8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 9, 2009

ALTRIA GROUP, INC.

(Exact name of registrant as specified in its charter)

Virginia (State or other jurisdiction of incorporation) 1-8940 (Commission File Number) 13-3260245 (I.R.S. Employer Identification No.)

6601 West Broad Street, Richmond, Virginia	23230
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:    (804) 274-2200

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure.

On September 9, 2009, Altria Group, Inc. (the “Company”) announced that the Company’s Chairman and Chief Executive Officer, Michael E. Szymanczyk, will be giving a live presentation at the Barclays Capital 2009 Back-to-School Consumer Conference in Boston, Massachusetts. His remarks will focus on the Company’s performance as well as the opportunities for future growth. He will also discuss the Company’s earnings per share guidance for 2009. In connection with the presentation, the Company is furnishing to the Securities and Exchange Commission the following documents attached as exhibits to this Current Report on Form 8-K and incorporated by reference herein: the text of Mr. Szymanczyk’s remarks attached as Exhibit 99.1 hereto, the presentation slides attached as Exhibit 99.2 hereto, and the press release announcing the key highlights of the presentation attached as Exhibit 99.3 hereto.

Reconciliations of non-GAAP measures included in the presentation and presentation slides to the most comparable GAAP measures are set forth in Exhibit 99.2 hereto. Reconciliations of non-GAAP measures included in the press release are set forth therein.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including the exhibits hereto, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.

Item 9.01. Exhibits.

(c) Exhibits

99.1	Remarks by Michael E. Szymanczyk, Chairman and Chief Executive Officer, Altria Group, Inc., dated September 9, 2009 (furnished pursuant to Item 7.01).
99.2	Altria Group, Inc. Presentation Slides, dated September 9, 2009 (furnished pursuant to Item 7.01).
99.3	Altria Group, Inc. Press Release, dated September 9, 2009 (furnished pursuant to Item 7.01).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ALTRIA GROUP, INC.
By:	/s/ W. Hildebrandt Surgner, Jr.
	Name:	W. Hildebrandt Surgner, Jr.
	Title:	Corporate Secretary and Senior Assistant General Counsel

DATE: September 9, 2009

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	Remarks by Michael E. Szymanczyk, Chairman and Chief Executive Officer, Altria Group, Inc., dated September 9, 2009 (furnished pursuant to Item 7.01).
99.2	Altria Group, Inc. Presentation Slides, dated September 9, 2009 (furnished pursuant to Item 7.01).
99.3	Altria Group, Inc. Press Release, dated September 9, 2009 (furnished pursuant to Item 7.01).

EX-99.1

EXHIBIT 99.1

Remarks by Michael E. Szymanczyk, Altria’s Chairman and Chief Executive Officer at the Barclays Capital Back to School Consumer Conference

Boston, MA

September 9, 2009

Remarks by Mr. Fleet

Good morning and thank you for joining us for today’s presentation.

Our remarks today contain projections of future results. I direct your attention to the Forward-Looking and Cautionary Statement section at the end of today’s press release for a review of the various factors that could cause actual results to differ from projections. Altria Group, Inc. (Altria) reports its financial results in accordance with generally accepted accounting principles. Today’s presentation may contain various operating results on both a reported basis and on an adjusted basis, which excludes items that affect the comparability of reported results. Reconciliations are available on our website, www.altria.com.

Now, it gives me great pleasure to introduce Mike Szymanczyk, Chairman and Chief Executive Officer of Altria.

Remarks by Mr. Szymanczyk

Thank you Cliff and good morning everyone. Joining me here today are Dave Beran, Altria’s Executive Vice President and Chief Financial Officer; Craig Johnson, Executive Vice President of Altria and President of Philip Morris USA (PM USA); Marty Barrington, Altria’s Executive Vice President, Chief Compliance & Administrative Officer; and Murray Garnick, Altria’s Senior Vice President of Litigation. We are pleased to be here today discussing Altria’s performance against its 2009 plan to deliver strong returns to our shareholders, as well as our opportunities for future growth.

