A.30


 UNITED  STATES  DISTRICT  COURT
 SOUTHERN  DISTRICT  OF  NEW YORK

 I/N


SNIPPETS:
 
 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
 
 Defendants also concealed the true extent to which low-priced,
 
 shares of Philip Morris cormon stock on January 8, 1993, at a price of $73.375.
 
 Philip Morris common stock on January 8,
 
 Philip Morris common stock during the Class Period.
 
 the market price of the Company's corrrmOn stock at the commencement of the Class Period.
 
 Chairman of the Board and Chief Executive Officer of Philip Morris
 
 15, By reason of their stock ownership, their management
 
 While the exact number of Class members can only be determined by
 
 domestic tobacco sales continued to generate despite the negative
 
 almost 50% of the Company's total operating income.
 
 This represented a 21.8% compound annual growth rate in the Company's net income for the past
 
 sales being more than offset by those price increases.
 
 cormrmnity that in order for PMUSA, and by extension the Company, to
 
 prices without further defections by consumers to discount and deep
 
 defendants took steps to allay any concerns .which such a decline
 
 the g-10% drop experienced by other premium brands during 1992.
 
 In order to counter the Sanford C. Bernstein report
 
 report on January 13, 1993, John Nelson, Senior Vice President for PMUSA was quoted as
 
 Company's 1993 earnings; and
 
 Marlboro and the narrowing of the price difference between discount
 
 l strong and growing n and that Marlboro was "doing quite well."
 
 or made on January 27, 1993, and February 19, 1993, were materiallygrowing weakness in
 
 sales of Marlboro cigarettes.
 
 domestic tobacco business.