Lorillard Announces Pricing of $750 Million Debt Offering

Lorillard, Inc. LO today announced that it has priced an underwritten public offering of an aggregate principal amount of $500 million 3.50% senior notes due 2016 and $250 million 7.00% senior notes due 2041 through its main operating subsidiary, Lorillard Tobacco Company, and guaranteed by Lorillard, Inc. Lorillard, Inc. expects to close the sale of the notes on August 4, 2011, subject to customary closing conditions. The net proceeds from the offering will be used for general corporate purposes, which may include, among other things, the repurchase, redemption or retirement of securities including its common stock, acquisitions, additions to working capital and capital expenditures.