oETNA LIFE AND CASUALTY COMPANY Frederick W Kingsley
151 Farmington Avenue A954MM V.Ce PMS'60M
ANEWENEWE Hartford, Connedicut 06156 9W4
u F E & CA 5 u"T"' Brit ish-Americar. Tobacco Company, Lim-Ited December 20, 1977
rost office Box 432
WesurL-ster Hoi.Lse
7 Millbank
Imdon WIP Irr., England -'5JAN
Re: British-Arnerican Tobacco C=xiv, L4=1zed Afted .....
*Guaranty Agreeamt covering t.i.T. Incarnational Finance
Liffdted 10@i% Guaranteed Notes due July 15, 1991
Dear Sirs:
Pursuant to discissions u-ith. Mr. H. r-crter. Jr., of Brc;wn &
UtIl"LiFuzon Liezs='es Imc-ricraced, '""Llsville, Kentucky, U.S.A. , we
kie-ralby waixe the @lbligazions of Tobecco Cx.-mr.17,
Lin%itaad, purs=.t to Sections 4(dlo and 4(e) of the Guzra-mi
concerning B.A.:. Intermtional FLnznce llz-ited (BA=r) lft!. Guarantee-1
Notes due July 15, 1991, pro,:ided that the Guarantor -will cause to be
delivered to eazh Purcb,--qet of the EXIM" @@otes so long as s=h R=chaser
or its r=rdnee shall hold wy of tba Noces. and to atch o&.Pr institu-
_
tional holder or at least 5% o! the prirc#&! anrmc of the Notes at t@a
tift omstank_
@:
1. Prouptly %--vr viailability wd I= an- event witbin 150 days afttr
the end o@ each fiscal year of ,*.-.a 6arantor, tlp-, consoLidaced
balance snest P-q at the end of sue, fist-al year and consolidated
stac t of operations of Brcwn & Will-'a-mion lmi=cries Incor;o-
rated, and its subsidiarime, se:x1ne in each case in ca-naratiue
form the !4kr8s as at die end of, 6r for t@he previous f.,.*zcal year,
all In reasonable detail, support ced by consolidating schedules --.d
accoMmied by an opinion --hereon by Ix--burz 'Youm & Ccz:parv,
'
independent aicatmitants, or odw In
recognized standing selected by Brov--i & Willismon In6l tries
Incorporated, certif4
ying , the arnual auat of tie books of accz,_=
of Brown & Villimmon industries Lccr-_Orated, arA its bubsidiaries;
and
2. Promptly u-,,-.n availXuilit!, ar.,: in any rmnc 1within 90 dc:-.- alf-er
the ma of each of the "nur ;=rrarly periods In zch fi=t'. year
of Brown & ',111imisor incltscries rncorzorated. the corsul-_-_1-,:ad
balance sheet as at enC &11-3 of e4-.13 @Viiod and cr;-soli-l-ted zzate-
rmes of c;arazions &r such I= Brcm 41, '.*_"11i,-du(xL
Industries Incor-porated, and its subsi4iaries, snxinS fcr-h in
each case 4-n cc.--maratt-Am fe-m rhe cor.-2!s-.xidA-g !.)r the
-'erio-.4 nf t7,4e przc 31 yoir' all ir rcascn
:.ac
abli deta'*.. b:, 1;,n*.-,cc@a1es ar-i
subject tc: c!=,,:is rest.1cing -_-ar:i-.nd audLr urijustr.=ts, by
a principzA*_ firAncial. o'"fi%Nat Q_@@ B@=-n @: Ir-'jstries
Incmporazad; and furthcr L:-a-. :his %zi-mr I's no;
resc * ided *. -., holders of of rhe pr!:-c-_*-.a_! valuc of
the notes @hamn ouzscandIA:F..
Sircert.1y.
AM LIn TISVRANCE COMPANY
BY
.
A.'T INDUSMp PRODUCED PURSUANT To I VILD. OF
B. S p.Lr_ MWWMMA DEPOS11TORIf COPY CASE NO. Cl-94-85"
CONSENT JUDGMENT DATED SM IN STATE OF A*NWS0TA, Er AL, V. PHILP AIORRIS@