B-A-T INTERNATIONAL FINANCE LI1V=EI)
PO Box 482 Westminster House 7 ?,Ubank London SWIP UE
Incorporated in Locdon-' Na. IOSDW
T&1*Vhoo*O1-=1=
Talegmphic Address VOIcular London M
Tolex 7M,3
DOGANK '16th j'ul-y 1976
The Manager,
Securities Investment Dept.,
The Lincoln National Life lusuraned Co.,
1301 South larrison Streetj
Port Wayne, Indiana 46801,
U.S.A.
Door Sir,
B.A.T. International Pinance Limited
4-IM Guaranteed Notes 19cti
Ta accordance with Clause ? CO of the Note Agreement,
and Clause 4 -OF of the Gua=antee Agreement dated 1st March
1976 between The Lincoln National Life Insurance Companj
and i.A.T. International Pinan e Limited, we are pleasea
to e=lo th f 11 wing
(1) t, VS14t"emen: 0: th,3e P'.ro:f it and Lo,s*-s Account for B.A.T.
Inte=ational Finance- limited for the 6 months
Q3.zW 31st March 1976.
(2) Uterim Report for the half year to 31st March 1976
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B.A.T IMUSTRIES P-Lc- - MWESOTA DV*sffoW COPY - PRODUCED PURSUANT TO I VII.D. OF
CONUNT jUDGMENT DATED WSM IN SrATE OF UNW90TA, ET AL v. PNLP AfoRns, ET AL- CASE NO. CI-94,8"5