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The Board of Directors HERBERT A. KENT' (1939) Chairman of'the Board JosEPx J.,BLACKtvALL (195QV Vice President and Director of Manufacturing WILLIAM J. HALLEY ('1941)~. President~ LEWISGnUBER (1946). Vice President and' Directorof, Sales DR. HARRis B. PARMELE ('1950) Director of Research ALDEVJIAaIES (1950) Vice President and Director of Advertising HAROLD F. TEIIPLE(I943I. Director of Brand Development MELVIN'E..DaWLEY(I950). DONALD A. HENDERSON (I9446) Vice P'residentandDirector, Treasurer and Seeretary,;, Lord & Taylor Twentieth Century-Fox Film Corp. FR~A~N'IC' HOPEWELL Q940'J Executive Vice President IeN'Iy FL Pf.%K(II943) Vice President and Director of Leaf Activities' FREDERICK M. WALSON (1953) 1 Director of Purchasing F. GLADDEN SEARLE(1943~) Industrialist The year shown in parentheses is the year of first election as a Director

ANNUAL REPORT for the Year Ended December 31!, 1953 Maker of OLD GOLD, EMBASSY and KENT Cigarettes, MURIEL Cigars, and other Tobacco Products O F'F I C E R S HERBERT A. KENT WILLIAM J. HALLEY . FRANK HOPEWELL JOSEPH J. BLACKNALL LEWIS GRUBER . . ALDEN JAMES . . . IRVIN H. PEAK . . . GEORGE O. DAVIES ANNA F. WOESSNER JOHN J. DARBY . . . Other General Counsel . Auditors . . . . . Transfer Agent . . Registrar . . . . Advertising Agencies Executive Offices Corporate Offices Manufacturing Plants . . . . . . . Chairman of the Board . . . . . . . . . President Executive Vice President Vice President and Director of Manufacturing . . . Vice President and' Director of Sales Vice President and Director of Advertising Vice President and Director of Leaf'. Activities . . . . . Treasurer Secretary . . . Comptroller Corporate Information Perkins, Daniels &' Perkins . . . . . . . .. . . .. . . . . . . Haskins & Sells ... The New York Trust Company, New York„N. Y. The National City Bank of~New York, New York, N. Y.. LennenA Newell, Inc. (OLD GOLD, EMBASSY, MustEL) ; Young & Rubicam, Inc. (KENT) ; Albert Frank-Guenther Law, Inc. (Financial) . 119 West 40th Street, New York 18, N. Y...... 15 Exchange Place, Jersey City, N. J. Jersey City„N. J.; Louisville, Ky,.; Richmond„Va. Louisville, Ky. ; Richmond, Va. ; Lexington, Ky. ; Danville, Va.;, Lancaster, Pa.; Madison, Wis.; Leaf-Storage Warehouses . La Crosse, Wis.; Evansville, Wi's.; Windsor, Conn. Stemmeries ., . . . . . . . . . Louisville, Ky. ; Lexington, Ky. ; Danville, Va. Field and Division Sales Offices ........ .. In All Principal Cities Subsidiary . . . . . . . . . . . Federal Tin Company. Inc.,,Baltimore, Md. Sa1es Volume Reached a New High Page 6 The Advertising Investment Yielded Greater Dividends Page 8 Our New Greensboro Plant Centerfold Leaf Costs Went Up Page 12 Every Plant Worked at Full Capacity Page 13 Research . . . in Lorillard's Greater Service Page 14 Consolidated Balance Sheets Page 16 Accountants' Certificate Page 19 81215~1~0

