The Board of Directors of Philip Morris Companies Inc. (NYSE:MO) yesterday declared a regular quarterly dividend of $0.53 per common share, payable on July 10, 2001, to stockholders of record as of June 15, 2001.

With 2000 underlying operating revenues of $80.3 billion ($88.3 billion assuming Philip Morris owned Nabisco for all of 2000), the Philip Morris family of companies is the world’s largest producer and marketer of consumer packaged goods. Philip Morris Companies Inc. has five principal operating companies: Kraft Foods Inc., Miller Brewing Company, Philip Morris International Inc., Philip Morris Incorporated (PM USA) and Philip Morris Capital Corporation.

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For more information about Philip Morris Companies Inc., please visit the company’s web site at: www.philipmorris.com.

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