NEW YORK--(BUSINESS WIRE)--June 16, 2008--Loews Corporation (NYSE: LTR) today announced that it is changing its ticker symbol to L, effective at the start of trading on Monday, June 23, 2008. To mark the occasion, company officials will ring the opening bell on the floor of the New York Stock Exchange.
This event coincides with completion of the tax free split-off of Loews's entire ownership interest in Lorillard, Inc. (NYSE: LO), which became a separate publicly traded company upon the redemption of Carolina Group stock on June 10, 2008.
"After trading on the New York Stock Exchange for almost fifty years under the symbol LTR, we are pleased to change to the symbol L, which will strengthen the recognition of Loews," said James S. Tisch, Chief Executive Officer of Loews. "While our stock symbol may be changing, our structure and strategy will not: We are a diversified holding company and continue to strive to build value for all shareholders over the long term."
Loews Corporation, a holding company, is one of the largest diversified corporations in the United States. Its principal subsidiaries are CNA Financial Corporation (NYSE: CNA); Diamond Offshore Drilling, Inc. (NYSE: DO); HighMount Exploration & Production LLC; Boardwalk Pipeline Partners, LP (NYSE: BWP); and Loews Hotels.
CONTACT: Loews Corporation
Peter W. Keegan, 212-521-2950
Chief Financial Officer
Darren Daugherty, 212-521-2788
Candace Leeds, 212-521-2416
SOURCE: Loews Corporation