Altria is the premier tobacco company in the United States with three operating companies which have leading positions in the major tobacco categories of cigarettes, smokeless tobacco and

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machine-made large cigars. Altria’s tobacco operating companies have four terrific brands: Marlboro, Copenhagen, Skoal and Black & Mild, which are well-positioned in their respective categories. Altria also has a substantial position in the alcohol business with Ste. Michelle Wine Estates (Ste. Michelle) and an economic interest in SABMiller plc. (SABMiller).

The last year has been one of transition for Altria as the company continues reshaping itself to be best positioned to take advantage of total tobacco space opportunities.

• We successfully completed the integration of John Middleton Co. (Middleton) with its leading brand Black & Mild, giving Altria a strong position in the highly profitable and growing machine-made large cigar category;

• We are successfully executing the integration of UST LLC (UST) and its smokeless subsidiary U.S. Smokeless Tobacco Company (USSTC), giving Altria the leading position in the growing and profitable smokeless tobacco category;

• We have used the UST acquisition as a catalyst to reshape our corporate structure through the creation of three central support organizations – Altria Client Services, Altria Sales & Distribution and Altria Consumer Engagement Services – each of which will more efficiently and effectively provide services to our operating companies; and finally,

• We continue to reduce our cigarette-related infrastructure ahead of volume declines through actions such as PM USA’s closing of the Cabarrus, NC cigarette production facility.

The external environment for business in general and tobacco companies in particular has been challenging through the first eight months of 2009.

• The economy has remained in recession, with high unemployment and low levels of consumer confidence;

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• Excise taxes on tobacco products have significantly increased; and

• On June 22, the President signed the Family Smoking Prevention and Tobacco Control Act into law, granting the Food and Drug Administration (FDA) regulatory authority over tobacco products.

The economic environment remains challenging, as unemployment levels are above 9% and consumer confidence remains very low when compared to the past decades. We remain cautious about the impact this environment has on adult consumers, and are vigilant about appropriately managing the value equations on our operating companies’ leading premium brands during these difficult economic times.

On April 1, federal excise taxes (FET) on tobacco products significantly increased, which included a $0.62 increase on a pack of cigarettes, bringing the federal excise tax to $1.01 per pack. In addition, there have been several state excise tax increases on cigarettes enacted over the course of the year. Through September 1, twelve states and Puerto Rico have increased their cigarette excise taxes with an average increase of $0.51 per pack. The weighted average state excise tax on a pack of cigarettes as of September 1 was $1.24, an increase of $0.12 from the beginning of the year.

As a result of these tax increases and manufacturers’ pricing and promotion changes, the average retail price for a pack of cigarettes increased approximately 25% in the second quarter of 2009 versus the same year-ago period. When adjusted for changes in trade inventories, the cigarette category’s volume declined an estimated 8% in the second quarter of 2009, which is in-line with historical price elasticity. The estimated long-term growth rates for the machine-made large cigars and smokeless tobacco categories remained relatively stable, at 3% and 7%, respectively.

The tobacco manufacturers’ profit pool continued to grow despite this challenging taxation environment. In the first half of 2009, the estimated total tobacco profit pool increased 7.5% to $5.6 billion versus the first half of 2008. Altria’s estimated share of this manufacturers’ profit pool increased from 48% to 55%, primarily due to our acquisition of UST earlier this year.

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As I mentioned earlier, FDA legislation was signed into law in June. Federal regulation of tobacco products will bring about change which, if implemented thoughtfully, should benefit adult tobacco consumers in the long-term. In addition, having clear rules established by a federal agency should promote more predictability as to how each of us in the tobacco industry is expected to operate.

While we do not agree with every element of this law, including those we believe cross constitutional limits, we supported its enactment. We intend to work constructively with the agency and others in the industry in a way that enables the FDA to benefit from our experience, knowledge and expertise, and respects the many stakeholders involved in the tobacco industry.

The implementation of this law will take place over time. Some provisions took effect when the President signed the bill into law. Many of the changes required by the statute, however, will not take effect for some time. Several areas require the FDA to take action through rulemaking, which generally involves consideration of public comment and, for some issues, scientific review.

Here are a few highlights of what we expect to happen between now and next August as the law is implemented.

