New Valley LLC

NEW VALLEY FACT SHEET – CLICK HERE TO ACCESS

FAQ

What is the present status of New Valley Corporation?

In December 2005, Vector Group Ltd. (NYSE: VGR) completed an exchange offer and subsequent short-form merger whereby it acquired the remaining 42.3% of the common shares of New Valley Corporation that it did not already own. As result of these transactions, New Valley Corporation became a wholly-owned subsidiary of Vector Group Ltd. and each outstanding New Valley Corporation common share was exchanged for 0.514 shares of Vector Group Ltd.’s common stock. The surviving corporation in the short-form merger was subsequently merged into a new Delaware limited liability company named New Valley LLC, which conducts the business of the former New Valley Corporation.

Who is the transfer agent for New Valley’s parent company, Vector Group Ltd. (NYSE: VGR)?

American Stock Transfer & Trust Company
6201 15th Ave
Brooklyn, NY 11219
1-877-777-0800 ext. 6820

info@amstock.com
www.amstock.com

What are the tax consequences of the Ladenburg Thalmann distribution, which was received in 2005?

Please review this document for a detailed explanation of the tax consequences of the 2005 distribution of Ladenburg Thalmann Financial Services, Inc. (NYSE MKT: LTS)

What were the tax consequences of the Ladenburg Thalmann distribution, which was received in 2001?

Please review this document for a detailed explanation of the tax consequences of the 2005 distribution of Ladenburg Thalmann Financial Services, Inc. (NYSE MKT: LTS)

Please describe New Valley’s Plan of Recapitalization, which was completed in June 1999.

New Valley consummated a Plan of Recapitalization on June 4, 1999, following approval by New Valley’s stockholders. Pursuant to the Plan of Recapitalization:

• each $15.00 Class A senior preferred share ($100 liquidation) was reclassified into 20 common shares and one warrant (which expired at the close of business on June 14, 2004) exercisable for five years,
• each $3.00 Class B preferred share was reclassified into 1/3 of a common share and five warrants (which expired at the close of business on June 14, 2004), and
• each outstanding common share was reclassified into 1/10 of a common share and 3/10 of a warrant (which expired at the close of business on June 14, 2004).

What were the tax consequences of New Valley’s Recapitalization, which occurred in 1999?

Please review this document for a detailed explanation of the tax consequences of New Valley’s Recapitalization.