1JUGGLING IN A VOLATILE WORLD

JUGGLING IN A VOLATILE WORLD2011 National Treasurers Conference

Preliminary Program

The National Association of Corporate Treasurers June 1-3, 2011

Westin New York at Times Square Hotel

Dear NACT Colleagues:

On behalf of the NACT Board of Directors, I would like to invite you to attend the NACT’s flagship event this year in New York, NY, June 1-3, 2011. The National Treasurers Conference is a premier conference that brings together experts and practitioners to discuss and exchange ideas in an informal, candid, and confidential forum. Our outside speakers this year include The Honorable Gary Gensler, Chairman of the Commodity Futures Trading Commission, Jimmy Lee, Vice Chairman, JPMorgan Chase & Co., and co-Chairman, Investment Bank, Mike Cavanagh, Chief Executive Officer of JPMorgan Chase’s Treasury & Securities Services, and Ioana Barza, a Vice President and Senior Market Analyst at Thomson Reuters LPC. In addition, treasurers from major corporations in both the U.S. and Europe will share their recent experiences on topics that are relevant to your organization.

“Treasurers talking to treasurers” is how we create value for our membership. Please don’t miss this exceptional opportunity to attend the only financial conference that is developed exclusively by your fellow corporate treasurers. The Conference venue at the Westin New York at Times Square offers us excellent conference facilities for our business sessions during the day and access for our members to also conduct treasury business while in NYC.

As you review the program agenda, we invite your feedback for any aspects of the topic sessions that you would like emphasized. If you have an additional topic you would like to see addressed, we will at minimum, cover it during the Open Forum on the morning of the first day of the conference.

It has been an active year for the NACT Board of Directors. In addition to the planning of our two conferences and the hosting of several teleconferences, and a redesign of the NACT website, the Board remains active in advocacy efforts. An update on our efforts will be provided at the Conference.

We look forward to seeing you in June!

Scott MorrisonSenior Vice President and Chief Financial Officer, Ball CorporationChairman, NACT

and

Tom DeasPresident and National Conference Program Chair, NACTVice President & Treasurer, FMC Corporation

3JUGGLING IN A VOLATILE WORLD

NACT Board of Directors (July 2010-June 2011)

The NACT Board is comprised of member treasurers and acts in the best interests of the membership. All Board members are accessible to the NACT membership and feedback is welcomed on all NACT topics. The NACT Chairman represents the organization at the Annual Conference of the International Group of Treasury Associations, a global forum to share information on issues that impact the treasury and finance professions.

Board OfficersCHAIRMANScott Morrison Senior Vice President and Chief Financial OfficerBALL CORPORATION

PRESIDENT Thomas C. Deas, Jr. (2011 National Conference Chair)Vice President & TreasurerFMC CORPORATION

EXECUTIVE VICE PRESIDENT Kimberly A. Hunter Corporate TreasurerCORN PRODUCTS INTERNATIONAL, INC.

SECRETARY/TREASURERRamon YiSenior Director of FinancePORT OF HOUSTON AUTHORITY

IMMEDIATE PAST CHAIRMANBradley Fox Vice President & TreasurerSAFEWAY INC.

BOARD MEMBERSVictor R. Allen

David A. BassVice President & Treasurer GLOBAL OPERATIONS

George BittoVice President and TreasurerAIR PRODUCTS & CHEMICALS INC.

Jonathan ClarkExecutive Vice President & TreasurerSALLIE MAE, INC.

J. Gregory CoffeyVice President & TreasurerSALLY BEAUTY HOLDINGS, INC.

Patrick J. FlanaganVice President & Treasurer24 HOUR FITNESS WORLDWIDE

Michael J. Gannon

Gerard A. Halpin IIIPresident & Chief Executive OfficerSIEMENS CAPITAL COMPANY LLC

Mary Dean HallVice President and TreasurerEASTMAN CHEMICAL COMPANY

Richard LaidermanTreasurerVISA, INC.

