(FORTUNE Magazine) – [For the complete FORTUNE 500 list please visit www.fortune500.com]

Fastest-growing companies

Meager profits in 2002 made for easy comparisons in 2003, but for improvement over the longer term no one could beat Alcoa or Sealed Air, the inventor of Bubble Wrap.

GROWTH IN PROFITS 1 YEAR 2003 % RANK 500 REVENUES RANK growth in EPS

1 LEAR 129 2,821.1 2 XEROX 130 1,700.0 3 NORTHROP GRUMMAN 55 1,264.7 4 DEVON ENERGY 268 1,223.0 5 EMERSON ELECTRIC 144 793.1 6 CHEVRONTEXACO 6 550.5 7 VALERO ENERGY 34 513.3 8 LINCOLN NATIONAL 339 481.6 9 PRINCIPAL FINANCIAL 211 456.1 10 LONGS DRUG STORES 389 338.9 11 CHARLES SCHWAB 402 337.5 12 PUBLIC SVC. ENTERPRISE GROUP 176 333.3 13 J.P. MORGAN CHASE & CO. 26 305.0 14 CHUBB 174 245.7 15 SAKS 306 241.2 16 AMERICAN FINANCIAL GROUP 486 237.7 17 PPL 324 211.8 18 ST. PAUL COS. 227 195.7 19 USG 458 182.0 20 NEWMONT MINING 500 180.5 THE 500 MEDIAN 18.0

5 YEARS '98-'03 % annual RANK 500 REVENUES RANK growth in EPS

1 SEALED AIR 471 151.2 2 BALL 351 78.8 3 TIME WARNER 27 67.1 4 BURLINGTON RESOURCES 404 65.7 5 NVR 456 62.6 6 STRYKER 465 62.0 7 ADVANCEPCS 143 57.8 8 QUEST DIAGNOSTICS 366 56.1 9 TYSON FOODS 72 54.2 10 ST. PAUL COS. 227 53.4 11 CLEAR CHANNEL COMMUN. 229 53.1 12 HENRY SCHEIN 487 51.0 13 CONOCOPHILLIPS 7 50.0 14 RYLAND GROUP 481 47.8 15 RADIOSHACK 378 45.7 16 REEBOK INTERNATIONAL 477 42.1 17 QUALCOMM 434 40.6 18 W.R. BERKLEY 464 40.5 19 COUNTRYWIDE FINANCIAL 146 40.0 20 EXPRESS SCRIPTS 151 37.8 THE 500 MEDIAN 7.5

10 YEARS '93-'03 % annual RANK 500 REVENUES RANK growth in EPS

1 ALCOA 86 76.2 2 ENGELHARD 454 75.4 3 TIME WARNER 27 60.8 4 CAMPBELL SOUP 280 58.0 5 JOHNSON CONTROLS 79 55.9 6 MCGRAW-HILL 356 51.2 7 NEW YORK TIMES 499 49.7 8 QUALCOMM 434 41.6 9 PPG INDUSTRIES 236 39.3 10 ORACLE 208 38.5 11 CLEAR CHANNEL COMMUN. 229 38.0 12 EXPRESS SCRIPTS 151 36.8 13 DANAHER 338 36.3 14 ROSS STORES 447 34.3 15 STARBUCKS 425 33.9 16 OXFORD HEALTH PLANS 332 33.7 17 BED BATH & BEYOND 459 32.8 18 STAPLES 152 31.4 19 CISCO SYSTEMS 100 29.8 20 APACHE 413 27.5 THE 500 MEDIAN 9.4

GROWTH IN REVENUES

1 YEAR 2003 % growth RANK 500 REVENUES RANK in revenues 1 TRANSMONTAIGNE 249 6,136.9 2 CONSTELLATION ENERGY 203 106.3 3 WILLIAMS 98 104.9 4 COMCAST 89 70.7 5 CONOCOPHILLIPS 7 70.4 6 PEPCO HOLDINGS 270 68.1 7 DEVON ENERGY 268 67.2 8 WPS RESOURCES 395 64.6 9 APACHE 413 63.7 10 NORTHROP GRUMMAN 55 60.8 11 KINDER MORGAN ENERGY 283 56.3 12 COUNTRYWIDE FINANCIAL 146 53.9 13 FIDELITY NATIONAL FINANCIAL 262 51.8 14 AMGEN 246 51.3 15 BERKSHIRE HATHAWAY 14 50.8 16 PLAINS ALL AMERICAN PIPELINE 155 50.2 17 DUKE ENERGY 75 49.9 18 ENTERPRISE PRODUCTS 336 49.1 19 TIMKEN 444 48.5 20 BURLINGTON RESOURCES 404 45.4 THE 500 MEDIAN 7.3

