Brown & Williamson completes sale of brands to Commonwealth.

LOUISVILLE, Ky.--(BUSINESS WIRE)--Nov. 1, 1996--Brown & Williamson Tobacco Corp. today completed the sale of six former American Tobacco cigarette brands to Commonwealth Tobacco LLC, of Bowling Green, Ky.

The sale has been pending since the U.S. Federal Trade Commission gave its approval on October 18. The sale to Commonwealth includes domestic rights to "Montclair," "Malibu," "Riviera," "Crowns," "Special 10's" and "Bull Durham." In addition to the brands, Commonwealth acquired the former American Tobacco cigarette manufacturing plant in Reidsville, N.C. Terms of the sale were not disclosed.

"The satisfactory conclusion of this sale fulfills the requirements set out by the federal government when Brown & Williamson acquired American Tobacco," said Nick Brookes, B&W's chairman and chief executive officer. "We're very pleased that this sale has been completed and will allow for some continued job opportunities at the Reidsville plant."

In transition, B&W will continue to operate the Reidsville facility until December 31, when Commonwealth will assume full operation.

The sale of the brands was part of a consent order issued by the FTC in December 1994 following the acquisition of American Tobacco Co. by B&W, a subsidiary of London-based B.A.T. Industries plc.

Headquartered in Louisville, Ky., Brown & Williamson is the manufacturer and marketer of such popular brands as KOOL, LUCKY STRIKE, GPC, MISTY and CAPRI. The company also manufactures and markets specialty tobacco products, including SIR WALTER RALEIGH pipe tobacco.

CONTACT: Brown & Williamson Tobacco Corp., Louisville

Tom Fitzgerald, 502/568-7468