Karen N. LathamTreasurerTTX COMPANY

Paulette M. MehasVice President, Treasury & InvestmentsFirst Republic Bank

William Mekrut Vice President & TreasurerFM GLOBAL

Mark W. PetersonSenior Vice President & TreasurerTHE SERVICEMASTER COMPANY

Ruud RoggekampAssistant Treasurer, Corp. Finance & BankingTHE BOEING COMPANY

Martin SchroeterTreasurerIBM

Erin SelleckExecutive Vice President & TreasurerUNION BANK

Irina Simmons Senior Vice President & TreasurerEMC CORPORATION

Rosa C. StrohVice President & TreasurerTHE HERSHEY COMPANY

William H. Van LopikVice President & Corporate TreasurerS.C. JOHNSON & SON, INC.

Juggling in a Volatile World

The National Association of Corporate Treasurers (“NACT”) continues to provide an unparalleled forum for education and networking to promote the success of our member Corporate Treasurers and their corporations. This year’s national conference is being held at the Westin New York at Times Square in New York, NY on June 1-3, 2011.

Volatility is the new baseline? Many corporate treasurers feel as though we’ve become jugglers, performing a balancing act where dropping even one ball can cause a major hit to the company. What better way to develop the resources and skills you need, not only to survive, but thrive, than by attending this national conference and listening to your fellow treasurers share their insights and opinions on the issues directly relevant to you?

• An Open Forum discussion among treasurers ONLY

• Thought-provoking sessions with:

- The Honorable Gary Gensler, Chairman of the Commodity Futures Trading Commission, who has led the effort to craft regulations implementing the Dodd-Frank Act

Highlights of the 2011 National Conference include:

- Jimmy Lee, Vice Chairman, JPMorgan Chase & Co., and co-Chairman, Investment Bank

- Mike Cavanagh, Chief Executive Officer of JPMorgan Chase’s Treasury & Securities Services

- Ioana Barza, Vice President and Senior Market Analyst at Thomson Reuters LPC

• Interactive panel discussions with market participants and other treasurers on:

- Loan Markets

- Defined Contribution Retirement Plans and Investments

- Derivative Regulation

• Dinner on Thursday June 2nd at the New York Stock Exchange

• Numerous networking opportunities

Due to the confidential nature of topics discussed and material presented, this Treasurers’ Conference is only open to NACT members and non-member Treasurers. It is “Treasurers Talking to Treasurers.” No vendors are permitted to attend program sessions and speakers who are non-treasurers are only present during their applicable sessions.

6 2011 National Treasurers Conference

The Honorable Gary GenslerChairman, Commodity Futures Trading Commission

Gary Gensler was sworn in as the Chairman of the Commodity Futures Trading Commission on May 26, 2009. Chairman Gensler previously served at the U.S. Department of the Treasury as Under Secretary of Domestic Finance (1999- 2001) and as Assistant Secretary of Financial Markets (1997-1999). He subsequently served as a Senior Advisor to the Chairman of the U.S.

Senate Banking Committee, Senator Paul Sarbanes, on the Sarbanes-Oxley Act, reforming corporate responsibility, accounting and securities laws.

As Under Secretary of the Treasury, Chairman Gensler was the principal advisor to Treasury Secretary Robert Rubin and later to Secretary Lawrence Summers on all aspects of domestic finance. The office was responsible for formulating policy and legislation in the areas of U.S. financial markets, public debt management, the banking system, financial services, fiscal affairs, federal lending, Government Sponsored Enterprises, and community development. In recognition of this service, he was awarded Treasury’s highest honor, the Alexander Hamilton Award.

Prior to joining Treasury, Chairman Gensler worked for 18 years at Goldman Sachs, where he was selected as a partner; in his last role he was Co-head of Finance. Chairman Gensler is the co-author of a book, The Great Mutual Fund Trap, which presents common sense investment advice for middle income Americans. He is a summa cum laude graduate from the University of Pennsylvania’s Wharton School in 1978, with a Bachelor of Science in Economics and received a Master of Business Administration from the Wharton School’s graduate division in 1979. He lives with his three daughters outside of Baltimore, Maryland.