5 YEARS '98-'03 % annual RANK 500 REVENUES RANK growth in revenues

1 TIME WARNER 27 76.0 2 SANMINA-SCI 188 70.3 3 LEVEL 3 COMMUNICATIONS 429 59.3 4 AMAZON.COM 342 53.9 5 CONOCOPHILLIPS 7 53.1 6 VALERO ENERGY 34 47.0 7 QWEST COMMUNICATIONS 136 46.1 8 CLEAR CHANNEL COMMUN. 229 45.9 9 FIDELITY NATIONAL FINANCIAL 262 43.0 10 NEXTEL COMMUNICATIONS 183 42.4 11 TESORO PETROLEUM 237 42.4 12 AMERISOURCEBERGEN 22 42.1 13 ECHOSTAR COMMUNICATIONS 327 41.4 14 COUNTRYWIDE FINANCIAL 146 40.5 15 MGM MIRAGE 419 39.9 16 L-3 COMMUNICATIONS 348 37.3 17 APACHE 413 36.8 18 SONIC AUTOMOTIVE 264 36.5 19 EXPRESS SCRIPTS 151 36.3 20 BERKSHIRE HATHAWAY 14 35.8 THE 500 MEDIAN 6.7

10 YEARS '93-'03 % annual RANK 500 REVENUES RANK growth in revenues

1 CISCO SYSTEMS 100 40.1 2 CARDINAL HEALTH 17 39.1 3 U.S. BANCORP 133 37.6 4 CENDANT 106 35.4 5 BERKSHIRE HATHAWAY 14 33.3 6 COMCAST 89 31.9 7 WASHINGTON MUTUAL 103 31.8 8 DELL 31 30.6 9 BEST BUY 78 30.2 10 SOLECTRON 167 30.2 11 CITIGROUP 8 30.1 12 EL PASO 154 30.1 13 AMERISOURCEBERGEN 22 29.6 13 LENNAR 230 29.6 15 VIACOM 64 29.5 16 STAPLES 152 27.9 17 UNITEDHEALTH GROUP 54 27.6 18 TECH DATA 111 27.5 19 TESORO PETROLEUM 237 26.4 20 BB&T CORP. 298 25.0 THE 500 MEDIAN 8.4

Most profitable companies

The 20 biggest earners accounted for 41% of last year's record $445.6 billion in profits.

PROFITS

RANK 500 REVENUES RANK 2003 $ millions

1 EXXON MOBIL 2 21,510.0 2 CITIGROUP 8 17,853.0 3 GENERAL ELECTRIC 5 15,002.0 4 BANK OF AMERICA CORP. 24 10,810.0 5 MICROSOFT 46 9,993.0 6 AMERICAN INTERNATIONAL GROUP 10 9,274.2 7 ALTRIA GROUP 15 9,204.0 8 WAL-MART STORES 1 9,054.0 9 SBC COMMUNICATIONS 33 8,505.0 10 BERKSHIRE HATHAWAY 14 8,151.0 11 FANNIE MAE 20 7,904.9 12 INTERNATIONAL BUSINESS MACHINES 9 7,583.0 13 CHEVRONTEXACO 6 7,230.0 14 JOHNSON & JOHNSON 30 7,197.0 15 MERCK 83 6,830.9 16 J.P. MORGAN CHASE & CO. 26 6,719.0 17 WELLS FARGO 49 6,202.0 18 INTEL 53 5,641.0 19 PROCTER & GAMBLE 28 5,186.0 20 CONOCOPHILLIPS 7 4,735.0 THE 500 MEDIAN 362.5

