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Philip Morris Closes On Acquisition of Nabisco 

Philip Morris Companies Inc. announced today that it closed on its acquisition of Nabisco Holdings Corp. for $55.00 per share in cash and the assumption of approximately $4.0 billion of Nabisco's debt, for a purchase price of $18.9 billion.

With 1999 operating revenues of more than $78 billion, the Philip Morris family of companies is the world's largest producer and marketer of consumer packaged goods. Philip Morris Companies Inc. has five principal operating companies: Kraft Foods, Inc. (comprising Kraft Foods North America and Kraft Foods International), Miller Brewing Company, Philip Morris International Inc., Philip Morris Incorporated (PM USA) and Philip Morris Capital Corporation.

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