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Note to: M F Broughton EsQ t: V-
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Adgitional Contribution to Brgwn & Williamson Pension Fund I I SEP1991
Charlie Fnmicesciani has contacted me asidng for my views an an additional contribution
of $11 mAw to the Brown & Williamson pension plan to take place this "sr. This
corivibution would reduce the minimum requirements 5 years hence &W shows a 20% annual
return for that period.
The addidorW contribudon will have an impact on the Group's debt equity for this year
- roducirV k by two-t*nths of oft percent. Given this minor Impact and the return from
the contribution, I recommend that we advise Brown & WMamson of our suppot for this
propow.
CHARD I DUMNO
3rd Septamber 1991
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B.A.T INDusTmEs P.LC. - MMESOTA DEPOWFORY COPY - PRODUCED PURsuAMT To VILD. OF
ComsENT JuDatum DATED S/W% iN STATE OF Owsom ET AL v. PmLp MoRgm ET CAsE No. Cl-94-M5