• The first quarterly user fees to pay for FDA regulation are due later this month. The industry user fee is $82 million in 2009 and increases to $289 million in the 2010 calendar year. The user fee is allocated among regulated tobacco manufacturers based on their federal excise tax payments and other factors;

• In March 2010, the FDA is required to issue regulations regarding the sale, promotion and advertising of cigarettes and smokeless tobacco products;

• By June 2010, cigarette manufacturers are required to remove descriptors, such as “light” and “low tar,” from cigarette packs and advertising, and smokeless tobacco manufacturers are required to make packaging label changes, including an additional text warning; and

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• By August 2010, the Tobacco Products Scientific Advisory Committee is to issue a report on the impact of menthol on public health.

There are other changes that are scheduled to take effect at various times after August 2010, including color graphic warnings for cigarettes. The FDA is required to prescribe color graphic warning requirements by no later than June 2011. Cigarette manufacturers will then have fifteen months from this FDA regulation to comply, which could be as late as September 2012.

The implementation of this regulatory framework over the coming years will bring about change. Each of our companies has a long history of successfully adapting to changes in the business operating environment, and many of you have seen us do so, whether it was the implementation of the Master Settlement Agreement or other federal, state or local legislation. We have been preparing for this regulatory framework for many years, and we accelerated our work after enactment of the law with the creation of a regulatory affairs department to coordinate all the activities of Altria’s operating companies. I am confident that Altria and its talented employees will successfully adapt to FDA regulation.

Despite challenges faced in this difficult operating environment, Altria performed very well in the first half of 2009. Our cigarettes segment’s adjusted operating companies income increased 8.8% compared to the first half of 2008. Marlboro’s retail share was the same as the first half of 2008, despite the pricing dislocation caused by the federal excise tax increase and competitive promotional spending.

The smokeless products segment reported adjusted operating companies income of $339 million for the first six months of 2009. The UST integration is proceeding very smoothly and over 98% of planned employee separations have occurred. UST’s smokeless business, USSTC, is now a brand management and manufacturing company, with the rest of its business needs provided under services agreements with our centralized support organizations: Altria Client Services, Altria Sales & Distribution, and Altria Consumer Engagement Services. Additionally, in late March, USSTC enhanced the value equation on Copenhagen and Skoal with a national everyday low price strategy. As a result, USSTC’s premium retail share of moist smokeless tobacco sales stabilized, as it began and ended the second quarter of 2009 at the same level. USSTC continues to monitor and modify its pricing on a local basis as required by competitive conditions.

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The cigars segment’s adjusted operating companies income was up 3.2% through the first half of 2009, despite a first-half volume decline of 7.8%, primarily due to one-time changes in trade inventories. Black & Mild continued its strong retail share performance, growing 1.9 share points.

Through the first half of the year, the wine segment’s adjusted operating companies income was $24 million. Altria’s wine segment continues to show strong underlying strength, but has been negatively impacted by continuing trade inventory depletions and weakness in on-premise sales, including restaurants and bars.

For the first six months of 2009, the financial services operating companies income increased by $99 million to $203 million, primarily due to higher gains on asset sales.

Altria’s $1.5 billion cost reduction program remains on track. Altria and its operating companies achieved savings of $805 million off their 2006 cost base through the end of the second quarter of 2009. These cost reduction initiatives have significantly improved operational efficiencies across the Altria family of companies and reduced headcount. The headcount of Altria and its family of companies at the end of August was essentially the same as it was at the end of 2008, despite the acquisition of UST and its subsidiaries USSTC and Ste. Michelle on January 6, 2009.

Altria has also maintained its strong balance sheet and a focus on dividends. On August 27, Altria’s Board of Directors authorized a 6.3% increase in the annual dividend to $1.36 per common share, reflecting the underlying financial strength of our business. Over the last five years, Altria has increased its dividend by an average of 8.5% per year.

