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• Altria Says No Rush to Spin Off Overseas Tobacco Unit (Update5) 

Altria Group Inc. won't rush to spin off its international tobacco unit while studying options to increase the share price, its chief executive officer said.

``This decision is for the next 50 years,'' not ``the next 50 days or the next five years,'' Louis Camilleri said today at Altria's annual meeting in East Hanover, New Jersey.

Altria, the world's largest traded tobacco company, will consider separating the international and U.S. tobacco units over the next several months, Camilleri said. The move, sought by some investors, would allow the international division to buy more competitors and repurchase shares.

``Altria's board has been very cautious,'' said Brian Barish, who oversees $10 billion, including 3 million Altria shares, at Cambiar Investors LLC in Denver. The spinoff ``may be a 2008 event,'' he said.

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