WINSTON-SALEM, N.C. - Nov. 18, 2015 - Reynolds American Inc. (NYSE: RAI) announced the commencement of exchange offers for:

 up to $414,793,000 of its new 3.500% Senior Notes due 2016 (the 'new 2016 notes') for up to $414,793,000 of its existing 3.500% Senior Notes due 2016 (the 'old 2016 notes');
 up to $447,092,000 of its new 2.300% Senior Notes due 2017 (the 'new 2017 notes') for up to $447,092,000 of its existing 2.300% Senior Notes due 2017 (the 'old 2017 notes');
 up to $668,689,000 of its new 8.125% Senior Notes due 2019 (the 'new 2019 notes') for up to $668,689,000 of its existing 8.125% Senior Notes due 2019 (the 'old 2019 notes');
 up to $641,462,000 of its new 6.875% Senior Notes due 2020 (the 'new 2020 notes') for up to $641,462,000 of its existing 6.875% Senior Notes due 2020 (the 'old 2020 notes');
 up to $473,689,000 of its new 3.750% Senior Notes due 2023 (the 'new 2023 notes') for up to $473,689,000 of its existing 3.750% Senior Notes due 2023 (the 'old 2023 notes');
 up to $236,748,000 of its new 8.125% Senior Notes due 2040 (the 'new 2040 notes') for up to $236,748,000 of its existing 8.125% Senior Notes due 2040 (the 'old 2040 notes'); and
 up to $240,197,000 of its new 7.000% Senior Notes due 2041 (the 'new 2041 notes') for up to $240,197,000 of its existing 7.000% Senior Notes due 2041 (the 'old 2041 notes').

RAI originally issued the old 2016 notes, the old 2017 notes, the old 2019 notes, the old 2020 notes, the old 2023 notes, the old 2040 notes and the old 2041 notes (collectively, the 'old notes') in private offerings, not registered under the Securities Act of 1933, as amended (the 'Securities Act'), on July 15, 2015. The old notes were issued in exchange for notes originally issued by Lorillard Tobacco Company.

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