RETURN ON REVENUES 2003 profits as RANK 500 REVENUES RANK % of revenues

1 CONSECO 370 48.8 2 SLM 417 36.9 3 MICROSOFT 46 31.0 4 MERCK 83 30.4 5 GOLDEN WEST FINANCIAL 440 28.8 6 BURLINGTON RESOURCES 404 27.9 7 FIFTH THIRD BANCORP 287 27.1 8 AMGEN 246 27.0 9 APACHE 413 26.8 10 ANADARKO PETROLEUM 345 25.2 11 ORACLE 208 24.3 12 U.S. BANCORP 133 24.3 13 DEVON ENERGY 268 23.8 14 BANK OF AMERICA CORP. 24 22.5 15 NATIONAL CITY CORP. 206 22.1 16 US AIRWAYS GROUP 276 21.3 17 MEDTRONIC 263 20.9 18 QUALCOMM 434 20.8 19 WASHINGTON MUTUAL 103 20.8 20 SBC COMMUNICATIONS 33 20.8 THE 500 MEDIAN 4.6

RETURN ON SHAREHOLDER'S EQUITY 2003 profits as RANK 500 REVENUES RANK % of equity

1 US AIRWAYS GROUP 276 849.4 2 MAYTAG 361 182.5 3 AVON PRODUCTS 275 179.0 4 COLGATE-PALMOLIVE 196 160.2 5 CAMPBELL SOUP 280 153.7 6 AUTOZONE 331 138.5 7 NVR 456 84.8 8 CONSECO 370 81.6 9 ANHEUSER-BUSCH 142 76.6 10 GILLETTE 215 62.3 11 SARA LEE 104 59.5 12 SLM 417 58.3 13 AMERICAN STANDARD 240 56.2 14 YUM BRANDS 245 55.1 15 KELLOGG 233 54.5 16 SEARS ROEBUCK 32 53.1 17 OXFORD HEALTH PLANS 332 48.4 18 H.J. HEINZ 213 47.2 19 TENNECO AUTOMOTIVE 450 46.6 20 PITNEY BOWES 383 45.8 THE 500 MEDIAN 12.6

Most bang for the buck (or body)

American Airlines' parent had big revenues but a mere $46 million in equity.

REVENUES PER DOLLAR OF ASSETS RANK 500 REVENUES RANK 2003 $

1 TRANSMONTAIGNE 249 8.35 2 PLAINS ALL AMERICAN PIPELINE 155 6.00 3 SPARTAN STORES 496 5.85 4 FARMLAND INDUSTRIES 279 4.90 5 NASH FINCH 433 4.48 6 WINN-DIXIE STORES 162 4.36 7 CARMAX 435 4.32 8 KMART HOLDING 67 4.25 9 TECH DATA 111 4.17 10 INGRAM MICRO 81 4.13 11 AMERISOURCEBERGEN 22 4.12 12 OWENS & MINOR 406 4.05 13 MCKESSON 16 3.98 14 C.H. ROBINSON WORLDWIDE 467 3.97 15 BJ'S WHOLESALE CLUB 277 3.90 16 EXPRESS SCRIPTS 151 3.89 17 KELLY SERVICES 403 3.80 18 ADVANCEPCS 143 3.80 19 SYSCO 66 3.76 20 CAREMARK RX 221 3.66 THE 500 MEDIAN 0.88

REVENUES PER DOLLAR OF EQUITY

RANK 500 REVENUES RANK 2003 $

1 AMR 110 379.13 2 MAYTAG 361 72.81 3 TENNECO AUTOMOTIVE 450 64.93 4 CROWN HOLDINGS 282 47.35 5 US AIRWAYS GROUP 276 39.80 6 TRANSMONTAIGNE 249 39.19 7 GOODYEAR TIRE & RUBBER 137 34.33 8 SPARTAN STORES 496 29.69 9 NAVISTAR INTERNATIONAL 269 23.67 10 LEVEL 3 COMMUNICATIONS 429 22.24 11 AVAYA 401 21.69 12 WESCO INTERNATIONAL 490 19.59 13 AVON PRODUCTS 275 18.51 14 DELPHI 56 17.89 15 CAMPBELL SOUP 280 17.25 16 PLAINS ALL AMERICAN PIPELINE 155 16.86 17 FARMLAND INDUSTRIES 279 15.63 18 NASH FINCH 433 15.48 19 AES 204 15.43 20 KMART HOLDING 67 15.25 THE 500 MEDIAN 2.68