„ THE YEAR IN REVIEW TftE. YEAR 1953 wass markedl by higher sales Tl/ and higher profits an&somewhat higher divi- dends. It was also a year of the stiffest competition dhe Industry has ever knowna ^~c- Over-all sales in 1953, the largest in the his- tory of the Company„were e253,933,462, which was 539;424,980 more than sales in 1952. Profit of $7,195,167 was the highest ever recorded'and 26% over 1952. It amounted to $2.28 a share,of common stock, compared withi$2.01 in 1952. The year 1953 also brought relief from Gov- ernmental price control, which gave Alanage- ment an opportunity to make adjµstments in many ways to balance partially the increased costs,of~ tobacco, labor andlother materials. Relax- ation of this, restriction accounted' for altnost $7,300,000 of the $39,42-1',980 increase in sales. (Dividend payments were up Increased profits permitted the Board of Direc- tors to decl~re dividend payments for thee year of $1.60 per common share, up 100 from 1952. This is especially noteworthy because in 1953 additional stock was sold in the ratio of one new share for each seven.old shares. tns~eaT pu'Tditaaes-~us~ e ... profit of $2.28 a share of Y common stock notediabove would have amounted to $2.61 a share had not the additional 356,573 shares been sold. Sales set a new record high )i' Our sales continued to rise. Most noteworthy was the performance of OLD GoLD, the only major brand among cigarettes offering bothxegular and king•size to enjoy a sales increase in 1953. The debut of king-size ntn GOLD in, April;, a step prompte&by a definitive trend, contributed to the brand's growth during the balance of the year. Filter:tipped cigarettes in 1953, doubled the share of the market they had in 1952. KEST doubled and redoubled its volume and' showed the greatest percentage of increase of any brand over 1952. Shareholders will be interested to knoww that normally it takes four or five years for a new brand! to get into the black; KENT accomplished it soon after we achieved nation-wide distribution. You may have read some of the recent news- paper stories which accented the fact that the cigarette Industry in 1953 failed to show an in- crease over 1952. We cannot honestly become alarmed. 1Wlany, factors require mature considera- tion. King-size brands~ wer~e, ahead' 9%)` For example, there was the increased! sale of king-size cigarettes - in 1953 they accounted for 27~Jo of the market, 9`,>0~ more than in 1952 - which naturally tended somewhat to reduce unit consumption. And, there were a number of neww brands - as well as new size old brands - intro- N

uced during the year which requiredlinventory. adjustments by distributors. Too, there is doubt Whether the d% increase in factory withdtawall jn 1952representedla: 4`c increase inactualcon- sumption or may have been a reshuffling of in- ;ventories. Wide publicity was given~ dtiring 1953 to re- ports of experiments with mice and to suggestive statistical analyses which attempted to link exces- sive cigarette smoking with lung cancer. While these are unproved and inconclusive studies, Man- agement does not believe they should be lightly dismisseda Accordingly, we have sought the faets. Shareholders will be interestedlto know-that many distinguished doctors and research scientists have pttblicly,questioned the validity of these experi- ments andl their significance. There is no proof' that oigarette smoking is a cause of lung,cancer, and there is no agreement among the medical authorities on what the cause may be. We believe Lorillard products are not injurious to any one's health, but we accept as an inherent responsibility of our corporate citizenship the ob- ligation to~make the public's health our business. In addition to continuing,a program, of research in our own laboratories and through consulting research organizations,,we