Jimmy LeeVice Chairman, JPMorgan Chase & Co., and co-Chairman, Investment Bank

James B. Lee, Jr. is Vice Chairman of JPMorgan Chase & Co. and Co-

Chairman of JPMorgan – its Investment Bank. Mr. Lee ran Chemical’s and then Chase’s Investment Bank until 2001 and founded several of its major businesses. Mr. Lee has financed and advised on many of the most historic transactions in the United States over his 35 year career with JPMorgan Chase. During the last 12 months Mr. Lee advised GE on its pending $30 billion sale of NBC to Comcast, represented United Airlines in its merger with Continental Airlines, and most recently, led the JPMorgan team that led the General Motors IPO, the largest IPO in history. He is a member of Morgan’s Executive Committee.

Mr. Lee joined Chemical Bank in 1975 and held various assignments in specialist lending areas until 1980, when he founded and ran Chemical’s merchant bank in Australia.

Mr. Lee is widely credited as the architect of the modern day syndicated loan market. In 1982, he founded the bank’s loan syndications unit in New York, which was the beginning of Chemical’s and then Chase Manhattan’s investment banking business. Following Chemical’s merger with Manufacturers Hanover Trust Company, Mr. Lee founded the Bank’s first public securities business since Glass-Steagall, which was their high yield bond business. He simultaneously formed the bank’s first organized coverage of private equity firms as a stand alone industry group and subsequently started the bank’s first M&A practice in 1994. By organizing high yield with loan syndications and private equity coverage, and the newly formed M&A group, this led to a variety of market innovations which Chase pioneered.

Guest Speakers

7JUGGLING IN A VOLATILE WORLD

Mr. Lee himself has received many industry and national awards. Mr. Lee sits on several Boards and is active in certain charities. The two charities that are most important to him are the New York Police & Fire Widows’ and Children’s Benefit Fund and the Inner City Scholarship Fund.

Mr. Lee received a B.A. from Williams College, where he double majored in Economics and Art History.

Mike CavanaghChief Executive Officer of JPMorgan Chase’s Treasury & Securities Services

Mike Cavanagh was named Chief Executive Officer of JPMorgan

Chase’s Treasury & Securities Services unit in June 2010. As one of the world’s largest cash management providers and a market leader, TSS processes trillions of dollars of transfers daily and is also a leading global custodian.

Prior to being named CEO, Cavanagh was the Chief Financial Officer of JPMorgan Chase for six years. Prior to this role, he was head of Middle Market Banking and before that he was senior vice president and Chief Administrative Officer of Commercial Banking at Bank One as of February 2003, with added responsibilities as Chief Operating Officer for Middle Market beginning August 2003.

From 2001, Cavanagh was Treasurer for Bank One with responsibilities for funding, capital planning, asset and liability management and interest rate risk management. He joined Bank One in May 2000 as head of Strategy and Planning.

Before joining Bank One, Cavanagh spent seven years with Citigroup and its predecessors.

Cavanagh holds a Bachelor of Arts degree in history from Yale University and a Juris Doctor degree from the University of Chicago. Cavanagh is a trustee of the Economic Club of New York, and serves on the boards of the Alvin Ailey Dance Foundation and the Steppenwolf Theatre Company.

Ioana Barza Director of AnalyticsThomson Reuters LPC

As a Director of Analytics at Thomson Reuters LPC, Ioana Barza writes and presents

frequently on the state of the global credit markets with a special focus on loan capital markets to the regulatory, corporate borrower, banking, and private equity communities, including the International Association of Credit Portfolio Managers (IACPM), Federal Reserve, OCC, Turnaround Management Association, Association of Financial Professionals (AFP), Business Banking Board, LSTA, the Syndicated Loans Symposium, the Thomson Reuters Annual Loan Conference, Equity Sponsor Summits, and others.

Ms. Barza has been with Thomson Reuters LPC since 1999. She provides insight and analysis related to the global credit markets and moderates roundtables – a gathering of senior buyside and sellside representatives focused on investment grade lending, middle market lending, and the overall loan market.

