion

<50 contraction

Note: Regional aggregates compiled by Rockwell Automation based on Global Insight data.

Source: Global Insight World Industry Service (October 2008).

Note: Regional aggregates compiled by Rockwell Automation.

Source: The Markit Group; JPMorgan Chase; Bloomberg; Global Insight.

FY09 will be a More Challenging Year

Real GDP

Industrial Production

Nominal Cap Ex -

Mfg

Global Manufacturing PMI

Why RA is Well-Positioned

•

Strong Global Market Positions

•

Technology . . . Focused on Innovation

–

Logix evolution

–

Manufacturing convergence

•

Diversified Revenue Base

–

Expanded served markets/channels

–

Stronger solutions/services capability

–

Extended global footprint/presence in emerging markets

•

Financial Strength and Flexibility

–

Strong balance sheet

–

Cash generation

Differentiated, Strong, Durable . . . Positioned to Gain Share Through the Cycle

$700

2004

2005

2006

2007

2008

Process

•

Taking share from traditional DCS players

•

Building upon scalable Logix platform

(Multiple Control Discipline Core)

•

Extending into process safety, advanced

process control, asset management and

condition monitoring

•

Adding domain expertise -

globally

•

Sales growth of 27%; 57% with acquisitions

•

Winning larger projects at new customers

•

Integrating ICS Triplex and Pavilion

•

Benefiting from strategic relationships (E+H,

OSI)

•

$9B available market; 7.4% CAGR

•

Heavy industry and consumer

opportunities

•

Large market with attractive growth in all

regions

Source:???

Revenue

2008 Highlights

Strategy

Market Opportunity

40+% CAGR

Core Investments + Acquisitions Building Process Leadership and Depth

•

Deliver comprehensive suite (integrated,

modular and scalable)

•

Leverage RA manufacturing knowledge and

installed base

•

Deliver complete solutions for customers’

aging business systems

Industry applications for key verticals

Expand RA partner and delivery capability

•

Evolve software business model

Generate long term revenue stream

•

Winning at key new customers (e.g. Tata –

Nano)

•

Continued build-out of Factory Talk portfolio

generation

visualization

–

ViewPoint

Integrating Incuity and Pavilion offerings

•

Leveraging 3

parties for innovative solutions

Delmia –

Virtual Design and Production

Microsoft –

Visualization and Collaboration

OSISoft –

Historian

•

$4.3B available market; 12% CAGR

•

Highly fragmented, many small players

•

Replace internally developed systems

•

Customers value seamless information flow from

the plant floor to enterprise and supply chain

Design &

Configuration

Production

Management

Data

Management

Quality &

Compliance

Asset

Management

Performance

& Visibility

Information: FactoryTalk

Market Opportunity

Strategy

2008 Highlights

Large, Growing, Highly Fragmented Market . . . Positioning for the Future

RA & Cisco Response

Market Trends

Network Convergence

Broad adoption of Ethernet throughout

the Production Environment

•

Opportunities:

Simplified, Open,

Plant-wide Infrastructure

High performance, cost effective, secure

Multi-mode: Control, Data, Video, Voice,

Mobility, ...

•

Challenges:

IT vs. Production Culture Clash

IT’s emphasis on security

and manageability

Production’s emphasis on availability

and performance

•

Joint endorsement of EtherNet/IP

Standard-unmodified technology

Broad global adoption

•

Rockwell Automation and Cisco

Reference Architecture

Co-branded managed switches

•

Full portfolio of EtherNet/IP products

•

Expanding network services capabilities

RA and Cisco: Unique, Game-

Changing Relationship

$2,000

2004

2005

2006

2007

2008

Traditional

Intelligent

Intelligent Motor Control

•

Differentiated Intelligent Motor Control approach

Motor & process performance

Motor protection & reliability

Premier integration

•

Lead offering / large installed base in heavy

industries

•

Maintain / extend –

top 3 global position

•

Energy efficiency as a top business driver

•

Need for improved power quality and reliability

•

Increasing integration of power and control

•

Increased buying influence by OEMs

•

Infrastructure investments in emerging markets

•

Next generation PowerFlex platform

•

IEC-style IntelliCENTER MCCs

•

Integrated machine safety features and

ArcShield protection

•

Integrated Condition Monitoring

•

Regionalize production base

(China, Poland, Brazil, Mexico, …)

Improve Customers’