have joined with other cigarette manufacturers in the formation of the Tobacco Ihdnstry l1es'ea`rjh-Couimittee, which, we are confident, will get the true facts. In 1953 your Company honored its long-service employees. Gold pins in recognition of loyal and continuous service, ranging from 20 to 50 years, were presented to 629 Lorillard men and women. With this group of seasoned4 mature people of hard-won knowledge and' experience we have blended middle-aged'men and women at the peak of their potential, and energetic, young blood with an earnest! desire to learn and to serve. Thus the Management team has balance and as- surance of continuity of leadership: Planning fortomorrotu~; - ~~""~- ' Programmingfor our new plant in Greensboro, North Carolina, advanced as planned. Ground- breaking ceremonies will be held there at mid- year. An architectural perspective dtawing is shown at the centerfold. This new source of pro- duction will permit the Company to sustain~ its growing stature in the Industry. In the past year we strengthened our fundk- mental position in the Industry. We are confident and optimistic about the future. ~,a. (t,~ O~- ~ Chairman o/ the Board' (ANNUAIi MEETING AND PROXY: The Annual Meet- ing of Lorillard shareholders will be held on April' 6, 1954. Notice.of this Meeting.is enelosedlwith this Report, along,with proxy, and proxy.statement... Approximately,7 q . of our shareholders.own100.shares or less. As we sai in a previousAnnual Report: "This means we are fina ced by Main Street. R'e like this situ- ation because.itim essmalt holders important. It makes each proxy, for h ever few sliares;, spokesman for an individual who works, saves and invests in his future security." Your proxy iss thus.your way to.approve or disapproveofi Management's stewardship. Your vote is therefore important personally to'vfanagement. If yoware unabl6 to attend our Annual 1leeting.in New.York on.April 6, 1954, please sign and return your proxy before you put it aside: Itt will let us know of your continued interest. 3

Our 1953 Results at a Glance 1953 We received: From sales of our products . . . . . . . . . . . $253,933,462 Our costs were: Federal Internali Revenue stamps . . . . . . . . . $112,685,338 Leaf tobacco; other materials and services; and miscellaneous costs . . . . . ... . . . . 95,763,669 Wages and salaries . . . . . . . . . . . . . . 20,834;751 Depreciation . . . . .. . . . . . . . . . . . . 1',051,45 7 Interest paid to banks and bondholders ...... 2,520,247 Federal and State taxes on income and other taxes .. 13,884,429 These costs totaled . . . . . . . . . . . . . $246,7391891 Leaving us net income o f . . . . . . . . . . . . $ 7;1'93,571 $ 5,700,942 Which was allocated as f ollowsr Cash dividends . . . . . . . . . . . . . . . . $ 5,143,477 $ 4,430,307 Retained for future growth . . . . . . . . . . . 2,050,094 1,270;635 Our shareholders' investment at year•end was $' 77,878,061 1$ 67,820;512 Which belonged to our shareholders as follows: Preferred shareholders . . . . . . . . . . . . . . . . 13 io ~ 14 7~ Common shareholders ( including, retained earnings ). ... 87 ;'0 86 `~o And benefits these members of the Lorillard family: Preferred shareholders (year-end) . . . . . . . . . . . Common shareholders (year-end) . . . . . . . . . . . Salaried employees (~year-end ) . . . . . . . . . . . . Wage-earning employees (year-end) . . . . . . . . . . Results per common share: Net income . . Dividends . . . Book value TOBACCO, OTHER PURCHASES & DEPRECIATION `\ 38.130, HOW OUR SALES DOLLAR WAS DISTRIBUTED $I 2.01 $ 1.50. $23.24 WAGES & SALARIES / 8.20 4 00INTEREST ~i0.994 ~ INCON r 2,021 26,404 1,458 5,128 ~ 195G ° PERCENT INCREASE 79,257,349 18,317,437 950,870 2,026,607 8,041,323' $208,807,540 2,089 26,320 1,322 5,179 $ 2.28 $, 1.60 $23.86 .r.,.Pwr-,".---•- .. .-T-

