It also
involved a study of "best practices " from governments around the world to
glean lessons learned and develop an approach unique to the needs of the
Cayman Islands. Lucia,
St.

About CARTAC
Based in Barbados, the Caribbean Regional Technical Assistance Centre was
established in 2001 with a mission to enhance the institutional and human
resource capacities of countries in the Caribbean region to achieve their
macroeconomic, fiscal and monetary policy objectives.com.

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Consistent
with previous CARTAC/CaPFA workshops, emphasis will be placed on all
participants having the opportunity to share experiences and enhance working
relationships among public finance managers throughout the Caribbean. It also
involved moving to full accrual accounting to align government more closely
with commercial accounting practice, which is both more effective and provides
a better understanding of how government assets are utilized. PepsiAmericas manufactures, distributes and
markets a broad portfolio of Pepsi-Cola , and other national and
regional brands.

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Includes information about the Caribbean natural environment; as well as scientific activities specific to the region.

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About CaPFA
CaPFA was formed out of the CARTAC Public Finance Management Conference
held in Trinidad in February 2003.

PepsiAmericas Declares Dividend

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Vincent and the Grenadines, Suriname, Turks + Caicos Islands, British
Virgin Islands, and Trinidad + Tobago. The Portfolio of Finance +
Economics is responsible for fiscal management, policy-making and
administrative oversight related to public finances and maintains oversight of
Cayman's financial services industry, which encompasses banking, trust
services, company services, mutual funds, insurance, vessel registration,
capital markets products and the Cayman Islands Stock Exchange.

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The workshop is
part of a series organized and sponsored by CARTAC in conjunction with the
CaPFA. Kitts + Nevis, St. For more
information, visit http://www .
(NYSE:PAS) today announced that its Board of Directors declared a
quarterly dividend of $0. PepsiCo , Inc.

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Cayman Islands Government to Showcase Public Financial Reform and Management Expertise to Caribbean Finance Leaders

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The three-day event, co-hosted by Cayman's Portfolio of Finance +
Economics and CARTAC, in association with the Caribbean Public Finance
Association (CaPFA), will also focus on the Cayman Islands' experiences in the
area of financial reform; an initiative that Cayman began more than two years
ago.
Among the significant changes required to implement these reforms , were
new legislation, such as the Public Management and Finance Act, with "Fiscal
Responsibility " provisions, and upgrades to infrastructure, including a new
technology platform called the integrated financial management system (IRIS).
The Cayman Islands is also sharing its experiences from a broad management
perspective as to how the need for fiscal reform came about. CARTAC provides "on demand" technical
assistance to the governments of member countries in the areas of public
finance management, fiscal planning, taxation administration, financial sector
matters (banks, credit unions , insurance and securities) supervision, and
government financial statistics. Kitts in November 2004 .

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Kitts in
November 2004. For more information, visit
http://www.bb .1
percent equity interest in PepsiAmericas.

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"We want the
rest of the Caribbean to know and understand what worked for us, what benefits
can be realized, and what resources are necessary to undertake such an
initiative.cartac . Since then, CaPFA has worked with CARTAC to
hold regional workshops, including its inaugural conference , "Strengthening
Public Finance Management in the Caribbean" in St.085 per share on PepsiAmericas common stock.

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"Areas such as direct
foreign investment, infrastructure projects and increased social services can
all be tied to strong financial management -- it is a tenet of good
governance.

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archie cayman

That is, budgeting focused on what is actually produced, while
getting the best value for every dollar of public funds expended.
The dividend is payable April 1, 2005 to shareholders of record on
March 15, 2005.

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"
The workshop will allow participants, some of whom are already involved in
similar fiscal reform programs, to appreciate the implications and
applicability of Cayman's approach to their country's situation.
PepsiAmericas is the second largest Pepsi bottler with operations
in 19 states, Central Europe including Poland, Hungary, the Czech
Republic and Republic of Slovakia , and the Caribbean including Puerto
Rico, Jamaica, the Bahamas, Barbados, and Trinidad and Tobago .

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In Cayman's case,
it was a collective process, involving active commitment from political
leaders and civil servants, as well as members of the community.

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MINNEAPOLIS ----PepsiAmericas, Inc.

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"One of the key aims of the workshop is to share Cayman's reform
experience with participants as part of promoting further understanding about
the need for, and implications of financial management reform in the region,"
said Mr Peter Gough, Deputy Financial Secretary (Financial Management), Cayman
Islands Government, noting that all workshop presenters will be
representatives from various areas of Cayman's civil service. Cayman's experience was identified as a key learning opportunity after
its participation in the inaugural CaPFA Conference, held in St. It is funded by a number
of organizations, including the Canadian International Development Agency
(CIDA), the UK Department for International Development (DFID), the U.

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endangered emerged

About the Cayman Islands and the Portfolio of Finance + Economics
The Cayman Islands is a United Kingdom Overseas Territory located in the
northwestern region of the Caribbean Sea. As previously disclosed, the board reviews dividend
policy on a quarterly basis.

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"From our broad perspective, the effective management of public finances
can have many far-reaching benefits in addition to the general fiscal health
of government, which is an obvious one," said Mr Gough. With a population of more than
43,000, the country consists of three islands: Little Cayman, Cayman Brac and
Grand Cayman, the capital of which is George Town.

(NYSE:PEP) beneficially owns a 41.

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The organization shares
experience and current developments to increase public awareness of the
importance of efficient and effective public finance management through its
Web site, workshops, conferences, facilitation of professional attachments and
other activities.ky . In
total, PepsiAmericas serves geographic areas with a population of more
than 122 million people.

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"
Cayman's reform involved the introduction of comprehensive "output"
budgeting .gov.

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Cayman to Detail Benefits of Its Comprehensive Public
Financial Management Approach; Demonstrate 'Best Practices'

GEORGE TOWN, Grand Cayman, The Cayman Islands
Government 's financial management and reporting system is the featured case
study as more than 30 senior finance managers from 20 Caribbean countries
attend the Caribbean Regional Technical Assistance Centre (CARTAC ) workshop,
which began Tuesday in Grand Cayman at the Westin Casuarina Resort and Spa.
"While much progress has been made, there's still work to do to realize
our full vision," said Mr Gough , referring to the next phase of reform
involving personnel and public authorities, which will begin shortly.
Conference participants will be senior civil servants holding key public
finance management positions from such countries as: Anguilla, Antigua +
Barbuda, Bahamas, Barbados, Belize , Dominica, Dominican Republic, Grenada,
Grenadines, Guyana, Haiti, Jamaica, Montserrat, St.
CaPFA 's first aim is to further develop the professionalism of those involved
in public finance management in the Caribbean.

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CARTAC -- through its Public Finance Management Advisor Mr. Graeme Hansen
-- has organized the workshop and funded the participants.
Agency for International Development (USAID ), the World Bank, the European
Union, the International Monetary Fund (IMF), the Caribbean Development Bank
and the 20 countries of CARICOM.