Energy Efficiency and Asset Utilization

Market Trends

Strategy

2008 Highlights

Revenue

53%

47%

18% CAGR

$2,000

2004

2005

2006

2007

2008

Solutions & Services

•

Leverage solutions and services to achieve

greater customer intimacy

•

Lead with consulting and assessments to build

recurring services revenues

•

Build repeatable applications to ensure quality

and productivity

•

Differentiate RA through global solution and

service excellence

•

$16B available market; approximately 8% CAGR

•

Customers outsourcing service and solution

delivery –

skilled labor shortage

•

Emerging markets have a greater need for

solutions and services capabilities

•

Sales growth of 29%

•

Greater than 40% organic growth in process

applications

•

Expanded the percentage of services

revenue that is under contract

Solutions & Services Becoming a Larger Portion of Revenue Base

Market Opportunity

Revenue

Strategy

2008 Highlights

18% CAGR

Repeatable Solutions for Industry

Specialty Chemical

•

Formulation & Mixing

•

Chemical Synthesis

Mining & Cement

•

Material Handling

•

Raw Mill & Kiln Control

•

Waste Fuel Control

Consumer Packaged Goods

•

Tracking & Tracing

•

Production Management

•

Clean In Place (CIP)

•

Batch Mixing & Blending

•

Brewhouse Automation

•

Fluid Routing

•

Energy & Combustion Control

Pulp & Paper

•

Digesters & Boilers

•

Tissue & Paper Machines

•

Printing

Life Sciences

•

Full MES & Compliance

•

Formulation & Filling

•

Solid Dosage Suite

Oil & Gas

•

On Shore Production Facilities

•

Safety/Critical Control Systems

•

Pipelines & Off Shore Platforms

Metals

•

Material Handling

•

Melting & Forming

•

Processing & Finishing

Automotive/Tire & Rubber

•

MES Systems

•

Body, Paint & Assembly

•

Mixers & Tire Machines

Power & Infrastructure

•

Flue Gas Scrubbing

•

Solar & Wind Power Generation

•

Alternative Energy

Repeatable Solutions: Reusable Engineering, Tools & Processes to Reduce Cost and Time

Domain Expertise to Deliver Industry-Specific Applications

Solutions Success Story

Demonstrates the Strength of Integrated Architecture Combined with Safety

Technology and Domain Expertise

A top three global Oil & Gas company

selects Rockwell Automation to upgrade

controls on turbo machinery driven

compressor station

•

Customer sought to take advantage of improved control

technologies to run turbines more efficiently and reliably.

•

Reliability, safety, sustainability and expertise were key factors in

source selection.

•

RA’s solution is built upon the Logix and Integrated Architecture

platform, with domain expertise provided by ICS Triplex personnel.

Value to Rockwell: Initial order $1M, with $10M

total potential

Stg.2

ACC

Stg.1

T6000 UNIT CONTROL

Suction Prot Anti-Surge Startup/Shutdown Capacity Cont Load Sharing Lube/Seal Contr

S*3

Lube Oil

Seal Gas

3 -

Press.

Overr.

Rockwell Automation earned largest-ever

order with a $37.1M contract from FedEx,

spanning products, solutions and

services

•

Upgrade of existing package handling systems at the

Tennessee superhub with the latest RA control platforms

and information technology.

•

RA will provide installation, project management, and risk

analysis/mitigation to ensure smooth cutover to new

system.

•

RA will deliver $4.5M of services, including 24/7 production

support, network services and custom training.

Solutions Success Story

Demonstrates the Power of a Broad Portfolio of Products, Solutions and Services

Expanding Services Portfolio

Lifecycle Parts Management

•

Complete Life Cycle Parts Services

(e.g. Storeroom Management)

Maintenance Services

•

Reliability & Maintenance Programs

(e.g. Condition Monitoring)

System Support & Optimization

•

Process Optimization Services

(Discrete, Process, Drive Systems)

