New Study Validates Natural Cork's Green Credentials

SANTA MARIA DE LAMAS, PORTUGAL, January 15, 2009 - Corticeira Amorim, the world's leading producer of natural cork wine stoppers, recently issued the results of an independent study by PricewaterhouseCoopers. The study clearly shows the environmental superiority of natural cork stoppers over alternative wine closures.

The year-long study found that CO2 emissions - a key factor in global warming - resulting from the life cycle of a screwcap are 24 times higher than those from a natural cork stopper, while a plastic stopper is responsible for 10 times more CO2 than a natural cork.

"Our objectives in the study were to identify opportunities to improve the environmental performance of cork stoppers and provide the wine industry with detailed figures in relation to the full environmental impact of different closures," said Amorim Chairman & CEO António Amorim. "Now, after a rigorous independent external critical review, we are able to publish the results of this study."

The study found that CO2 emissions during the life cycle (production, transport, associated packaging and end of life) of 1,000 cork stoppers amounts to 1,533g of carbon dioxide equivalent (CO2e) over 100 years, while the figure for plastic stoppers is 14,833g of CO2e per 1,000 stoppers and for screwcaps 37,172g of CO2e per 1,000 stoppers.

The figure (for both cork and plastic stoppers) includes allowance for the transport of he corks from Portugal, plastic stoppers from Belgium, and aluminum closures from France to the UK for bottling. The figure also accounts for the use of a PVC capsule for bottles sealed with a natural cork or synthetic closure.

The study included analyses of seven key environmental indicators: the emission of greenhouse gases; consumption of non-renewable energy; consumption of water; contribution to the acidification of the atmosphere; contribution to the deterioration of the ozone layer; contribution to eutrophication (nutrient buildup); and production of solid waste.

Cork stoppers emerged as the best alternative against six indicators and were placed second, behind aluminum closures, in relation to water consumption. The PricewaterhouseCoopers study underwent a critical review by three independent entities, including a life cycle analysis expert, and was conducted in line with ISO 14040 and 14044 standards. Under these standards, the least favorable scenario for the sponsor of the study (Corticeira Amorim) was taken at all times. In addition, the analysis did not consider the environmental impacts associated with the process of transforming aluminum into screwcaps and raw materials into plastic stoppers.

In 2006 and 2007 Corticeira Amorim prepared sustainability reports that highlighted the crucial role of cork forests in carbon dioxide retention, preserving biodiversity and combating desertification as well as the role of cork manufacturing in sustainable development.

Mr. Amorim said commissioning the life cycle analysis added to the company's strong knowledge base on sustainability issues relating to its products. "Many sectors of the global wine industry are working hard to reduce their environmental impact. This study again highlights the role that natural cork can play in that process," he said.

"Natural cork is the only closure option for winemakers, distributors and retailers who want to minimize their carbon footprint and adopt best practices in relation to environmental performance. We are their natural CO2-retention partner in these efforts."

The full 2008 PricewaterhouseCoopers life cycle analysis report and a summary presentation are available at www.corkfacts.com and www.amorim.com