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Vector Group Ltd. Commences 11% Senior Secured Note Exchange Offers

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  Published in House and Home on Thursday, May 6th 2010 at 17:40 GMT by Market Wire
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MIAMI--([ BUSINESS WIRE ])--Vector Group Ltd. (NYSE: VGR) today announced that it has commenced an offer to exchange $85 million in aggregate principal amount of its 11% Senior Secured Notes due 2015, which were privately placed in September 2009 pursuant to exemptions from registration under the Securities Act of 1933, as amended (the aSecurities Acta), for an equal amount of newly issued 11% Senior Secured Notes due 2015 (the a2009 Exchange Notesa). In addition, Vector Group Ltd. today announced that it has commenced an offer to exchange $75 million in aggregate principal amount of its 11% Senior Secured Notes due 2015, which were privately placed in April 2010 pursuant to exemptions from registration under the Securities Act, for an equal amount of newly issued 11% Senior Secured Notes due 2015 (the a2010 Exchange Notesa). The 2009 Exchange Notes will have substantially the same terms as the notes privately placed in September 2009 and the 2010 Exchange Notes will have substantially the same terms as the notes privately placed in April 2010, except that the 2009 Exchange Notes and the 2010 Exchange Notes will be registered under the Securities Act.

Pursuant to the terms of each 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 will accept for exchange any and all Original Notes validly tendered and not withdrawn prior to 5:00 p.m., New York City time, on June 4, 2010 (the aExpiration Datea), unless extended. Tenders of Original Notes may be withdrawn at any time prior to 5:00 p.m., New York City time, on the Expiration Date.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 offers and other information relating to Vector Group Ltd. are set forth in the two prospectuses dated May 6, 2010. Copies of the prospectuses and the related letters of transmittal may be obtained from U.S. Bank National Association (aU.S. Banka), which is serving as the exchange agent in connection with the exchange offers. U.S. Banka™s address, telephone number and facsimile number are as follows:

This press release shall not constitute an offer to exchange or a solicitation of an offer to exchange the Original Notes. The exchange offers are made only by the prospectuses dated May 6, 2010.

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