A year ago, Licensed to Kill, Inc, a tobacco company with the explicit purpose of “manufacturing and marketing tobacco in a way that each year kills over 400,000 Americans and 4.5 million other persons worldwide” was incorporated in the Commonwealth of Virginia.

On Wednesday, April 28, 2004, our company held its first meeting of
“stockholders” in East Hanover, NJ. The meeting fell one day before the annual meeting – also in East Hanover, NJ – of our company’s chief rival and fellow Virginia-based corporation, Altria Group, the world’s largest multinational tobacco company. Read on for the full report!

LARGE NUMBER OF "STOCKHOLDERS" ATTEND L2K MEETING

Over 150 "stockholders" attended Licensed to Kill's first meeting of stockholders, held in the Garden Ballroom of the Ramada Inn in East Hanover, NJ. Security was tight, with each attendee required to show an admission ticket and a copy of their "stock certificate" before guards would admit them into the meeting. View a copy of the stock certificate

Upon entering the meeting space, "stockholders" were given "I'm Proud to be a Licensed to Kill Stockholder" stickers to wear and greeted by sexy cigarette girls holding Licensed to Kill cigarette packs.

The room was filled with decorations to mark the big event, including a small coffin filled with Licensed to Kill cigarette packs, poster-size photos of the company's deadly line of cigarette brands, a pyramid of giant Licensed to Kill cigarette packs, and the great "logos and stripes" of the "United Corporations of America" flag. One nation under Mammon.

Corporate displays set up around the room gave Licensed to Kill
"stockholders" the opportunity to learn more about the company's
products, promotional campaigns, business strategies, and philanthropic
efforts, such as:

Licensed to Kill's "Need a Babysitter?" public relations campaign

Licensed to Kill's Strategies to Increase Sales to Youth

"L2K World," a new Licensed to Kill theme park featuring fun for the entire family in a free smoking environment!

Forlorn Faces Orphanage. At Licensed to Kill, "We don't just build the orphanage, we fill it too!"

Licensed to Kill "stockholders" also had the unique opportunity to mingle with company executives, directors, and new directors up for election preceding the official start of the meeting. Click here for a photo of one young "stockholder" talking with Altria director (and L2K director-elect) Thomas W. Jones.

LICENSED TO KILL ANNUAL MEETING OF STOCKHOLDERS

1. CALL TO ORDER

Licensed to Kill CEO Rich Fromdeth opened up the meeting with a brief welcome and opening comments. He told the sea of "stockholders" that as a resident of New York -- a state that is regrettably "smoke-free" -- it is a pleasure to be in New Jersey, a state where one may "smoke freely." Tobacco smoke, said Fromdeth, is "music to my nostrils"!

View the meeting agenda

2. BUSINESS PRESENTATION

Licensed to Kill's CEO Rich Fromdeth and Senior Vice President of
Corporate Communications Corrie "Core" Prutspin then presented a
detailed overview of the company's activities in the last year. [Photo 2]

View transcript and photos of business presentation

3. QUESTIONS & COMMENTS

Licensed to Kill Execs field numerous questions and comments from stockholders. Many stockholders praised the company for success in selling death around the world. Some made suggestions for new business ventures the company might launch.

Other stockholders had clearly obtained stock in a futile attempt to negatively influence our company’s efforts to expand globally. One naïve stockholder asked CEO Rich Fromdeth how he sleeps at night? (Very well, thanks!)

And a representative of the “corporate accountability” group Infact presented lengthy comments about tobacco industry influence in the Framework Convention on Tobacco Control, before CEO Rich Fromdeth finally interrupted and asked her to get to the point. Ah, some stockholders can be such a pain in the you know what! [Photo 2]

4. BUSINESS OF THE MEETING

* SELECTION OF INDEPENDENT AUDITORS *

Licensed to Kill’s original proposal of Arthur Anderson was rejected, since the corporate auditor unfortunately no longer exists. The company instead proposed the selection of Altria’s auditor, PriceWaterhouseCoopers.

* ELECTION OF DIRECTORS *

Licensed to Kill’s Board of Directors felt that the corporation would benefit from an expansion of the board. In addition to calling on stockholders to re-elect the current board of directors (Rich Fromdeth, Core Prutspin, and James Loves Munnee), the board asked stockholders to elect 10 new directors with extensive experience in making a killing worldwide, none other than Altria’s board of directors!