REVENUES PER EMPLOYEE

RANK 500 REVENUES RANK 2003 $ millions

1 HOST MARRIOTT 455 20.4 2 TRANSMONTAIGNE 249 12.4 3 FANNIE MAE 20 10.6 4 PLAINS ALL AMERICAN PIPELINE 155 8.9 5 PREMCOR 234 4.9 6 TIAA-CREF 68 4.5 7 NORTHWESTERN MUTUAL 115 3.8 8 ENTERPRISE PRODUCTS 336 3.6 9 AMERISOURCEBERGEN 22 3.5 10 MEDCO HEALTH SOLUTIONS 41 2.6 11 CALPINE 226 2.6 12 CONOCOPHILLIPS 7 2.5 13 TESORO PETROLEUM 237 2.4 14 EXXON MOBIL 2 2.4 15 MCKESSON 16 2.3 16 RELIANT RESOURCES 166 2.2 17 THRIVENT FIN. FOR LUTHERANS 284 2.1 18 ADVANCEPCS 143 2.1 19 NEW YORK LIFE INSURANCE 70 2.1 20 TECH DATA 111 2.0 THE 500 MEDIAN 0.3

Biggest companies

Wal-Mart's head count, which has doubled in seven years, is bigger than the population of 12 states.

BY MARKET VALUE

RANK 500 REVENUES RANK 3/1/04 $ millions

1 GENERAL ELECTRIC 5 329,239.8 2 MICROSOFT 46 288,692.9 3 PFIZER 25 281,603.2 4 EXXON MOBIL 2 281,048.7 5 WAL-MART STORES 1 264,118.1 6 CITIGROUP 8 260,219.7 7 INTEL 53 193,935.1 8 AMERICAN INTERNATIONAL GROUP 10 193,222.7 9 INTL. BUSINESS MACHINES 9 166,949.8 10 CISCO SYSTEMS 100 162,435.5 11 JOHNSON & JOHNSON 30 159,567.4 12 BERKSHIRE HATHAWAY 14 144,412.2 13 PROCTER & GAMBLE 28 134,678.1 14 COCA-COLA 91 121,644.0 15 BANK OF AMERICA CORP. 24 119,005.6 16 ALTRIA GROUP 15 118,173.6 17 MERCK 83 107,801.1 18 VERIZON COMMUNICATIONS 12 106,872.0 19 WELLS FARGO 49 97,923.9 20 CHEVRONTEXACO 6 96,494.9 THE 500 MEDIAN 8,263.8

BY EQUITY

RANK 500 REVENUES RANK 2003 $ millions

1 CITIGROUP 8 98,014.0 2 EXXON MOBIL 2 89,972.0 3 GENERAL ELECTRIC 5 79,180.0 4 BERKSHIRE HATHAWAY 14 77,596.0 5 AMERICAN INTERNATIONAL GROUP 10 71,000.0 6 PFIZER 25 65,377.0 7 VIACOM 64 64,122.3 8 MICROSOFT 46 61,020.0 9 TIME WARNER 27 56,038.0 10 BANK OF AMERICA CORP. 24 47,980.0 11 J.P. MORGAN CHASE & CO. 26 46,154.0 12 WAL-MART STORES 1 43,623.0 13 COMCAST 89 41,662.0 14 STATE FARM INSURANCE COS. 18 40,322.6 15 SBC COMMUNICATIONS 33 38,248.0 16 INTEL 53 37,846.0 17 HEWLETT-PACKARD 11 37,746.0 18 CHEVRONTEXACO 6 36,295.0 19 WELLS FARGO 49 34,469.0 20 CONOCOPHILLIPS 7 34,366.0 THE 500 MEDIAN 3,096.1