•

Sustainability Services

•

Network Design Services

•

Safety Services

•

Remote Monitoring & Diagnostics

Transactional Services

Contract Services

Repair & Renewal Parts

•

Remanufacturing

•

Exchange Services

•

Legacy Product Support

Training

•

Instructor-led Training

•

Self-paced Training

On-Site Support

•

Troubleshooting, Repair

& Maintenance

Phone Support

•

Real-time Technical Support

•

Tiered Support Offerings

Assess & Consult

•

Evaluation of plant

floor technical skills,

procedures,

equipment operation,

spare parts inventory

Collaborating with Customers to Solve Business Challenges

Sustainable Production

•

Environment

–

Recovery and recycling

–

Raw material reduction and process optimization

–

Emissions monitoring and optimization

–

Responsible product and package design

•

Safety

–

Worker and machine safety

–

Community and process safety

–

Product and supplier quality

•

Energy

–

Energy efficiency through process improvements and conservation

–

Assist with energy recovery

–

Renewable energy alternatives

Cleaner . . . Safer . . . More Energy Efficient

Pavilion Improves Manufacturing Processes

Enhance Profitability

•

Increase Production

–

Unlock capacity

–

Maximize throughput

•

Reduce Manufacturing Costs

–

Use less energy per unit of output

–

Use less raw materials in production

•

Improve Product Quality

–

Minimize variability

–

Reduce deviation from specifications

•

Reduce Environmental Risk

–

Achieve active emissions compliance

–

Support emissions trading

Catalytic Acquisition Expands Process Capabilities

Sustainability Success Story

Coca-Cola retains Rockwell Automation for

Project esKO Energy Monitoring System

•

Objective

reduce

energy

consumption

and

emissions.

•

Project focuses on establishing a baseline energy monitoring

solution pilot to determine/quantify energy reduction opportunities

within the Coca-Cola system.

Value to Rockwell: $1.3M including power monitors,

Logix controllers, RSEnergyMetrix, turnkey services and

Endress+Hauser instrumentation.

Supports Coca-Cola’s Commitment to Growing its Business

Without Growing its Carbon Footprint

$500

2004

2005

2006

2007

2008

•

Leverage Logix platform to deliver integrated

machine and process safety solutions

•

Leverage ICS Triplex safety solutions to

expand RA opportunities in process

•

Expand product portfolio and organizational

competency

•

# 1 global market share position

•

Enhanced GuardLogix portfolio

•

Cedes Safety and Automation acquisition

expands light curtain offering

•

ICS Triplex launches AADvance, platform

wins InTech Innovation Award 2008

•

$3.2B available market; approx. 12% CAGR

•

Machinery: $1.8B market

•

Process: $1.4B market

•

Customer emphasis on social responsibility

and sustainability

•

Globalization of safety standards

Safety

Market Opportunity

Revenue

Strategy

2008 Highlights

51% CAGR

Well-Positioned to Extend Safety Market Leadership

23%

13%

50%

U.S.

Canada

EMEA

Globalization –

Responding to Market Shifts

Original

Goal:

50%

Revenue

Outside

U.S.

2009

–

Achieved

2008

Shanghai, China (3rd Factory)

•

Manufacturing, Application Engineering and Research Center

Singapore –

Asian Business Center

•

Manufacturing and Business HQ

Katowice, Poland

•

Manufacturing, Application Engineering, Shared Services Center and

Software Development

Monterrey, Mexico

•

Manufacturing and Application Engineering

2004 Incl. Power Systems

61%

18%

2008

New Goal: 60% of Revenue Outside of U.S. by 2013

$450

2004

2005

2006

2007

2008

Globalization –

Latin America

•

Q1 forecast solid; beyond Q1 less certain

–

Expect growth but lower than 2008

•

Execute on strategic initiatives

•

Realize revenue synergies from ICS Triplex and

Pavilion

•

$414M in sales, 14% growth ex-currency

•

Increased backlog 30%

•

Broadened customer base and expanded

sales coverage in region

•

Extended manufacturing footprint

•

Growth rates moderating but above global

averages

•

Resource-based industries strong; emerging

consumer market

•

Political and economic stability across vast

majority of region

•

Higher rates of inflation becoming a concern

Drive to Market Share Similar to U.S.

Market Overview

2008 Results

Revenue

2009 Outlook

26% CAGR

$800

2004

2005

2006

2007

2008

China,India,SE Asia

Other Asia

Globalization –

Asia Pacific

•

Economies will continue to expand, but at a

slower pace in 2009

•

Opportunity rich region across multiple

industries

•

Focus on optimizing core business and

realize portfolio expansion opportunities

–

Specific execution plans for key verticals

•

$717M in sales; 16% growth ex-currency

•

Improved infrastructure and business presence

–

Business leadership

–

Domain expertise

–

Local design and manufacturing

–

Channel / partner network

•

Continued to invest / position business for

long-term success

•

China and India continue to lead growth

•

Significant FDI continues to flow into the

region

Localizing Core Business Functions

Market Overview

Revenue

2008 Results

2009 Outlook

15% CAGR

$250

2004

2005

2006

2007

2008

Globalization –

China

•

Strong backlog going into 2009

•

Increased Logix penetration and adoption

•

Taking market share in process industries and

with OEMs

•

Continued investment in infrastructure and

market access

•

Benefit from Hengsheng acquisition and Hebei

strategic partnership

•

~$7B available market; 15% CAGR

•

Second largest market for Logix

•

Continued investment in infrastructure and

power centric industries

•

Emerging growth in consumer industries

•

Strong demand for energy efficient

solutions

•

>$200M in sales; 37% growth

–

Logix grew ~45%

•

30+% growth in systems/solutions led by

automotive, tire and oil & gas industries

•

Expanded manufacturing presence

•

Continued to invest/position business for

long term success

Poised to Gain Market Share

Market Overview

2008 Results

2009 Outlook

Revenue

24% CAGR

Acquisitions as a Catalyst

•

Largest

independent …

top 3 market

position

•

Highly scalable

technology …

complementary

to RA’s Logix

platform

•

Leading position

in Ireland and

Western Europe

•

Unique modular

construction

approach

•

Solvent recovery

systems

•

Outstanding IP

portfolio

•

Improves mfg.

