LTR Loews Corp.

NEW YORK, June 3 /PRNewswire/ -- Lorillard Inc. (NYSE:LO) will replace Ambac Financial Group Inc. (NYSE:ABK) in the S&P 500 after the close of trading on Tuesday, June 10. Lorillard is being distributed to the public via a two-tier process involving 1) the retirement of the tracking stock Carolina Group (NYSE:CG), in exchange for which approximately 62% of Lorillard's common stock will be issued, and 2) an offer in which shares of S&P 500 constituent Loews Corp. (NYSE:LTR) can be exchanged for the remaining shares of Lorillard. As of today's close of trading Ambac's market capitalization was roughly $860 million, ranking 500th in the index. Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/. Lorillard is a producer and seller of cigarettes, under brand names including Newport, Kent, True, Maverick and Old Gold. Headquartered in Greensboro, NC, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Tobacco Sub-Industry index. Following is a summary of the changes: S&P 500 INDEX - June 10, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Lorillard Consumer Staples Tobacco DELETED Ambac Financial Financials Property & Casualty Insurance Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned. About Standard & Poor's Index Services Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.32 trillion invested and $4.91 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit http://www.standardandpoors.com/indices. About Standard & Poor's Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit: http://www.standardandpoors.com/. About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies (NYSE:MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com/. DATASOURCE: Standard & Poor's CONTACT: David M. Blitzer, Ph.D. Managing Director & Chairman of the Index Committee +1-212-438-3907 Web site: http://www.standardandpoors.com/ http://www.mcgraw-hill.com/ http://www.standardandpoors.com/indices

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