A number of Altria’s board were on hand to give brief presentations tostockholders on their qualifications to lead a company that aims to profit off of killing 4.9 million worldwide annually.

Altria Director Lucio A. Noto informed L2K stockholders of his extensive experience in the oil industry (Exxon Mobil Corporation), where he gained experience fighting international treaties, such as the Kyoto protocol.

Altria Director Elizabeth E. Bailey, a Professor of Business and Public Policy at University of Pennsylvania’s Wharton School, has good connections as a trustee of The Brookings Institute and the National Bureau of Economic Research.

Altria Director Thomas W. Jones is the Chairman and CEO of Global Investment Management of Citigroup, Inc. He also currently serves as a director of Fox Entertainment Group Inc. Ties to major media never hurt!

Other Altria Directors nominated for election to L2K’s Board of directors include:

• Mathis Cabiallavetta (Vice Chairman, Marsh & McLennan Companies)
• Louis C. Camilleri (Chairman & CEO, Altria)
• J. Dudley Fishburn (Director, HSVC Bank plc, UK)
• Robert E. R. Huntley (former CEO of Best Products Co, Inc; former
  President, Washington and Lee University)
• John S. Reed (Interim Chairman, New York Stock Exchange; Retired
  Chairman and Co-CEO, Citigroup, Inc)
• Carlos Slim Helu (Chairman of Telefonos de Mexico and Carso Global Telecom; member of NYSE’s Advisory Council for Latin America)
• Stephen M. Wolf (Chairman, R.R. Donnelley & Sons Company; former CEO of United Air Lines; trustee of The Brookings Institute and the World Wildlife Fund)

Photo: Altria Directors Lucio Noto, Huntley, and Fishburn sit at the front table with L2K Director Core Prutspin

Read more about all directors up for election in Licensed to Kill’s “Notice of Annual Meeting of Stockholders & Proxy Statement" (see also attachments 1, 2, 3)

Read more about the role of corporate directors

* STOCKHOLDER PROPOSALS *

Stockholders submitted six proposals for a vote. Three were STRONGLY OPPOSED by the company:

Proposal 1*: Ways of more adequately warning pregnant women (of the harms of tobacco to themselves and the fetus). Presented by a “representative” of the Sisters of Charity of Saint Elizabeth

Proposal 3*: Political disclosure resolution

Proposal 5*: Cease promoting light and ultralight brands

And three were STRONGLY FAVORED by the company:

Proposal 2: Hire a third party agent to get more of our product being used in Hollywood films

Proposal 4: Commission a study on which countries in Africa, Asia, Latin America, and Eastern/Central Europe would be friendliest to our overseas expansion and offer best access to the next generation of smokers

Proposal 6: Hire a lobbyist to look into tax breaks from the Commonwealth of Virginia, similar to those granted Altria.

* Stockholders submitted identical proposals to Altria. Click here for more info (proposals start on page 39)

5. REPORT OF THE INSPECTORS OF ELECTION

Stockholders approved selection of PriceWaterhouseCoopers as independent auditor.

Licensed to Kill’s Board of Directors was re-elected. Election of Altria Directors was also approved, but CEO Rich Fromdeth said that a final decision and formal invitations would be put on hold, pending a favorable review of the Altria Directors “in action” at Altria’s Annual Meeting of Stockholders the next day.

Stockholders voted overwhelmingly AGAINST the three stockholder proposals opposed by Licensed to Kill, and voted overwhelmingly FOR the three stockholder proposals favored by the corporation.

ROWDY YOUTH GET THROWN OUT OF MEETING BY SECURITY GUARDS

At several points during the meeting, young “stockholders” became disruptive, publicly disagreeing with CEO Rich Fromdeth and shouting hostile chants. Luckily, Licensed to Kill security guards were on hand to physically remove the rowdy youth from the premises!

HAPPY BIRTHDAY LICENSED TO KILL!

The meeting ended with an acknowledgement of the corporation's one year anniversary and closing comments by CEO Rich Fromdeth regarding the importance of putting “profits over people.”

READ LICENSED TO KILL’S 2003 ANNUAL REPORT

Licensed to Kill Inc 2003 Annual Report (pdf)
Appendix A
Appendix B, more
Appendix C:
Supplements: 1, 2, 3, 4

To order a hardcopy of the report, send an email request to tobacco@licensedtokill.biz

MISCELLANEOUS

View more photos from Licensed to Kill’s 2004 Meeting of Stockholders:

For more information about Licensed to Kill, visit www.licensedtokill.biz