TEN!-YEAR COMPARISON OF FINANCIAL STATISTICS RELATIiNG TO OPERATIONS Year Income Incomeand' Ended Net before.Taxes Excees Dec:31' Sales onlncomeProfiisTaxes. 1953'$253,933,-162$18,789,1I67 $111,594,000 1952 214;508,482' 11,640,942 5;940,000 1951 188;347,430: 10,943;4725;$17;000 1950' 167;936,931 12,632,768 51$95,000 1949 153,500,123 11,211,133 4,387,000 1948 140,279,236: 9,143':839 3,498,900 1947 127;919,655 8,946;625 3,430,700 1946 124,04,7,263 5,661,513 2,149,300 1945 126;429,130 7;645i170 4,110,713 1944 1231790,406 9,928;791 ; 6,320,942 Net Inrome Income per Common. Share' Ddvidends per Common Share $7,193,571 $2.28' $1.60 5,700;942 2.01 1.50 5,126;472 1.78 1.50 6,737,768 2.69 1.85 6,824,133' 2:73'. 1.75 5,64-1,939 221 1.50 5,515,925 2.15 1.50 3,512.213' 1.26 1.00 3,534.457 1.27 1.00 3,607.849 , 1.30'. 1.00 RELATING TO BALANCE,SHEET 3f0 20Y 100 0 At TotaL' Dec;31/nventovie~.a Rorking Capital ' $111,269.498 , 81,369,6511 81,658;130 69,90 7,552 70,474,585 69,537,669 69,8934204! 69,476,241 71,458;02770,201,362 Property, Plhnr and Equipment , . Book {°alueCruss Net aJter Shhreholders' per Com. Amourst Depreciation Inces[ment mon Share• 524,392:884 22,605,222' 21,342,441 19,433,534 17,707,279' 16,726,561 15,291,608 14,5811,737 11,806,081 11,818,588 * BAeed on nurnber of shares outstanding at end of each vear. 1953 $135,727,170 1952 125,008,096 1 1951 . 101,995,679 1950 ~ 84,461,181 1949 ~ 74,992,955 1948 72;538,273 1947 73;237,247 1946 77,834,711 1945 87,196,404 194I 69~;204,385 LORILLARD SALES OVER 10 YEARS (kck n mdllo~u d doltnm) Illlilflfl t1iii1_i1r1 44 /{ w so .,, ,5 , H9 51 .1 $16.218.639 15,085,844 14,200,835 12,734,785 11,094,041 10,509,406 9,153,150 8,456,319, 5,793,091 5,984.078 LORILLARD EARNINGS OVER.10 YEARS (Scu/.~„ ,,,~(I~on. oldollJr./, , w- 111111111 , ' ' ' 1 , 1 1 1 ~ '47 44 577,878.061 67,820,512 66;$49,877 60;8 76,008 58,980,453 56.773;869 55,184,829 53,724,799 52,740,209 ~ 52,138';34iI $23.86 23.24 22.73 22.73 21.89 20:91i 20.20 19.55 19.1'1i 18:84'' LORILLARD~~NETi WORTH~OVER 10 YEARS (Sta/ein mXGuns oLdallan) 70 111111111 -

Alth'oughcompetition was keener in 1953,' Lorillardbrands, U-ing progratns/or introducing king-.size. OLo GOL andd went ah"ead I c', ..Sales Dttisionlswell-planned rnerchandis, 1"/i qushing KES7 helpedbring the Gompanyitsy best sale yiear. a lll__ ~ 12° Ck I l Sales Volume Reached a New High i/ Our major brands shotced gains higher than Industry averages ~ __ \ BRIGHTNEW-CHAPTERw'as written into~ the Lorillard book of sales im 1953. While the Industry as awhole failed'! to advance, Lorillard brands were upi3 % . Our OLD GOLD was the only brand in its cate- gory to show an increase over 1952'sales accord- ing to publi'shed figures widely held'as authorita- tive and which we use as a yardstick to measure comparative Industry growth. Our filter-tip brand KENT showedlthe greatest percentage gain of any cigarette, regardless ofc]assificationf