Vector Group Ltd. (NYSE: VGR) today announced that it has commenced an offer to exchange $90 million in aggregate principal amount of its 11% Senior Secured Notes due 2015 (the “Original Notes”), which were privately placed in December 2010 pursuant to exemptions from registration under the Securities Act of 1933, as amended (the “Securities Act”), for an equal amount of newly issued 11% Senior Secured Notes due 2015 (the “Exchange Notes”). The Exchange Notes will have substantially the same terms as the notes privately placed in December 2010, except that the Exchange Notes will be registered under the Securities Act. Pursuant to the terms of the exchange offer, Vector Group Ltd. will accept for exchange any and all Original Notes validly tendered and not withdrawn prior to 5:00 p.m., New York City time, on May 11, 2011 (the “Expiration Date”), unless extended. Tenders of Original Notes may be withdrawn at any time prior to 5:00 p.m., New York City time, on the Expiration Date. The terms of the exchange offer and other information relating to Vector Group Ltd. are set forth in the prospectus dated April 12, 2011. Copies of the prospectus and the related letter of transmittal may be obtained from U.S. Bank National Association (“U.S. Bank”), which is serving as the exchange agent in connection with the exchange offer. U.S. Bank’s address, telephone number and facsimile number are as follows:
|U.S. Bank National Association|
|60 Livingston Avenue|
|St. Paul, MN 55107-2292|
|Attention: Specialized Finance Department|
|Phone: (800) 934-6802|
|Facsimile: (651) 495-8158|
Vector Group is a holding company that indirectly owns Liggett Group LLC and Vector Tobacco Inc. and directly owns New Valley LLC.