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"Why would a big corporation like Philip Morris borrow money from a small minority bank?"

"In fact, actually we are borrowing over $9.3 million from among some 60 minority-owned banks-and it's good business for all of us.

At Philip Morris we opened our first account with a minority bank 17 years ago. Today, we're doing millions of dollars worth of business with banks owned by Blacks, Hispanics, Women and Native Americans.

We bank where we work.

We directed some of our funds to inner city banks like Freedom National Bank in New York and Gateway National Bank in St. Louis because we think the inner cities' economic well-being benefits all of us and depends on such banks.

We also work with minority-owned banks in towns where we have plants, like the Consolidated Bank and TrustCo. in Richmond, Va., because we want to participate in the total economic life of our plant communities. 

And it's paid off. Thanks to Philip Morris and similarly committed corporations, the number of minority-owned banks has tripled in ten years and deposits have increased five times.

When we take interest, we pay interest, too.

But we'd like to see even more progress. And we're supporting the National Bankers Association's goal to see every major American business (plus a lot of small industries) involved with minority-owned banks. And involved in banking services that create growth and profit for the bank. We think we've got a pretty good way of doing that. And a lot of minority banks agree.

If you want more information about Philip Morris' Minority Banking Program and how  your company can start one, write me at:

Philip Morris Incorporated
100 Park Avenue
New York, New York 10017"

F. Harrison Poole
F. Harrison Poole
Vice President and Treasurer

PHILIP MORRIS HAS A MAJOR INTEREST IN MINORITY BANKING
Philip Morris Incorporated
[[image - Philip Morris logo]]

Makers of Marlboro, Benson & Hedges 100's, Merit, Parliament Lights, Virginia Slims and Multifilter, Miller High Life Beer, Lite and Lowenbrau Special and Dark Special Beer, 7UP and Diet 7UP.
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