Altria continues to deliver solid earnings per share growth and strong returns to its shareholders. Through the first half of the year Altria’s adjusted diluted earnings per share increased 8.5%

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compared to the same period in 2008, and the company’s total shareholder return was 26% as of August 31, outpacing the S&P 500’s total return of 15% and the S&P Food, Beverage & Tobacco Index’s total return of 10%. Due to our FET-related pricing strategies earlier this year, our third and fourth quarters of 2009 are planned to have lower adjusted EPS growth when compared to the first and second quarters of this year. However, we remain confident of growing our adjusted full-year earnings per share to a range of $1.72 to $1.77, representing a growth rate of 4% to 7% from an adjusted base of $1.65 per share in 2008.

We are very pleased with Altria’s 2009 performance, and are laying a strong foundation for future success. We are focused on four growth objectives:

• First, maximizing income while maintaining share momentum on Marlboro in the cigarette category;

• Second, returning Copenhagen and Skoal to volume growth in-line or slightly ahead of category growth rates;

• Third, profitably assuming share leadership in the machine-made large cigar category driven by the growth of Black & Mild; and finally,

• Continuing to grow Ste. Michelle’s income and improve its return on assets.

Altria’s tobacco operating companies increase their profitability primarily with investments behind four strong premium brands: Marlboro, Copenhagen, Skoal and Black & Mild. These brands all have sizeable share of their respective categories, strong adult demographics and high brand loyalty. They also have opportunities to continue growing their share and income by offering adult consumers new and innovative products in segments the brands have historically underserved.

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PM USA has a strong position in the cigarette category, with a retail share of 50.2% in the first half of 2009. PM USA continues to build its cigarette profitability by focusing primarily on Marlboro, which is by far the nation’s largest cigarette brand.

The cigarette category’s largest segment is non-menthol, with a retail share of 71% in the first half of 2009. PM USA’s retail share of the non-menthol segment during this period was 59%. It was the leading company in every part of the non-menthol segment, from full-flavor to ultra-light.

The menthol segment constitutes the balance of the cigarette category, with a first-half retail share of 29%, just above its prior historical peak in 1982. PM USA has a 28% share of the menthol segment and a strong position in every menthol area except one – full-flavor menthol. It is in this area that PM USA is focusing its new product activity, as it represents the greatest opportunity for growth.

Since 2002, PM USA has increased its share of the menthol segment from 24.5% to 28%, largely due to the success of Marlboro Menthol. During that time period, Marlboro Menthol grew 2.8 share points behind a number of successful product line extensions, and was the nation’s fastest-growing menthol brand, and is now the menthol segment’s second largest brand. In the second quarter of 2009, PM USA introduced Marlboro Blend No. 54, the latest innovative menthol packing from Marlboro. Since its introduction, Marlboro Blend No. 54 has generated strong trial among adult tobacco consumers. PM USA is also planning to introduce L&M Bold Menthol later this year as an excellent value for adult full-flavor menthol consumers in geographies with high full-flavor menthol development.

Altria’s tobacco operating companies have a very strong position in the highly profitable and growing smokeless tobacco business. For the first half of 2009, USSTC’s and PM USA’s retail share of the smokeless tobacco category, which we now define as moist smokeless and spit-less tobacco products, was 55.5%.

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USSTC plans to build its smokeless category profitability by focusing primarily on Copenhagen and Skoal, which are the category’s leading premium brands. PM USA will focus its efforts on Marlboro smokeless tobacco products.

Today, smokeless tobacco products fall into five primary flavor segments: wintergreen, natural, straight, mint and all other. The wintergreen segment is the largest at 39%, followed by natural at 33% and straight at 11%.

USSTC has strong share positions in most of these flavor segments, but is underdeveloped in the growing wintergreen segment. This is because Copenhagen, despite having a 23% share of the total smokeless category in the first half of 2009, does not have a wintergreen offering. USSTC plans to take advantage of this growth opportunity by launching Copenhagen Wintergreen Long-Cut this fall. If Copenhagen were to achieve a 23% share of the wintergreen segment, that represents a nine share point opportunity.

Adult smokeless tobacco consumers also like to buy products in different forms, primarily characterized today as long-cut, fine-cut, and pouches. Long-cut is the largest selling form, at approximately 62% of the smokeless category, followed by fine-cut at 28% and pouches at 10%. The long-cut and pouch segments are growing, while fine-cut is declining. USSTC is the industry leader in fine-cut and pouches, and underdeveloped in long-cut, a situation that should be helped by the launch of Copenhagen Wintergreen Long-Cut.