profitability and

reduces risk

•

Value-First

customer

engagement

methodology

Process Safety

Solutions

Life Science

Application /

Delivery Expertise

Advanced Process

Control &

Optimization

Safety Light

Curtains

•

High quality

portfolio of

machinery safety

optoelectronics

products

•

Opportunity to

increase market

share at OEMs

Enterprise

Manufacturing

Intelligence (EMI)

•

Fills EMI gap in

our plant wide

information

strategy

•

Innovative data

model applicable

to MES and IA

evolution

Chinese Heavy

Industry Integrator

•

Electrical power

and heavy

process

experience

•

Serves fast

growing Mid /

West China

Rockwell Automation Growth Initiatives

Sustainability

Globalization

Safety

Information

Process

Why Rockwell?

•

Long-term sustainable growth

–

Automation markets have grown in excess of GDP growth

–

Expanding addressable market…Process, Safety, Information and Services

–

Emerging markets today…and as they transition to consumer economies

•

Diversification

–

Expanding product, solutions and services portfolio

–

End markets and applications

–

Geographic

•

Competitive differentiation

–

Technology leader…focused on innovation

–

Domain expertise

•

Financial strength

–

Strong balance sheet and cash flow generation

–

Best in class ROIC; an intellectual capital business

–

Strong operating margins over the cycle

A Superior Long-Term Investment

•

First long term maturity is in 2017

•

A-1, P-1 commercial paper rating

•

90% of debt is at fixed interest rates

Capital Structure

$100

$250

$200

2017

2028

2037

2098

Maturities

At 9/30/08

6.70%

6.25%

5.20%

5.65%

Debt / Capital

At 9/30/08

($ millions)

37%

Total Debt

63%

Shareowners’

Equity

Strong Balance Sheet / Solid Liquidity

•

Debt/Capital

37%

•

Net Debt/Capital

20%

•

Debt/EBITDA

1.0X

•

EBITDA/Interest Expense

15X

•

Dividends as % of FCF

37%

Global Environment

FY09 will be a More Challenging Year

Y/Y Change (%)

Index

Source: IMF World Economic Outlook (October 2008).

Note: Regional aggregates compiled by Rockwell Automation based on Global Insight data.

Source: Global Insight World Industry Service (October 2008).

>50 Expansion

<50 contraction

Note: Regional aggregates compiled by Rockwell Automation based on Global Insight data.

Source: Global Insight World Industry Service (October 2008).

Note: Regional aggregates compiled by Rockwell Automation.

Source:

The

Markit

Group;

JPMorgan

Chase;

Bloomberg;

Global

Insight.

Real GDP

Industrial Production

Nominal Cap Ex -

Mfg

Global Manufacturing PMI

2009 Guidance

Note: As of November 11, 2008

Revenue Growth

Excluding Currency Translation

Currency Translation

Segment Operating Margin

(1)

Diluted EPS

(1)

Free Cash Flow

(2)

(1)

2008 results exclude the impact of special charges

(2)

2009

includes

cash

outflow

the

FY08

restructuring

charges

2008 Results

2009 Outlook

$3.10 to $3.60

$4.11

1% to -

18%

15.0% to 16.5%

$458.3M

~90% of Net Income

Revenue Growth Excluding Currency

($ in millions)

2007

Sales

Effect of

Excluding

Changes in

Sales(a)

Currency

Currency(b)

Sales(c)

United States

730.7

(0.2)

730.5

709.9

Canada

99.8

(0.3)

99.5

96.4

Europe, Middle East, Africa

338.2

(21.6)

316.6

292.2

16%

Asia-Pacific

198.8

(1.7)

197.1

168.1

18%

17%

Latin America

116.8

(9.6)

107.2

103.9

12%

Total

1,484.3

(33.4)

1,450.9

1,370.5

2007

Sales

Effect of

Excluding

Changes in

Sales(a)

Currency

Currency(b)

Sales(c)

United States

2,850.8

(7.8)

2,843.0

2,687.0

Canada

396.4

(35.3)

