(Continued)

Boards of Directors and Management

In conjunction with the restructuring of our businesses, the independent members of the former Altria Board have essentially split evenly to form the initial core for the Boards of Directors of Altria and PMI. In addition, we have identified a number of highly qualified new members for both boards and appointed strong management teams at each company.

Altria’s Board of Directors post-spin includes four continuing members from the current Altria Board of Directors. They are Elizabeth E. Bailey, Robert E. R. Huntley, Thomas W. Jones and George Muñoz. They are joined by four new directors: Thomas F. Farrell II, Chairman, President and Chief Executive Officer of Dominion Resources, Inc.; Gerald L. Baliles, Director of the Miller Center of Public Affairs at the University of Virginia and former Governor of Virginia; Dinyar S. Devitre, who stepped down as Chief Financial Officer of Altria following the spin-off; and Michael E. Szymanczyk, who will serve as Chairman of the Board and Chief Executive Officer of Altria.

PMI’s Board of Directors postspin includes five members who stepped down from the Altria Board of Directors. They are Harold Brown, Mathis Cabiallavetta, J. Dudley Fishburn, Lucio A. Noto and Stephen M. Wolf. In addition, Sergio Marchionne, Chief Executive Officer of Fiat S.p.A., and Carlos Slim Helú joined the PMI Board of Directors at the time of the PMI spin-off, and Graham Mackay, Chief Executive Officer of SABMiller, has agreed to join the PMI Board of Directors later in 2008.

The 2008 proxy statement contains a comprehensive description of Altria’s Board of Directors and its committees, as well as the nominees for election to the Board at the 2008 Annual Meeting of Shareholders, which will be held in Richmond, Virginia, on May 28, 2008. I urge you to read the full statement and return your proxy card as soon as possible with your vote.

On the pages immediately following this letter, you will find a message from Mike Szymanczyk, who now serves as Chairman and Chief Executive Officer of Altria, following my resignation from those positions to serve in a similar role at PMI. I have known Mike and worked closely with him for more than 12 years, and have the highest regard for his immense business acumen, intellect, courage and leadership qualities. I have no doubt that he will flourish in his new role and lead Altria to ever-greater heights.

I am also delighted that André Calantzopoulos has agreed to serve as Chief Operating Officer of PMI, reporting to me. PMI will issue a separate Annual Report in 2009, prior to its first Annual Shareholder Meeting.

On a personal note, I want to thank the members of the Altria Board for their invaluable advice, their enthusiastic support and their wise counsel as we implemented the momentous changes made by your company over the past several years. In particular, I want to thank John S. Reed, who has elected to retire from the Altria Board of Directors. He is one of the longest-serving members of the Board of Directors and has provided outstanding leadership throughout his more than 30 years of distinguished service to the company and its shareholders.