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Brooke Group Reports Second Quarter 1999 Financial Results 

Second quarter 1999 revenues were $115.9 million, compared to revenues of $111.3 million in the second quarter of 1998. The Company recorded operating income of $13.6 million in the 1999 second quarter compared to operating income of $12.9 million in 1998. Net income in the 1999 second quarter was $214.8 million, or $8.21 per diluted common share, which includes a pre-tax gain of $294.3 million in connection with the closing of the Philip Morris brand transaction on May 24, 1999. This compares to a net loss of $14.8 million, or $.72 per diluted common share, in the 1998 period.

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