GROUP EXTRU" PERCEPTION
Performance In 1990 : Assessment by at. Prideauz
In my view, the Croup's standing has improved in the last year, although it
Ls harder to be certain that the performance will necessarily have fed
through to the cassualtles La which we operate, where the point of control
is more likely to be with operating companies rather than the Group.
At the Group level, I would cite the Chairman's knighthood, the defeat of
Goldsmith, the successful demergers, the prices achieved for the disposals,
and the investment attraction of an assured dividend at this stage In the
cycle as factors which have Improved our standing.
Judging by the MORI tracking study amongst Investors carried out in the
autumn of 1990, the message about growth potential in tobacco does seen to
have got through, with tobacco regarded more favourabll that insurance for
the first time evet. Outside the investment community, there has been
public recognition of our role La inner city work from Ken Clarke and also
of our approach to Europe In general and monetary union In particular.
13th February 1991
NJ
C5
-4
00
OD
CY%
BAT Industries document for Province of British Columbia 23 April 1999