FROM THE CHAMMAN T,,, P.J. N. Rackham, ---sq. M A CAC VZ - Leeds Castle Ztem L. Gro!M Znvestment Strate9k The Group's Xnvestment Strategy V.11 be discussed by the B.A.T Industries Board in Septenber and rather than give a presentation based on last year's paper it seemed non appropriate to discuss'with-.1ou so= ej the key issues that will be covered in our paper this year. Since you may like to give some preliminary thought to these issues before Wednesday, some introductory not" are attached. 2M 2082 co C=) C) BAT Industries document for Province of British Columbia 22 April 1999