Both USSTC and PM USA are planning initiatives to take advantage of the rapid growth in pouches over the last few years. Several initiatives in this area will unfold late this year and in 2010. One of them is the expansion of Marlboro Snus. This innovative product allows adult consumers to enjoy tobacco with a spit-free pouch, which comes in a convenient and attractively priced recloseable package to maintain freshness. PM USA will expand Marlboro Snus more broadly this fall.

Wintergreen, long-cut and pouches represent just some of the significant growth opportunities before us as we complete the integration of USSTC and the restructuring of Altria.

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We also see significant, unexploited opportunities for growth in the machine-made large cigar category. Middleton has a strong position in this category with its growing Black & Mild brand.

The machine-made large cigar category consists of three segments. Tipped cigarillos represented 35% of machine-made large cigar volume in the first half of 2009, while untipped cigarillos and non-cigarillos represented 43% and 22%, respectively.

Middleton, with its leading brand Black & Mild, has historically competed primarily in the tipped cigarillo segment. Its retail share of tipped cigarillos in the first half of 2009 was 84%, an increase of 2.4 share points from the preceding year. Product innovations such as Black & Mild Wood Tip, and the newly introduced Black & Mild Wood Tip Wine have helped build the brand’s strong position among adult consumers who smoke tipped cigarillos.

Untipped cigarillos represent the largest incremental growth opportunity for Middleton. Untipped cigarillo retail share grew 3.6 share points in the first half of 2009 versus the prior year period, and Middleton historically has had no products in this growing segment. In the third quarter, the company began test marketing its new untipped product, Black & Mild Cigarillo, in the state of Georgia. We believe that this product, as well as other untipped tobacco products, represent a significant opportunity for Middleton to grow its share and income in the future.

So, Altria’s tobacco operating companies are planning to introduce an array of innovative tobacco products in 2009 and others that I haven’t mentioned in 2010 to continue building their brands and grow retail share and income. These products should allow our tobacco operating companies to build their businesses in growing segments they have historically underserved. Many of these initiatives are scheduled to be in the marketplace by early December 2009, with full impact on volume, share and income expected in 2010 and beyond.

Altria’s leadership position in the tobacco space through its tobacco operating companies enables a comprehensive approach to tobacco category management at the retail level. The tobacco space is very important to many retailers. According to Convenience Store News, the cigarette category alone represented about 33% of in-store convenience store revenues, and about 17% of in-store profits in 2008. In addition, the other tobacco products segments, which include smokeless tobacco and cigars, were the fastest-growing category in convenience stores outside of food service.

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In June 2009, we created Altria Sales & Distribution to better manage Altria’s leadership position in the total tobacco space. This organization serves all our tobacco operating companies and has over 2,000 highly trained professionals calling on over 240,000 stores at least once a month. Its role is to strengthen relationships with tobacco wholesalers and retailers by designing and implementing retail trade programs for PM USA, Middleton, and USSTC centered on the following principles:

• First, having the best brands in the best positions;

• Second, allocating shelf space to brand share to assure in-stock inventory;

• Third, communicating new products and promotions to adult tobacco consumers; and finally,

• Encouraging underage sales prevention through non-self service merchandising.

In addition to trade programs, Altria Sales & Distribution provides fixtures, promotions, and suggestions around product selection and pricing strategies for our tobacco operating companies’ brands to help retailers manage their business to satisfy adult tobacco consumer preferences and to improve profitability. An integrated tobacco category platform at retail stores should generate operational efficiencies for stores by generating higher profitability per square foot, improving the visibility of the higher margin tobacco segments of smokeless tobacco and machine-made large cigars to adult consumers, while also reducing youth access to tobacco products.