BY EMPLOYEES 2003 number RANK 500 REVENUES RANK of employees

1 WAL-MART STORES 1 1,400,000 2 MCDONALD'S 114 418,000 3 UNITED PARCEL SERVICE 42 355,000 4 TARGET 23 328,000 5 FORD MOTOR 4 327,531 6 GENERAL MOTORS 3 325,000 7 INTL. BUSINESS MACHINES 9 319,273 8 GENERAL ELECTRIC 5 305,000 9 HOME DEPOT 13 300,000 10 KROGER 19 289,000 11 CITIGROUP 8 275,000 12 SEARS ROEBUCK 32 249,000 13 J.C. PENNEY 43 216,000 14 KMART HOLDING 67 212,000 15 UNITED TECHNOLOGIES 51 203,300 16 VERIZON COMMUNICATIONS 12 203,065 17 ALBERTSON'S 38 200,000 18 FEDEX 82 190,918 19 DELPHI 56 190,000 19 HCA 85 190,000 THE 500 MEDIAN 26,000

Best investments

The market's rising tide lifted most boats but none more than network builder Avaya's.

TOTAL RETURN TO SHAREHOLDERS

1 YEAR RANK 500 REVENUES RANK 2003 %

1 AVAYA 401 428.2 2 OM GROUP 405 280.7 3 WILLIAMS 98 265.7 4 DYNEGY 316 262.7 5 CHARTER COMMUNICATIONS 358 240.7 6 SPARTAN STORES 496 231.1 7 TESORO PETROLEUM 237 222.3 8 AES 204 212.6 9 ALLMERICA FINANCIAL 494 204.7 10 NASH FINCH 433 196.2 11 ARMSTRONG HOLDINGS 495 194.6 12 KINDRED HEALTHCARE 479 186.4 13 SANMINA-SCI 188 180.6 14 AMAZON.COM 342 178.6 15 UNITED STATES STEEL 209 170.1 16 RYLAND GROUP 481 166.2 17 TEREX 437 155.7 18 D.R. HORTON 241 152.0 19 UNITED AUTO GROUP 235 152.0 20 RITE AID 128 146.5 THE 500 MEDIAN 32.0

5 YEARS '98-'03 annual RANK 500 REVENUES RANK rate %

1 NVR 456 57.8 2 QUALCOMM 434 53.0 3 QUEST DIAGNOSTICS 366 52.4 4 COVENTRY HEALTH CARE 386 48.9 5 RYLAND GROUP 481 44.3 6 ADVANCEPCS 143 43.3 7 ECHOSTAR COMMUNICATIONS 327 41.2 8 UNITEDHEALTH GROUP 54 40.2 9 CAREMARK RX 221 37.0 10 ENTERPRISE PRODUCTS 336 36.8 11 LENNAR 230 33.4 12 APACHE 413 30.8 13 KINDER MORGAN ENERGY 283 30.8 14 PACCAR 250 30.6 15 FOOT LOCKER 363 29.5 16 LEHMAN BROTHERS HOLDINGS 113 29.3 17 D.R. HORTON 241 29.1 18 MURPHY OIL 340 28.7 19 GOLDEN WEST FINANCIAL 440 28.2 20 PULTE HOMES 222 28.1 THE 500 MEDIAN 4.1

10 YEARS '93-'03 annual RANK 500 REVENUES RANK rate %

1 DELL 31 57.9 2 NVR 456 47.2 3 TIME WARNER 27 44.4 4 JABIL CIRCUIT 367 41.1 5 CDW 376 37.9 6 ROSS STORES 447 33.3 7 QUALCOMM 434 32.6 8 AUTONATION 97 30.2 9 INTERACTIVE 293 29.8 10 BEST BUY 78 29.8 11 CISCO SYSTEMS 100 29.7 12 KINDER MORGAN ENERGY 283 29.3 13 STRYKER 465 28.5 14 LENNAR 230 28.2 15 BOSTON SCIENTIFIC 478 28.2 16 STARBUCKS 425 28.1 17 EXPRESS SCRIPTS 151 27.4 18 UNITED STATIONERS 439 27.4 19 MICROSOFT 46 27.1 20 UNIVERSAL HEALTH SERVICES 462 26.7 THE 500 MEDIAN 10.5