Prior to joining Thomson Reuters LPC, Ms. Barza focused on environmental finance initiatives with the Environmental Protection Agency’s (EPA) Office of International Activities. She has also worked at the Overseas Private Investment Corporation (OPIC) in Washington, DC, evaluating the economic and environmental impacts of proposed overseas investments. Ms. Barza has a BA in environmental sciences and international relations from Northwestern University and a graduate degree in economics from the George Washington University.

8 2011 National Treasurers Conference

2011 National Treasurers Conference Open ForumModerators: Mark Peterson, Senior Vice President and Treasurer – The Service Master Company, and Mary Hall, Vice President and Treasurer – Eastman Chemical Company

Don’t miss the most popular session of our National Conference. This is your chance to share your knowledge and experience, as well as ask questions and gain insights from your fellow Treasurers on the latest financial topics. It all takes place in a candid, confidential, open forum setting.

New Financial Regulations: How Does This Affect Your Company?Moderator: Martin Schroeter, Vice President & Treasurer – IBM CorporationPanel Members: Scott Morrison, Senior Vice President and CFO – Ball Corporation; Brad Fox, Vice President & Treasurer – Safeway Inc.; Tom Deas, Vice President & Treasurer – FMC Corporation

Following an address by CFTC Chairman Gary Gensler on the implementation of the dozens of rules required under the Dodd-Frank Act, a panel of treasurers who have been active in the regulatory process will give their views and solicit input from members in attendance. We will address the questions:• What should treasurers be doing now to prepare their companies for the future?

• What will be the impact on capital structure, financing decisions, strategy, and risk management?

Defined Contribution Plans and InvestmentsPanel Members: Goldman Sachs, PIMCO, Russell With more and more defined benefit plans being frozen and immunized, defined contribution plans have become the vehicle of the future for delivering a secure retirement to our employees. What are the latest features being incorporated into DC plans? What about the use of annuities to deliver a DB-like steady monthly retirement income? Will target-date

funds really provide enough growth and stability for our retirees? What other investment choices should we consider?

Loan Syndications- Bankers’ PersepctiveModerator: George Bitto, Vice President & Treasurer – Air Products & Chemicals, Inc.Panel Members: Bankers from the leading loan syndication desksHow will the significant increase in maturing revolvers change companies’ debt portfolios? The impact of new bank structures, pricing grids, reduced number of banks, and bank appetite for credit.

Loan Syndications-Treasurers’ PerspectiveModerator: Kim Hunter, Corporate Treasurer – Corn Products International, Inc.

Hear treasurers who have recently completed renewals of their credit agreements share their experiences on structuring, bank appetites, multi-currency availability and other issues relevant to you.

Networking Events

Wednesday, June 1, 2011

Opening Conference Reception and Dinner Enjoy this first opportunity to network with other treasurers during a reception and dinner at the conference hotel.

Thursday, June 2, 2011

Reception and Dinner Enjoy a reception and dinner at the New York Stock Exchange. Relax, network and enjoy the evening!

Spouse and Guest RegistrationSpouses and guests may register for the complete spouse/guest package, which includes the Opening Reception, Thursday evening dinner event, and breakfast both mornings.

9JUGGLING IN A VOLATILE WORLD

AgendaJune 1-3, 2011

Wednesday, June 1

6:30 – 8:30 p.m. Opening Reception and Dinner

10:00 – 11:00 p.m. Hospitality Suite

Thursday, June 2

7:30 – 8:30 a.m. Networking Breakfast

8:30 – 12:30 p.m. Open Forum

10:30 – 10:45 a.m. Refreshment Break

12:30 – 2:00 p.m. Lunch and Guest Speaker – The Honorable Gary Gensler

2:00 – 3:00 p.m. New Financial Regulations – How Does This Affect Your Company

3:00 – 3:30 p.m. Refreshment Break

3:30 – 5:00 p.m. Defined Contribution Plans and Investments

6:00 – 10:30 p.m. Reception and Dinner at the New York Stock Exchange, with Jimmy Lee and Mike Cavanagh