361.1

341.1

16%

Europe, Middle East, Africa

1,319.0

(127.9)

1,191.1

1,054.2

25%

13%

Asia-Pacific

717.2

(32.2)

685.0

588.8

22%

16%

Latin America

414.4

(33.9)

380.5

332.8

25%

14%

Total

5,697.8

(237.1)

5,460.7

5,003.9

14%

2008

Revenue Growth

x-currency(b)/(c)

Revenue Growth

(a)/(c)

Revenue Growth

(a)/(c)

Revenue Growth

x-currency(b)/(c)

Three Months Ended September 30,

2008

Twelve Months Ended September 30,

Reconciliation to Non-GAAP Measures

Reconciliation to Non-GAAP Measures cont’d

Earnings

Per

from

Continuing

Operations

Excluding

Special

Charges

millions

except

per

amounts)

Quarter Ended

September 30,

2008

2007

2006

2005

2004

Income from continuing operations

125.6

577.6

569.3

529.3

447.7

316.1

Special charges, net of tax

30.4

27.7

Gain on sale of investment, net of tax

(12.0)

Income from continuing operations excluding special items

156.0

608.0

597.0

517.3

447.7

316.1

Diluted Earnings Per Share (EPS)

EPS from continuing operations

0.87

3.90

3.53

2.94

2.39

1.65

Special charges, net of tax

0.21

0.17

Gain on sale of investment, net of tax

(0.07)

EPS from continuing operations excluding special items

1.08

4.11

3.70

2.87

2.39

1.65

Average diluted shares

145.1

148.2

161.2

179.9

187.2

191.1

Quarter Ended

Year Ended

September 30,

2008

Cash provided by continuing operating activities

244.5

596.8

Capital expenditures of continuing operations

(48.2)

(151.0)

Tax payments related to the gain on divestiture

of Power Systems

0.2

7.9

Excess income tax benefit from the exercise

of stock options

0.7

4.6

Free cash flow

197.2

458.3

Free

Cash

Flow

millions)

Twelve Months Ended September 30,

Reconciliation to Non-GAAP Measures cont’d

Return

Invested

Capital

millions)

2008

2007

2006

2005

2004

(a) Return

Income from continuing operations before accounting change

577.6

569.3

529.3

447.7

316.1

Income from Power Systems discontinued operating activities

42.3

98.8

70.7

38.0

Interest expense (1)

68.2

63.8

58.4

45.8

41.7

Income tax provision (1)

231.3

246.6

263.3

218.6

84.0

Purchase accounting depreciation and amortization (1)

24.2

16.9

13.3

14.7

27.3

Special charges

46.7

43.5

Gain on sale of investment

(19.9)

Return

948.0

982.4

943.2

797.5

507.1

(b) Average Invested Capital

Short-term debt

325.1

404.0

115.6

0.4

3.6

Long-term debt

804.5

544.3

746.9

752.2

760.0

Shareowners' equity

1,798.5

1,959.9

1,691.9

1,870.1

1,689.2

Impairments of goodwill and intangibles

43.2

108.0

Accumulated amortization of goodwill and intangibles

619.0

632.5

682.5

659.7

645.4

Cash and cash equivalents

(728.0)

(678.8)

(353.2)

(471.7)

(339.8)

Average invested capital

2,819.1

2,905.1

2,991.7

2,918.7

2,866.4

Income tax provision (1)

231.3

246.6

263.3

218.6

84.0

Separately reported tax items in continuing operations

19.7

46.3

Income tax provision before separately reported tax items

231.3

246.6

263.3

238.3

130.3

Income from continuing operations and discontinued operating

activities before income taxes

808.9

858.2

891.4

737.0

438.1

Adjusted effective tax rate

28.6%

28.7%

29.5%

32.3%

29.7%

(a) / (b) * (1-c) Return On Invested Capital

24.0%

24.1%

22.2%

18.5%

12.4%

(1) Includes amounts related to both continuing and discontinued operations.

Twelve Months Ended September 30,

The following is a reconciliation of revenue growth excluding changes in currency to revenue growth for

our fiscal year 2008 results and our fiscal year 2009 outlook.

Revenue growth excluding changes in currency

1% to -

Currency translation

Revenue growth

14%

6% to -

10%

Fiscal Year 2009

Outlook

Fiscal Year 2008 Results

As Compared To

Fiscal Year 2007 Results

Reconciliation to Non-GAAP Measures cont’d

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)

($ in millions)

Twelve Months

Ended

September 30,

2008

Income from continuing operations

577.6

Interest expense

68.2

Provision for income taxes

231.3

Depreciation and amortization

136.5

EBITDA

1,013.6