MOP Mincorp

Altria Group Inc

Executives from the tobacco operating companies of Altria Group, Inc. (NYSE:MO),
Andre Calantzopoulos, president and chief executive officer of Philip Morris
International Inc. (PMI), and Michael E. Szymanczyk, chairman and chief
executive officer of Philip Morris USA Inc. (PM USA), appeared today at the
Consumer Analyst Group of New York (CAGNY) Conference in Scottsdale, AZ.

An audio webcast of both presentations is available beginning at approximately
10:15 a.m. eastern time on February 19, 2004, at www.altria.com. An archived
copy of the webcast and the texts of the presentations will be available until
5:00 p.m. on Friday, March 19, 2004, at www.altria.com.

In connection with the presentations, Altria Group, Inc. reaffirmed its
previously stated projection for diluted earnings per share in a range of $4.57
to $4.67 for the full-year 2004, which includes a $0.23 reduction for
anticipated charges related to Kraft's restructuring program and other charges.

In his review of the company's international tobacco business, Mr.
Calantzopoulos said, "Our situation in Western Europe remains challenging, but
we are addressing the key issues and expect increased stability through the
course of the year. While our business continues to grow strongly in many
Eastern European and Asian markets, our volume performance should also be
enhanced by new Marlboro initiatives, continued L&M expansion and the growth of
our differentiated international brands."

"We believe we can generate organic volume growth of approximately 3%, and
including acquisitions, we expect reported volume to grow 5% this year," Mr.
Calantzopoulos said. "At current exchange rates, we project double-digit
operating companies income growth for 2004. In addition to favorable currency,
this projection reflects higher volumes and pricing, and productivity savings.
Our plans this year also include increased investments in marketing, research
and development, and systems that will support future growth."

In domestic tobacco, Mr. Szymanczyk said, "We are pleased with the progress we
made in 2003 and we plan to build on those gains in 2004."

"I believe we have the right combination of great people, the best brands and
superior infrastructure to make progress against our mission in a way that
benefits all of our stakeholders," Mr. Szymanczyk said. "For investors, I
believe that we will continue to successfully manage our value equations to
deliver moderate retail share growth and operating companies income growth in
the low single digits this year."

Mr. Szymanczyk also said, "We continue to make a considerable investment to
develop, commercialize, scientifically evaluate and launch products that
potentially reduce adult smokers' exposure to harmful compounds in cigarette
smoke. We hope to test a product that potentially reduces such exposure later
this year."

The factors described in the Forward-Looking and Cautionary Statements section
of this release represent continuing risks to these projections.

Altria Group, Inc. Profile

Altria Group, Inc. is the parent company of Kraft Foods Inc., with 84.6%
ownership of outstanding Kraft common shares, Philip Morris International Inc.,
Philip Morris USA Inc. and Philip Morris Capital Corporation. In addition,
Altria Group, Inc. has a 36% economic interest in SABMiller plc, the world's
second-largest brewer. The brand portfolio of Altria Group, Inc.'s consumer
packaged goods companies includes such well-known names as Kraft, Jacobs, L&M,
Marlboro, Maxwell House, Nabisco, Oreo, Oscar Mayer, Parliament, Philadelphia,
Post and Virginia Slims. Altria Group, Inc. recorded 2003 net revenues of $81.8
billion.

Forward-Looking and Cautionary Statements

This press release contains projections of future results and other
forward-looking statements that involve a number of risks and uncertainties and
are made pursuant to the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995. The following important factors could cause
actual results and outcomes to differ materially from those contained in such
forward-looking statements.

Altria Group, Inc.'s consumer products subsidiaries are subject to unfavorable
currency movements; intense price competition; changes in consumer preferences
and demand for their products; changing prices for raw materials; fluctuations
in levels of customer inventories; and the effects of foreign economies and
local economic and market conditions. Their results are dependent upon their
continued ability to promotebrand equity successfully; to anticipate and
respond to new consumer trends; to develop new products and markets and to
broaden brand portfolios in order to compete effectively with lower-priced
products; to improve productivity; and to respond effectively to changing prices
for their raw materials.

Altria Group, Inc.'s tobacco subsidiaries (Philip Morris USA and Philip Morris
International) continue to be subject to litigation, including risks associated
with adverse jury and judicial determinations, courts reaching conclusions at
variance with the company's understanding of applicable law, bonding
requirements and the absence of adequate appellate remedies to get timely relief
from any of the foregoing; price disparities and changes in price disparities
between premium and lowest-price brands; legislation, including actual and
potential excise tax increases; increasing marketing and regulatory
restrictions; the effects of price increases related to excise tax increases and
concluded tobacco litigation settlements on consumption rates and consumer
preferences within price segments; health concerns relating to the use of
tobacco products and exposure to environmental tobacco smoke; governmental
regulation; privately imposed smoking restrictions; and governmental and grand
jury investigations.

Altria Group, Inc.'s consumer products subsidiaries are subject to other risks
detailed from time to time in its publicly filed documents, including its Annual
Report on Form 10-K for the period ended December 31, 2002, and its Quarterly
Report on Form 10-Q for the period ended September 30, 2003. Altria Group, Inc.
cautions that the foregoing list of important factors is not complete and does
not undertake to update any forward-looking statements that it may make.


Altria Group, Inc.
Timothy R. Kellogg, 917-663-2759

Mincorp (LSE:MOP)
Historical Stock Chart
From Jun 2024 to Jul 2024

Mincorp (LSE:MOP)
Historical Stock Chart
From Jul 2023 to Jul 2024