British American Tobacco Regulatory News (BATS)

4 Oct 2005 07:00

British American Tobacco PLC04 October 2005 For immediate release: Tuesday 4 October 2005 British American Tobacco agrees sale of stake in B.A.R Honda British American Tobacco today confirms that it has agreed the sale of its 55per cent stake in B.A.R Honda to Honda Motor Co. Ltd. The sale is expected totake effect by 31 December 2005. With Honda's existing 45 per centshareholding, purchased in January 2005, this transaction will give Hondacomplete ownership of the team. The B.A.R Honda team (then British American Racing) was established by BritishAmerican Tobacco in 1997. After a challenging first few years it rose to secondplace in the 2004 FIA Constructors' World Championship, one of the quickestascents of a F1 team. British American Tobacco intends to remain as the title sponsor, through LuckyStrike, for the 2006 season, but will honour its long-standing commitment toexit Formula One sponsorship at the end of that season. This is consistent withthe International Tobacco Marketing Standards, to which British American Tobaccovoluntarily subscribed in 2001, along with its major international competitors. Jimmi Rembiszewski, Director, Marketing commented: "It will be sad to end ourassociation but it is immensely satisfying to leave the team in the competenthands of Honda who are proven winners in the sport. We wish Honda every successfor the future and look forward to our last year of sponsorship." British American Tobacco was advised on this transaction by HSBC. ENQUIRIES British American Tobacco Press Office David Betteridge, Teresa La Thangue, Emily Brand +44 (0) 20 7845 2888 Notes to editors • The International Tobacco Product Marketing Standards are globallyapplicable and in some countries, exceed the requirements of local laws orvoluntary codes. British American Tobacco audits its companies' performanceagainst them annually, reports on this in its Social Report and promotesadoption of the Standards by competitors. • The full Standards are on www.bat.com: in Our Business / MarketingStandards. • Reporting on our companies' adherence to the Standards is in www.bat.com/ socialreport: Marketing and Youth Smoking Prevention. • Amongst other detailed points, the International Marketing Standardsstate that, from December 2006, there will be no sponsored events under atobacco product brand where the event may have a particular appeal to youth, mayreceive exposure other than as a news item and where success in the sponsoredactivity requires above average physical fitness. • The Standards also state that no advertisement shall feature a celebrityor suggest that sporting, popularity or professional success is enhanced bysmoking. An advertisement is defined as any communication to consumers whichhas the aim of encouraging them to select one brand of tobacco products overanother. This information is provided by RNS The company news service from the London Stock Exchange