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R.J. REYNOLDS TOBACCO CO. ISSUES STATEMENT

 WINSTON-SALEM, N.C., Aug. 4 /PRNewswire/ -- R.J. Reynolds Tobacco Co. issued the following statement today:
 "R.J. Reynolds is maintaining its previously announced price of $8.09 per carton, $40.45 per thousand on its Doral, Magna, Sterling, Monarch and Best Value discount brands. Effective Aug. 9, 1993, the list price of 85mm and 100mm styles of its Forsyth Tobacco brands will be consolidated at $40.45 per thousand.
 "We believe this action is in the best interest of our shareholders and wholesale and retail customers whose profitability has been damaged by recent pricing initiatives by Philip Morris.
 "Despite claims by Philip Morris, our price surveys of 5,000 retail outlets continue to show that their Basic brand is on average priced lower than any other discount brand including private label products. In comparison, the retail price of Reynolds Tobacco's discount brands has risen steadily in recent months, closing the price gap between premium and discount brands. Given this marketplace environment, RJR will continue to do whatever is necessary to ensure that its discount brands are priced competitively at the retail level."
 -0- 8/4/93
 /CONTACT: David B. Fishel, public relations of R.J. Reynolds Tobacco Company, 919-741-7654/
 (RN)


CO: R.J. Reynolds Tobacco Co. ST: North Carolina IN: TOB SU:

LD -- NY096 -- 9605 08/04/93 18:58 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
Words:222
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