King-size cigarettes as a who]e advanced 45"z 53 accounted for 27% of the market. Our king-size CoLD made rapid strides in the eight! months it was on market and enabled' our principall brand to end t ear as the only cigarette in both regular and king an increase. e to show Ihtroduction ofOLD COLD king-size wasxccom- plished with ow-er-night nation,wiile marke-ai1- ability; an achievement unique in cigarette hisory, When king-size OLD GoLD made its dbbuGe logically shifted promotional emphasis to it in- stead of EMBASSY, which could not be expected to respond as dramatically in the king-size field as a cigarette which has the heritage of~ fine quality long associated with~OLD GOLD. Filter-tip cigarettes continued to grow in popu- larity am]'show-ed a 1213`,%'r gain over 1952. The sales progress of KENT was the talk of the Indus- try; our fillt'r-tip brand' turned in a spectacular 500;5 sales increase. By'late Spring,of 1953 pro- ditetion facilities enabled us to make KES'r avail- POST-WAR GROWTH OF LORILLARD CIGARETTESII x,l VS. ALL OTHER INDUSTRY~ BRANDS IAbLI.. -va0.LLE5 IDKI991 4 L..n. R. Lnik.d 'e.i..ai, Rp-. /e. O. G d. '4 '~B'dA f0 SI '!2-f! -te ,i ~ . . . . _ . ._ _..,. L~~18 X MOMW I'A iN 11A v 1

Among.1953'sdramaticdisplays. tolaunch' OLD GOLD king-sizetcas this neu rack for Itrrgemarkets. The rack "n7so featureaQLo Gauo regular. KesT and L:arnsssr. able inievery I!'. S. city. More of each salesman's time was assigned to assuring a wider availttHility of KF:NTi- and~'1se gave greater enihhasis to smoke demonstrations before medical and dental con- ventions to prove the superiority , ofKF;N'r's, 3ficronite filter. Cigar sales thruughout the Tndustryfluctuate.elduring. the year and. while upslightly in volume; were disappointing,from the standpoint of profit.. He.vnLttis„ now availabl'e in a vacuum-pack. showed the greatest strength in 1953. Mnmet.- our leading cigar brand, which showed am 13E%gpiniin 1952, ddid not advancein 1953. -I-ndaatry, ales of chewing tobaccos fell off 3 ~; rluring,the yea 'fiut our branrl T3e.F:ctt-1t T; the Industry's leader in rL~` lass, continued to enjoy a sales Qain, advancing .3.^t over 1952. On the othu hand, sales of smokingtobaccns, followiirga trendlof several years, continued to~fall off in a narrowing market. Creat ing ege-arresting uindowdispla- ~ ~s aree one phase o f boorillard . sale.smen's actirit y. This is.a typical'displai-for Mcarr:L cigars. -:~L i Samp(ing actiritpl took salesmen ererrachere. errn intoo disastr~r areas.to makeftirndsfur OLO.GoLU. T'hisis a scenc at tornado-su-ept' Idoncester, lfass:,,last summer. Throughout the year the Lorillard sales:orgarr ization was stabilized and strengtherred;at notime in Comparn- history have we had a more hard-working and alert force ofmerchandising specialists. No channel to thc eonsumer was overlooked and some new ones were developed. ]'Ierehandis, ing through food and grocery stores, which Loril- lard pioneereelland ichichno%c accounts for about one-third of all cigarette sales. receicedl oreater attention. The importaneeofvending machines was seeni by Lorillhrd se eral years ago: such sales nurcreltresent Ifi''i of thelndhstry volume. Ih 1953 we developed new deti-icesxb dr.uvsmok- ers to the OLD GOLD columns in vending ma- chines. At c%rryuphortunity -inRFDcountty stores and sleek new airlines terminals. from Social Register functions to county fitirs-Loril- lard=_alesmen were winnin~new' friends:fur c;~ ~ ,,. brands h.ending machinesreceiied'added, atten, tion in 1953 .icith netv adrertisrna rlerxesdesigned to attractsmokersto our.columns. Ih-store snmke dcrnansarationsm too pracr su periorit c. o f ILE:.NT-s aficronite filter becam_rr _ anerer-rridening artiriiy of' oursalesmen.d ~ i. ~:;;~,: i _ , i KENT KENT

