BENCHMARKS REPORT

Industry Measure: Business Segment Data
| SIC: | 5984 |
| INDUSTRY: | LIQUEFIED PETROLEUM GAS (BOTTLED GAS) DEALERS |
| BENCHMARKS FOR THE INDUSTRY |
| NO. OF SEGMENTS REPORTING IN THE INDUSTRY: 14 |
|
1997 SALES FOR THE INDUSTRY: $ 7101 (Total Sales in $Millions) |
|
OPERATING MARGIN: 8.4 (Allocated Operating Profits (divided by) Segment Sales) |
|
ASSET INTENSITY: 134.4 (Allocated Assets (divided by) Segment Sales) |
|
SALES GROWTH: 10.3 (Compound 3-Year Growth Rate in Sales for the Median Participant in the Industry) |
| BENCHMARKS FOR THE TOP FOUR COMPETITORS |
| ROA: Allocated Operating Profits (divided by) Allocated Operating Assets |
| Competitor/Rank by Sales |
Market Share (% Ind. Sales) |
ROA |
| #1: REPSOL SA -ADR |
37.2 | 8.7 |
| #2: AMERIGAS PARTNERS -LP |
15.2 | 7.5 |
| #3: UGI CORP |
15.2 | 8.8 |
| #4: FERRELLGAS PARTNERS -LP |
11.3 | 10.5 |
| Total of #1-4: | 78.9 | 6.2 |