10:30 – 11:30 p.m. Hospitality Suite

Friday, June 3

7:30 – 8:30 a.m. Continental Breakfast with Guest Speaker – Ioana Barza

8:30 – 9:45 a.m. Loan Syndications – Bankers’ Perspective

9:45 – 10:00 a.m. Refreshment Break

10:00 – 11:45 a.m. Loan Syndications – Treasurers’ Perspective

11:45 a.m. NACT Annual Membership Business Meeting

10 2011 National Treasurers Conference

Hotel Information

The Westin New York at Times Square270 West 43rd Street New York, NY 10036Phone: 212-201-2700Fax: 212-201-2701Reservations: 1-866-837-4183

ROOM RESERVATIONS

We have negotiated a NACT National Conference hotel room rate of $279 for standard rooms. All reservations must be made by May 1, 2011. To receive this special NACT conference rate, make your reservations directly with the Westin New York at Times Square at 1-866-837-4183. Be sure to tell them you will be attending the NACT 2011 National Conference. Please make your reservations today, as hotel rooms are reserved on a first-come, first-served basis.

REGISTRATION FORM

Registration is open to members, spouses/guests and non-member treasurers. Please print or type the information requested. Your badge name and company should appear as you want them to appear on your badge. Payment in full must accompany this registration form. Cancellations must be made in writing. Written notice of cancellations received at NACT headquarters by May 1, 2011 are entitled to a full refund, less a $250.00 service charge. Registration cancellations received on or after May 1, 2011 are nonrefundable. Please return this form along with payment to: National Association of Corporate Treasurers, 12100 Sunset Hills Road, Suite 130, Reston, VA 20190. Registrations can be faxed to 703-435-4390, or submitted online. If you are paying by credit card and fax your registration, please do not also mail the form—this may result in double payment.

Name _____________________________________________________Badge name_________________________________________________Title _______________________________________________________Company ___________________________________________________ Address ____________________________________________________City ___________________________ State ____________ Zip ________Phone _________________________ Fax _________________________Spouse/Guest ______________________________________________

Registration Fees p Member Registration* $1350(includes all meeting sessions, materials and social functions)

p Complete Spouse/Guest Meeting Registration Package $395

Total $ ______________

Paymentp Check enclosed for $ _________________ p Charge my registration at ______________ p VISA pMasterCard p AMEX

Name on card _______________________________________________

Card no. ___________________________ Expiration date ____________

Signature ___________________________________________________

EventsFor planning purposes, please identify the events you are likely to attend and how many individuals will be attending.Opening Reception (June 1) p Yes/# of people __________ p NoReception and Dinner (June 2) p Yes/# of people __________ p Noat NYSE

Meeting Registration: Three easy ways to register:1. Register through the NACT’s

website at www.nact.org2. Fax registration to: 703-435-43903. Mail registration to National

Association of Corporate Treasurers, 12100 Sunset Hills Road, Suite 130, Reston, VA 20190

Registration Fee: $1350.00 for NACT Members

New Members to the NACT – Receive Your First Year of Membership Free

If you are not a member of the NACT, register for the 2011 National Conference at the member rate of $1350 and receive a free one-year membership in the NACT, effective July 1, 2011 – June 30, 2012.

Registration Fees Include:Breakfast, lunch and dinners and all conference materials. Attendees are responsible for making their own hotel reservations.

Spouses and Guests Registration:Complete Spouse/Guest Package Fee: $395.00 - includes breakfasts and both evening event(s)

Conference Attire: Dress for the entire meeting, including the social functions, is business casual.

Cancellation Policy: Written notice of cancellations received at NACT headquarters by May 1, 2011 are entitled to a full refund, less a $250.00 service charge. Registration cancellations received on or after May 1 are nonrefundable.

Disability Needs:NACT wants to do everything possible to ensure you receive the full value of participating in this important event. If you or your guest has any special needs due to disability or special dietary requirements, please indicate that fact on the registration form or call NACT headquarters at 703-437-4377.