Lorillard Announces Approval of Share Repurchase Program

Source from:  Thomson Reuters 05/22/2009

May 21 (Reuters) - Lorillard Inc: * Announces approval of share repurchase program and intent to pursue debt * Says board authorized co to proceed with enhancing capital structure through a debt financing * Says proceeds may be used to fund additional stock repurchases, acquisitions, dividends or general corporate purposes * Says repurchase in the aggregate up to $250 million of its outstanding common stock * Says presently has no commitments or agreements with or from any third party regarding such a transaction Enditem