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William H. Webb Named Vice Chairman Philip Morris Companies Inc.

The Board of Directors of Philip Morris Companies Inc. on Wednesday announced that William H. Webb was elected to the position of Vice Chairman, Philip Morris Companies Inc., effective immediately. In this capacity, Webb will become a member of the Board of Directors of Philip Morris Companies Inc. and will retain his current responsibilities as Chief Operating Officer of the corporation reporting to Geoffrey C. Bible, Chairman and CEO.

In addition, Webb will assist Bible and the Board of Directors in the orderly transition of management prior to August 2002, when Bible reaches the mandatory retirement age of 65. At that time, both Bible and Webb will retire.

"Bill's distinguished career at Philip Morris Companies and Philip Morris International, spans 35 years," said Bible. "He has served with distinction in many roles and in numerous markets of Philip Morris International." Prior to being named Chief Operating Officer of Philip Morris Companies Inc., where he has had direct responsibility for the management of all of the major business units of Philip Morris Companies Inc. since 1997, Webb was President and CEO of Philip Morris International.
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