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Vector Group Ltd. Announces Pricing of $85 Million Aggregate Principal Amount of 11% Senior Secured Notes Offering

Posted on: Thu, 27 Aug 2009 17:20:00 EDT

Symbols: VGR

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MIAMI, Fla., Aug 27, 2009 (BUSINESS WIRE) --
VGR | Quote | Chart | News | PowerRating -- Vector Group Ltd. (NYSE:VGR) (the "Company") announced today that its
previously announced offering of $60 million aggregate principal amount
of 11% Senior Secured Notes due 2015 (the "Notes") was upsized to $85
million aggregate principal amount of Notes and priced today at 94% of
the face value. The Notes will be fully and unconditionally guaranteed
on a joint and several basis by all of the wholly-owned domestic
subsidiaries of the Company that are engaged in the conduct of the
Company's cigarette businesses. The offering is expected to close on
September 1, 2009 subject to customary conditions.

The Company intends to use the net proceeds of the issuance for general
corporate purposes.

This press release does not constitute an offer to sell or a
solicitation of an offer to buy the Notes. The Notes have not been
registered under the Securities Act, or the securities laws of any other
jurisdiction. Unless so registered, the Notes may not be offered or sold
in the United States except pursuant to an exemption from the
registration requirements of the Securities Act and the applicable
securities laws of any other jurisdiction.

This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. The
Company has tried, whenever possible, to identify these forward-looking
statements using words such as "anticipates", "believes", "estimates",
"expects", "plans", "intends" and similar expressions. These statements
reflect the Company's current beliefs and are based upon information
currently available to it. Accordingly, such forward-looking statements
involve known and unknown risks, uncertainties and other factors which
could cause the Company's actual results, performance or achievements to
differ materially from those expressed in, or implied by, such
statements.

Vector Group is a holding company that indirectly owns Liggett Group LLC
and Vector Tobacco Inc. and directly owns New Valley LLC.

SOURCE: Vector Group Ltd.


Sard Verbinnen & Co 
Paul Caminiti/Carrie Bloom/Jonathan Doorley 
212-687-8080

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