GREENSBORO, N.C., June 10 /PRNewswire-FirstCall/ -- Lorillard Inc., (NYSE: LO), the third largest manufacturer of cigarettes in the United States, today announced it will begin trading its shares on the New York Stock Exchange under the ticker symbol 'LO.'

Loews Corporation had owned 100 percent of Lorillard since 1969 when its predecessor purchased the old P. Lorillard Company. In 2002 Loews issued a tracking stock, Carolina Group (NYSE: CG), to track the financial performance of certain assets and liabilities which primarily consisted of Loews' ownership interest in Lorillard. Over time Loews sold approximately 62% of Carolina Group shares to the public. In December 2007 Loews Corporation announced its plans to distribute its entire ownership interest in Lorillard to holders of Carolina Group stock and Loews Corporation common stock.

'This is a great day for all Lorillard employees and shareowners, as together we begin to write the next successful chapter of our history,' said Martin Orlowsky, Chairman, President and CEO, Lorillard, Inc. 'As an independent company we are now able to more effectively pursue our growth strategy and opportunities unique to our markets. However, our core strategy will not change. We will continue to leverage our flagship brand, Newport, which is the top selling menthol and second largest selling cigarette brand overall in the United States. In addition, we'll continue to focus on operational excellence, which has already resulted in industry-leading relative profitability. By executing our strategy and pursuing the right opportunities, we believe that we can generate outstanding long-term shareholder value.'

Additional information concerning the separation of Lorillard from Loews, including a copy of the Form S-4 Registration Statement, is available at www.lorillard.com.

About Lorillard, Inc.

Lorillard, Inc. (NYSE: LO) is the third largest manufacturer of cigarettes in the United States. Lorillard was founded in 1760, and is the oldest continuously operating tobacco company in the U.S. Newport(R), Lorillard's flagship brand, is a menthol-flavored premium cigarette brand and the top selling menthol and second largest selling cigarette in the U.S. In addition to Newport, the Lorillard product line has five additional brand families marketed under the Kent(R), True(R), Maverick(R), Old Gold(R) and Max(R) brand names. These six brands include 44 different product offerings which vary in price, taste, flavor, length and packaging. Lorillard's manufactures all of its products at its Greensboro, North Carolina facility and maintains its headquarters there. For more information, visit the Company's web site at www.lorillard.com.

Forward-Looking Statement:

Certain statements made in this press release are 'forward-looking' statements within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act. Forward-looking statements include, without limitation, 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', 'will continue', 'will likely result', and similar expressions. In addition, any statement that may be provided by management concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible actions by Lorillard, Inc. are also forward-looking statements as defined by the Reform Act.

Forward-looking statements are based on current expectations and projections about future events and are inherently subject to a variety of risks and uncertainties, many of which are beyond the control of Lorillard, Inc., that could cause actual results to differ materially from those anticipated or projected. Information describing factors that could cause actual results to differ materially from those in forward-looking statements is available in Lorillard, Inc.'s filings with the Securities and Exchange Commission. These filings are available from the SEC over the Internet or in hard copy, and are, in some cases, available from Lorillard, Inc. as well. Forward-looking statements speak only as of the time they are made, and Lorillard, Inc. expressly disclaims any obligation or undertaking to update these statements to reflect any change in expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking statement is based.

SOURCE Lorillard Inc.