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To: Ron McKinnon who wrote (47630)	4/8/2003 11:50:08 AM
From: Larry S.	Read Replies (1) of 53068

Court Blocks Ill. Award from Philip Morris Tuesday April 8, 11:43 am ET CHICAGO (Reuters) - An Illinois court on Tuesday temporarily blocked a $3 billion punitive damages award Philip Morris USA was ordered to pay the state in a class action suit over "light" cigarettes. Cook County Circuit Court Judge James Henry said Illinois had released any claims it could collect from the tobacco companies when it agreed to the 1998 Master Settlement Agreement between the states and the industry in issuing a temporary restraining order Tuesday. The order is in effect for 10 days. Madison County Illinois Circuit Court Judge Nicholas Byron ruled last month that Philip Morris USA deceived smokers into thinking "light" cigarettes were safer than regular cigarettes and ordered it to pay $7.1005 billion in compensatory damages and $3.0 billion in punitive damages. The punitive damages are earmarked for the state of Illinois, but the company said Illinois gave up claims to punitive damages when it entered into a Master Settlement Agreement with it and other U.S. tobacco companies in 1998 along with 45 other states. New York-based Philip Morris USA, part of Altria Group Inc. (NYSE:MO - News), has also asked Byron, to chop the $12 billion bond the company must post in order to appeal his verdict to $1.2 billion, or no more than $1.5 billion biz.yahoo.com the fact that MO got judge to agree to its main point on punative damage award likely bodes well on request for reduction in appeal bond, especially with other states chiding in on side of MO. looking to re-enter personally and Z. larry

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