Philip Morris International Presents at Consumer Analyst Group of New

    Business Editors

    NEW YORK--(BUSINESS WIRE)--Feb. 23, 2005--Philip Morris International (PMI), the international tobacco operating company of Altria Group, Inc. (NYSE: MO), appeared today at the Consumer Analyst Group of New York (CAGNY) Conference in Scottsdale, Arizona, with a presentation by Hermann Waldemer, President, Western Europe Region for PMI.
    An audio webcast of the presentation will be available beginning at approximately 1:15 p.m. mountain time (3:15 p.m. eastern time) on February 23, 2005, and an archived copy of the webcast and the text of the presentation will be available until 5:00 p.m. eastern time on Friday, March 25, 2005. Access is available at www.altria.com.
    In connection with the presentation, Altria Group, Inc. reaffirmed its previously stated forecast for 2005 full-year diluted earnings per share from continuing operations (which excludes a $0.03 impact for Kraft's discontinued operations) in a range of $4.95 to $5.05. This forecast assumes current foreign exchange rates, a base income tax rate of 34.7% and approximately $0.12 per share in charges associated with the continuing Kraft restructuring. However, it does not include any tax benefits that could arise from the repatriation of funds from its international businesses under provisions of the American Jobs Creation Act, nor does it include any benefit from prior year accrued contributions to the National Tobacco Growers Settlement Trust. In addition, forecasted results do not include the impact of any possible acquisitions or divestitures not previously announced.
    In his review of the company's international tobacco business, Mr. Waldemer said, "The environment will remain challenging in Western Europe. However, we expect market declines to moderate and PMI enters this year in a much stronger position than twelve months ago. We have excellent potential for further volume and share growth in the rest of the world; we are very excited about the increased opportunities resulting from the Marlboro license take-back in Japan; our volume performance should be enhanced by Marlboro initiatives, continued L&M expansion and the growth of our diversified international brand portfolio; and we have several business development and acquisition opportunities."
    "We expect organic volume growth of 2% to 3% this year," Mr. Waldemer said. "At current exchange rates, PMI projects double-digit operating companies income growth. In addition to favorable currency, this projection reflects higher volumes, pricing, and productivity savings."
    The factors described in the Forward-Looking and Cautionary Statements section of this release represent continuing risks to these projections.

    Altria Group, Inc. Profile

    Altria Group, Inc. is the parent company of Kraft Foods Inc., with approximately 85% ownership of outstanding Kraft common shares, Philip Morris International Inc., Philip Morris USA Inc. and Philip Morris Capital Corporation. In addition, Altria Group, Inc. has a 33.9% economic interest in SABMiller plc. The brand portfolio of Altria Group, Inc.'s consumer packaged goods companies includes such well-known names as Kraft, Jacobs, L&M, Marlboro, Maxwell House, Nabisco, Oreo, Oscar Mayer, Parliament, Philadelphia, Post and Virginia Slims. Altria Group, Inc. recorded 2004 net revenues of $89.6 billion.

    Forward-Looking and Cautionary Statements

    This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. The following important factors could cause actual results and outcomes to differ materially from those contained in such forward-looking statements.
    Altria Group, Inc.'s consumer products subsidiaries are subject to changing prices for raw materials; intense price competition; changes in consumer preferences and demand for their products; fluctuations in levels of customer inventories; the effects of foreign economies and local economic and market conditions; and unfavorable currency movements. Their results are dependent upon their continued ability to promote brand equity successfully; to anticipate and respond to new consumer trends; to develop new products and markets and to broaden brand portfolios in order to compete effectively with lower-priced products; to improve productivity; and to respond effectively to changing prices for their raw materials.
    Altria Group, Inc.'s tobacco subsidiaries (Philip Morris USA and Philip Morris International) continue to be subject to litigation, including risks associated with adverse jury and judicial determinations, courts reaching conclusions at variance with the company's understanding of applicable law, bonding requirements and the absence of adequate appellate remedies to get timely relief from any of the foregoing; price disparities and changes in price disparities between premium and lowest-price brands; legislation, including actual and potential excise tax increases; increasing marketing and regulatory restrictions; the effects of price increases related to excise tax increases and concluded tobacco litigation settlements on consumption rates and consumer preferences within price segments; health concerns relating to the use of tobacco products and exposure to environmental tobacco smoke; governmental regulation; privately imposed smoking restrictions; and governmental and grand jury investigations.
    Altria Group, Inc.'s consumer products subsidiaries are subject to other risks detailed from time to time in its publicly filed documents, including its Annual Report on Form 10-K for the period ended December 31, 2003 and its Quarterly Report on Form 10-Q for the period ended September 30, 2004. Altria Group, Inc. cautions that the foregoing list of important factors is not complete and does not undertake to update any forward-looking statements that it may make.

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CONTACT: Altria Group, Inc. Timothy R. Kellogg, 917/663-2759

KEYWORD: ARIZONA NEW YORK INDUSTRY KEYWORD: FOODS/BEVERAGES RETAIL CONFERENCE CALLS SOURCE: Altria Group, Inc.

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