This organization also enables the effective introduction of new and innovative products to meet changing adult consumer preferences. Altria Sales & Distribution has significantly improved the speed to market for new product launches, reducing the time needed for new cigarette launches

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by almost 30% compared to 2006. This enhanced speed to market, initially developed by PM USA, is now being applied to USSTC’s and Middleton’s brands to improve the retail presence and look of new and innovative products offered by these companies. Altria Sales & Distribution has also proven its ability to manage multiple initiatives across all of Altria’s tobacco operating companies. Through the first six months of 2009, over one hundred initiatives were successfully executed, a substantial increase from prior years.

Because tobacco products are so important to many retailers’ financial success, Altria Sales & Distribution assists these retailers to responsibly grow their tobacco profits by providing them valuable insights and information. Altria Sales & Distribution plans to roll out a new category management tool called “CatMan” to provide relevant insights and help retailers better manage their tobacco categories. This tool will provide retailers store-level and marketplace data for the tobacco categories, as well as revenue and contribution information down to the item level. It should allow the trade to better analyze their business and opportunities for growth.

Ste. Michelle remains one of the fastest-growing top-ten premium wine producers in the United States, with a strong portfolio of well-regarded wines. Ste. Michelle remains focused on its “String of Pearls” growth strategy, where the company develops or acquires unique wine assets or distribution rights with legacies of leadership and growth in key wine segments. In April 2009, Ste. Michelle became the exclusive U.S. importer of Champagne Nicolas Feuillatte, the number one selling champagne brand in France and number three at the international level. This agreement allows Ste. Michelle to fill a category niche in its product portfolio while leveraging its existing U.S. based infrastructure. Ste. Michelle has performed very well over the past few years, growing its operating companies income and return on assets, and plans to remain focused on these objectives, while bringing some diversity to our operating company portfolio.

I would now like to make a few comments on tobacco-related litigation. Overall, Altria and its subsidiaries have achieved substantial success in managing litigation, but, as has been the case in the past, significant challenges remain. A detailed discussion of the companies’ litigation can be found in our most recent Form 10-Q, available on www.altria.com. Although I will not take the time now to repeat that discussion, we would be happy to answer any questions you may have when we get to our question and answer session. Our approach to litigation remains the same: we have vigorously defended litigation claims in the past and will continue to do so in the future.

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Overall, we are very pleased with Altria’s 2009 first-half financial performance:

• The company reported strong adjusted diluted earnings per share growth of 8.5% versus the year-ago period;

• Altria recently increased its dividend by 6.3% to an annualized rate of $1.36 per share; and

• Altria’s total return to shareholders through August 31, 2009 was 26%. With a current dividend yield of 7.4%, Altria remains a very compelling investment.

Altria is mindful of its long-term adjusted earnings per share growth target of 8% -10% per year. We continue to believe this is an achievable objective, though the company is not immune from the business environment in any given year, such as the challenging operating environment faced by almost all companies in 2009.

Altria is focused on four strategies to achieve its long-term growth target.

First, grow income by investing in the four strong brands of its tobacco operating companies, while continuing to optimize cost structures. Marlboro, Copenhagen, Skoal and Black & Mild are well-positioned in the largest and most profitable tobacco categories, and have ample growth opportunities through the introduction of new products into segments they have historically underserved.

Second, remain focused on returning a large amount of cash to shareholders with an aggressive dividend policy. Altria plans to maintain its targeted 75% dividend payout ratio, and increase its dividend in-line with future adjusted earnings per share growth. Altria has increased its dividend forty-two times in the last forty years. In an environment where seventy-four companies in the S&P 500 have cut their dividends since July 2008, our recent 6.3% increase demonstrates our commitment to return a significant amount of cash to shareholders through dividends.

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Third, preserve a strong balance sheet. A conservative balance sheet protects the company’s investment grade credit rating, ensures access to the capital markets for both short and long-term debt, and allows the company to have adequate liquidity to respond to unforeseen circumstances and protect the cash flow generated from ongoing operations.

Altria’s economic interest in SABMiller is an important element of the balance sheet and contributes to Altria’s financial performance by:

• First, helping solidify Altria’s investment grade credit rating;

• Second, growing Altria’s earnings per share; and finally,

• Strengthening Altria’s financial profile.

