JT INTERNATIONAL S.A.


JT International (JTI) is a young and significant player in the global tobacco industry. We were formed in May 1999 when the Japanese holding company, Japan Tobacco Inc. (JT) acquired the non-US tobacco operations of RJR Nabisco Inc., thereby gaining a platform from which to compete on the world stage. With total net sales from tobacco operations of USD 34.4billion* in the financial year ended March 31st, 2003, JT is the world's third-largest cigarette manufacturer. It is proud to produce three of the five best-selling international cigarette brands in the world: Mild Seven, Winston and Camel. Our Salem brand is one of the world's leading international menthol brands.

* Figures stated in USD are translated solely for convenience at the rate of Yen 120.20 per USD 1. (exchange rate as of March 31st, 2003)

Headquartered in Geneva, JTI has offices in over 40 different locations around the world. We employ some 12,000 people in total. We have 90 brands in our portfolio, which are sold in over 120 countries. JTI operates, either wholly or through joint ventures, cigarette-manufacturing plants in 15 countries outside of Japan.

TAKING PRIDE IN OUR COMPANY

"Together with our brands, the most important asset that JTI has is its people. It is about more than providing a motivating and challenging workplace environment and superior compensation. It is also important that we all feel pride in working for JTI. Pride comes from believing in the strength of our brands and from working for a company that is committed to behaving responsibly and ethically to manage the risks of its product. Our focus on quality and responsibility is just one reason why so many talented people - smokers and non-smokers alike - choose to work for us. Another major attraction of JTI as an employer is our dynamism, our belief that we can make things happen. We don't see ourselves as "just another tobacco company". We actively encourage our people to try new directions and ideas, to innovate and to react positively to market changes and challenges."

Pierre de Labouchere

President and CEO

A FASCINATING INDUSTRY

Tobacco is a fascinating but controversial industry. With smoking come risks. We take these risks very seriously. We actively advocate appropriate regulation while, at the same time, defending the freedom of adults to smoke, preserving the long-term sustainability of our business and protecting our ability to compete for market share. We further recognize the need to demonstrate that we are addressing the increasing concerns of society about tobacco. In thinking about those concerns and the need to demonstrate responsibility, we have developed six core principles that define the way in which we want to manage our business :

- WE ARE OPEN ABOUT THE RISKS OF SMOKING

- WE ARE TRANSPARENT ABOUT OUR PRODUCT

- WE ENDEAVOR TO REDUCE THE RISKS OF SMOKING

- WE CAMPAIGN AGAINST YOUTH SMOKING

- WE ENCOURAGE COURTESY BETWEEN SMOKERS AND NON-SMOKERS

- WE RESPECT LOCAL NORMS AND CULTURES


More information on our company can be found by visiting us at www.jti.com