Billie Jean King Elected to Board of Directors of Philip Morris Companies Inc.

NEW YORK--(BUSINESS WIRE)--August 25, 1999--

Philip Morris Companies Inc. (NYSE: MO) announced today that Billie Jean King, age 55, has been elected to its board of directors. Ms. King, one of the most celebrated tennis players in history, began her long-term relationship with Philip Morris in 1970 with the formation of the Virginia Slims Tennis Tour, which was the birth of women's professional tennis. With the addition of Ms. King, the Philip Morris board increases from 15 to 16 directors.

"I am thrilled to welcome Billie Jean King to our board of directors," said Geoffrey C. Bible, chairman of the board and chief executive officer, Philip Morris Companies Inc. "She is a legendary athlete and exceptional leader who has excelled both on and off the tennis court. We look forward to the unique perspective that she will bring to Philip Morris."

Ms. King is a trailblazer who is known not only for her athletic accomplishments, but also for her life-long battle for gender equality and women's rights. She founded the Women's Sports Foundation, Women's Sports Magazine, the Women's Tennis Association and WORLD TEAMTENNIS. In 1990, Life Magazine named her one of the "100 Most Important Americans of the 20th Century."

As a tennis player, Ms. King's career highlights include: 71 singles titles, 20 Wimbledon titles and 39 Grand Slam titles. The first woman athlete to win more than $100,000 in a single season in any sport, she won the 1973 battle-of-the-sexes match against Bobby Riggs and maintained the number one ranking in the world five times between 1966 and 1972.

Ms. King also serves on the boards of the Elton John AIDS Foundation and the National Aids Fund. She is also a member of the International Tennis Hall of Fame and the National Women's Hall of Fame. Ms. King has received honorary degrees from California State University/Los Angeles, Trinity College and the University of Pennsylvania. In 1998, she founded the Billie Jean King Foundation to support equal rights for all.

With 1998 revenues of $74 billion, the Philip Morris family of companies is the world's largest producer and marketer of consumer packaged goods. Philip Morris Companies Inc. has five principal operating companies: Kraft Foods, Inc. (comprising Kraft Foods North America and Kraft Foods International), Miller Brewing Company, Philip Morris International, Inc., Philip Morris Incorporated (PM USA) and Philip Morris Capital Corporation.

Note to editors: Biography and photo available upon request.