Philip Morris - A Stock For Wealth Or Poverty (MO) Message Board

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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)

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To: Jim Oravetz who wrote (6419)	4/28/2006 12:55:12 PM
From: Jim Oravetz	Read Replies (1) of 6439

Altria Reiterates Desire For Break-Up; Timing Uncertain April 27, 2006 9:41 a.m. By Mary Ellen Lloyd Of DOW JONES NEWSWIRES Altria Group Inc. (MO) reiterated its interest in breaking up into as many as three parts but said the timing of any move remains uncertain. "In 2005 we advanced our preparations for a potential restructuring of the company into two, possibly three standalone entities," Chairman and Chief Executive Louis Camilleri told shareholders Thursday at a meeting broadcast on the Internet. "As I have stated before, the timing and chronology of a restructuring are uncertain, and continued improvement in the litigation environment is a prerequisite to a restructuring. "Recent results reinforce our belief that the litigation climate continues to evolve favorably and that greater clarity is slowly but surely emerging," Camilleri said. Philip Morris USA, Altria's domestic tobacco operations and the No. 1 cigarette manufacturer in the U.S., received an "important favorable decision" in December with the Illinois Supreme Court's reversal of a $10.1 billion judgment in the Price case, he said. But the New York company, which is also the parent of Kraft Foods Inc. (KFT) and Philip Morris International Inc., and company watchers have also labeled as key rulings on the Engle class-action case in Florida and the U.S. government's racketeering case against the tobacco industry. "Any potential restructuring will proceed on our own timeline and we will not act prematurely," Camilleri said.

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