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    B&W CEO Susan Ivey To Lead Reynolds American

    Andrew J. Schindler, chairman and CEO of RJR, will serve as executive chairman.

    WINSTON-SALEM, N.C. -- Susan Ivey, president and CEO of Brown & Williamson Tobacco Corp., will hold those positions in Reynolds American Inc., the company to be formed by the merger of B&W and R.J. Reynolds Tobacco Co. (RJRT), which is expected to close in mid-2004. Ivey also will serve as chairman and CEO of RJRT.

    Andrew J. Schindler, now chairman and CEO of RJR, will serve as executive chairman of Reynolds American for six months after the transaction closes, later becoming non-executive chairman, according to an announcement by RJR.

    Reporting to Ivey at Reynolds American will be: Charles A. Blixt, executive vice president and general counsel; Dianne M. Neal, executive vice president and CFO; Jeffrey A. Eckmann, executive vice president ? strategy planning and integration; Ann A. Johnston, executive vice president ? human resources; and Tommy J. Payne, executive vice president ? external relations.

    "This management team will provide tremendous experience and leadership to Reynolds American and its operating companies," Ivey said. "There is enormous talent and proven ability in each area, and I look forward to working with this exceptional group."

    Blixt, Eckmann, Johnston and Payne also will hold comparable positions at RJRT. Eckmann, now senior vice president and CFO of B&W, will lead the integration team that merges the RJRT and B&W operations. Full integration is expected to take 18 to 24 months after closing.

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