t The Advertising, Investment Yielded Greater Dividends LorilIard brand nsages &A1., i*lf q reached 100,000,000 people rueekly in 1953 nveeTTStxc is an investment in product devel- ~ opment, brand loyalty and Company growth. ~o_nfronted with the stiffest competition the In- dustry has ever known, Lorillard strengthened this investment im 1953 to gain greater prominence, for our brands. The test of any investment is the dividend it y,ields. In 1953, the dividend was reflected in tbee fact that Lorillard was one of the few tobaceo companies-and the only major one-that could point to a unit sales increase during the year, an advance of 13 ie over 1952. The advertising investment enables the Com- pany to balance production and consumption- an& tip the scales in favor of safeguarding the: shareholder's interests. Each passing year encoun- ters new cigarette brands which are making an impressive bid for consumer, recognition. To fend off ~ these attempts to, penetrate the lines Heldl by oldlestablished brandS, it may even be necessary in the future to broaden the program of! advertis, ing as a protective measure. Because Lorillard cannot divert the tremendous sums of money to advertising thatisome firms can„ the Company's advertising architects in 1953 had to get more than a dollar's value for, each dollar spent. The Company concentrated its magazinee advertising for Oun GOLD in Life, Look and The Satarday Evening Post, through~which~it reached' an audience of 58;550,000'with each ad. In addi+ tion, OLD GOLD messages were placed in publica- tions having a: specific appeal. In 1950 Lorillard became the firsucigarette producer to advertise in the mass circulation magazines sold throu& grocery chains and super-markets. Ih 1953 the Company decided;to expand'its use of these pub- lications„ a step dictated by the faeu that during the yearone-thiid oflall cigarette sales were made at the check-out counters of food stores. How well the Company succeeded in getting more than a: dollar's value for each dbllar spent was reflected in continuing surveys to determine the number of magazine readers who note OLD GOL'a~advertising. OLD GOLD showed 25% higher recognition per dbllar spent than otherbrands: Of similar interest was the survey report that' 51`,~ of all smokers-regardless ofl their brand preferences-remembered'specific features of~OLn GOLO's advertising. This has special''; significance for us because, in 1953, the tendency, of smokers to switch brands showed a;marked increase. We expanded our use of television on behalf'~ oflOt.u GoLO,in 1953: Our two establishedlshows - Two for the Money and! Chance o fa Lifetime - continued to reachi large weekly audiences, and! we added a bright new show, Judge for .19-c j.kF,t:u Popular Hoosier humorist Herb Shriner reaches18,000,000. weekly via radio,TV alarityof,Dartcir kk's,wa.4'ser~, in 'l0, e, sts for t /aces. ~ ~ KENr.cammercial given by Jonathan.Blake wonmany. TY advertising luonors ia 1953.

