Louis Camilleri Quotations

I believe we can continue to gain share,

Overall, we achieved solid results in 2005, with strong income growth in our tobacco businesses partially offset by weaker results in food.

We are looking at a number of alternatives to maximize shareholder value, including the separation of the company into two, or potentially three, strong and independent entities,

We believe industry dynamics should improve in 2003, ... more effective measures to stop the flow of illegally sold cigarettes.

During the third quarter, particularly strong results in our tobacco businesses were partially offset by continuing challenges at Kraft.

Our domestic tobacco business delivered solid income gains in a highly competitive marketplace, ... Our international tobacco business delivered strong volume and income gains, with excellent share growth across most of its key markets.

Individually and as a team, they are exceptionally well prepared to grow our brands and businesses,

Circumstances affecting some of PMI's key markets, most notably Spain, dictate a cautious earnings outlook this early in the year.

Circumstances affecting some of Philip Morris International's key markets, most notably Spain, dictate a cautious earnings outlook this early in the year.

I am nevertheless confident that we have the strategic wherewithal and resources to manage the challenges ahead and successfully seize the considerable opportunities ahead of us.