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-- "The available [scientific] evidence remains inconclusive" that mentholcigarettes confer a higher risk than non-mentholated cigarettes forsmoking-related diseases.
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-- "Recent studies did not find significant differences in risk fordisease between menthol and non-menthol smokers."
-- "Research on differences in cessation outcomes between menthol andnon-menthol smokers had conflicting results."
However the report's conclusion that Lorillard controls or alters thementhol levels in its products to promote smoking initiation or addiction iscategorically false.
Lorillard does not control levels of menthol to promote smoking amongadolescents and young adults. Furthermore, Lorillard does not engineer any ofits cigarettes to promote smoking initiation or nicotine addiction.Importantly, the target menthol specifications for Newport have not changed atall since 2000.
Lorillard is in the business of manufacturing cigarettes for sale to adultsmokers. The company wants every adult smoker who prefers menthol cigarettesto choose its Newport product. This is why Lorillard strives to make a productwith superior taste and consistency.
The company also rejects the report's conclusion that Lorillard targetsyouth smokers. The authors should know that pursuant to an agreement with thestate's Attorneys General, Lorillard does not advertise in magazines that havea youth readership of 15 percent or greater and/or a circulation of twomillion or more readers under 18 years of age. This is not a new policy andhas been in effect for years. Contrary to the report's assertion, while themagazine advertising expenditures for Newport may fluctuate from year to year,overall spending on magazine advertising has decreased over the last 10 years.
About Lorillard, Inc.
Lorillard, Inc. (NYSE: LO), the parent company of Lorillard TobaccoCompany, is the third largest manufacturer of cigarettes in the United States.Lorillard was founded in 1760, and is the oldest continuously operatingtobacco company in the U.S. Newport(R), Lorillard's flagship brand, is amenthol-flavored premium cigarette brand and the top selling menthol andsecond largest selling cigarette in the U.S. In addition to Newport, the
Lorillard product line has five additional brand families marketed under theKent(R), True(R), Maverick(R), Old Gold(R) and Max(R) brand names. These sixbrands include 44 different product offerings which vary in price, taste,flavor, length and packaging. Lorillard's manufactures all of its products atits Greensboro, North Carolina facility and maintains its headquarters there.
Forward-Looking Statements
Certain statements made in this press release are "forward-looking"statements within the meaning of the Private Securities Litigation Reform Actof 1995, or the Reform Act. Forward-looking statements include, withoutlimitation, any statement that may project, indicate or imply future results,events, performance or achievements, and may contain the words "expect","intend", "plan", "anticipate", "estimate", "believe", "will be", "willcontinue", "will likely result", and similar expressions. In addition, anystatement that may be provided by management concerning future financialperformance (including future revenues, earnings or growth rates), ongoingbusiness strategies or prospects, and possible actions by Lorillard, Inc. arealso forward-looking statements as defined by the Reform Act.
Forward-looking statements are based on current