a A QUICK LOOK AT LORILLARD'S NETWORK ADVERTISING - "-4 . • _-- - iwe Far Judp Fur~ CKan<e Of O~wn ier Taylen Mw.dor Morninp I Th. Momv. rwrr+elf A 4NIim. Th. W.b' A Dar' I Grm. N.w+ -dl:nes IGm TF.alr:. Audi.~o./W.eklrl. 19,17 1.000. 12.9]r.60D ].242.300~ 13.MAOD1 11.0311.000 3:060,RD0 1.800.000. d]L1.01r. bmw Cemedy O,n.r . . r v nlii N.wrce+r N.w+cea Dra.wy~r SAew 41, ~ , Senp ludpirnp I SAew. ama D ~" e r r 5+ M1.d Dru+L M1en lo Jzk fa.lar Da. Gardin.r a Juw lNk. 6oil'.. Grane l.n M o.daer'. Yanieua ~o.k' N~C ~ 'WMa++/ - CLS /JaII M A!C AEC V'anio.a Dav,andNOUn(EST). Se./Nsr9~ f.9;b IM T~+dura RM /410:M . 10-.I FndaO r+ .30 FM. SundnM+ 10.10:111 PM ~•-Fd. ll:l3~ 12':00..AM S.ndo.. 9:13-9:30 VM Sundov+ GalS-6:30~ FM Vo.ieua TV end. ar padie TV l Aadi. _ IV' TV rY Aedio Aedie 0.odio~ TV. eFS.ariont-TY. Na~ Ali.. NIiM. SDlil.r - - - 2b . Yfilm~ Slfilm 11RIm pRlm - Ele.afSbrisna-Aafd. 209. - 510. 111 3]t - M1edur, FMUr.d OLD GOLD OLD GOLD OLD OOLD ~ IL.nr OLD GOLD OLD GOLD Kenr O,Aer vredurLV Indud.d-rv' Muri.l Mu.ia Muri.f Muriil - • . - - i OIk.rAredurh l d d=R di - nr . o o u ~I Da,.l.pan 9']U:32 53. S~K.'3] 9,'2!'32 1/1~51 10,3052 10-]G:33 10•]I,S] ' An.o~~r.r, D.nni+. D.nnia De :.~~u leneLMan G.n. Tavlar Dan fmrdin.r dill B JonaMon ll k Jdm., lom.+ J am.v kY kY 61e lek.r Gron, ean l.n ey e e - __ ---j -- - -- ---- I o ~ To introduce OLD CoLD kme-sEze. Lortllard errL- s ow„ . onc ar : ornmg a mes p Yotl.r.self, starring Fred Allen. These three TV productions took OLD GoLD's message to more than 34,527,000 Americans weekly. t: „- To, reach~ that vast portion of the American public which relies on radio for its entertainment and news, the Company presented Tioo for the Money, Queen for a Day, and Taytor Grant Neta•s on behalf of'I OLD COLD. ployed to advantage all its rllV and radio shows mQ KFxT~ " as well as the regularly scheduled program of '~._ The effectt%enessoflour KsNTadvertising,won magazine advertising. In additiunl dominant in\many honors in 19531 including being picked ' sertions in 246 newspapers wei-e lined up. FxperienCe with Kt nT in 19a3libeled the popu- ---Z_~ -- -----1^1 I of it's overall promotional yfgram, ~ d cont b- ~ dtina to Comoanv orokfs. This'. we'~ believe, is ' somewhat of a recorkf~ ~ As a resulti we t~e ablJ to give adritfional pro- Y motional supp~to our fllter-tipped brand~ " 1953 we laut~hed KF%:T T re ta su plenent,~ the w'Sdelv/nooular mvsterv+ drama,'Ihe ~'eb'' J on teletXon. and also assigned our radio news ~ romot- I i~ 'if ~ Ht dl' "~ t b ' lar notionl that it takes many years to geti our advertising dollfir, back in the Company's coffers:, KENT cigarettes were introdbeed''in the Spring ofi 1952. Aspreduction and distribution madl; pos- sible wider market availability, effective advertis- ing followed in its support. Consumer response was so gratifying that inl the Summer of 1953'. KeNrl was in the black and'' absorbing the costi Since Lorillard launch'ed Ameriean Indian . film, series,.75',000,000 hace' Diewedth'em: by as the No. 11 commercial for the "hard scllr AdvertisinqAge - The A'dtionaL 1_Vewspaper of Marketing. Throughout the year Lorillard put', its brand messa'gKsbeforemorethan 100.000;000 smokers weekly, getting the maximum I effectiveness from each dollar invested in advertising. Ih19a=1 the _ Companywill demand even greater perform'ance of each ad% ertising dbllar. Dennis Janncs, Oru(Sin.n.annoanc:er, also stars in TV shau;CHance uf a Lifetime. JackBailevsQueen for a Day on behal/ o fOLO. GocD.continaed as topradiop shorc. ODI r~