This investment has grown in value from $3.4 billion in 2002 to $10.0 billion as of August 31, 2009. Since 2002, when Altria first held an economic interest in the company, the SABMiller investment has also contributed $3.1 billion in equity earnings and paid over $1.3 billion in dividends to Altria. We currently plan to maintain our interest in SABMiller.

Our final strategy is to reduce the cost of debt. Reducing debt costs will increase income, strengthen the balance sheet, and also grow adjusted earnings per share.

For now, we see this path as superior to share repurchases. Successfully maintaining our focus on these four strategies should enable us to continue delivering superior returns to our shareholders out into the future.

Thank you for the opportunity to speak with you.

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EX-99.2

2009 Barclays Capital

Back-To-School Consumer

Conference Presentation

September 9, 2009

Exhibit 99.2

Cliff Fleet

Vice President

Investor Relations

Altria Client Services

Safe Harbor Statement

Statements in this presentation that are not reported financial results or other

historical information are “forward-looking statements”

within the meaning of

the Private Securities Litigation Reform Act of 1995.  Such forward-looking

statements are based on current plans, estimates and expectations, and are

not guarantees of future performance.  They are based on management’s

expectations that involve a number of business risks and uncertainties, any

of which could cause actual results to differ materially from those expressed

in or implied by the forward-looking statements. The Company undertakes no

obligation to publicly update or revise any forward-looking statement other

than in the normal course of its public disclosure obligations. The risks and

uncertainties relating to the forward-looking statements in this presentation

include those described under the caption “Cautionary Factors that May

Affect Future Results”

in the Company’s 2008 Annual Report and its

Quarterly Report on Form 10-Q for the quarter ended June 30, 2009

Reconciliations of non-GAAP measures included in this presentation to the

most comparable GAAP measures are available on the Company’s website

at www.altria.com

Mike Szymanczyk

Chairman and

Chief Executive Officer

Altria Group, Inc.

Altria’s Executive Management

Mike Szymanczyk

Chairman and Chief Executive Officer, Altria

Dave Beran         

EVP and Chief Financial Officer, Altria

Craig Johnson     

EVP, Altria; and President, PM USA

Marty Barrington    

EVP, Chief Compliance & Administrative        

Officer, Altria

Murray Garnick        SVP and Associate General Counsel, ALCS

Reshaping Altria

Completed the integration of John Middleton Co.

Executing the integration of UST LLC

Reshaped the corporate structure with three central support

organizations

–

Altria

Client

Services

–

Altria Sales & Distribution

–

Altria Consumer Engagement Services

Continuing to reduce cigarette infrastructure ahead of volume

declines

External Environment

Economy has remained in recession

Tobacco excise taxes have significantly increased

FDA was granted regulatory authority over tobacco products

Economic Conditions

Source: U.S. Department of Labor Bureau of Labor Statistics http://stats.bls.gov/news.release/empsit.nr0.htm; Blue Chip Economic Indicators, 

The Conference Board (http://www.conference-board.org/economics/ConsumerConfidence.cfm)            

Unemployment Rate

Consumer Confidence

9.7

7.3

3

10

Jan-93

Aug-09

54

77

20

200

Jan-93

Aug-09

Excise Tax Environment

Federal

excise

tax

on

cigarettes

increased

62¢

per

pack

to

$1.01 per pack

Cigarette State Excise Taxes Enacted in 2009

Source: ALCS Government Affairs

NJ

HI

WA

ID

OK

LA

AL

IL

IN

OH

ME

VT

NY

CA

OR

MT

IA

NM

MI

UT

NE

CO

KY

TN

GA

MA

AZ

NH

CT

DE

FL

TX

MS

MN

DC

AR

ND

KS

SC

MO

NC

PA

AK

MD

RI

VA

WV

WI

WY

NV

SD

Increased SET

PR

Weighted State Excise Tax -

Cigarettes

Source: ALCS Estimates (SET and User Fees Per Pack –Year End & Quarter-end)

* through September 1, 2009

$0.78

$0.87

$0.88

$1.01

$1.12

$1.13

$1.15

$1.24

$0.00

$1.50

2004

2005

2006

2007

2008

1Q 09

2Q 09

3Q 09 TD*

C-Store Pack Price

+25%

Cigarette Industry Dynamics

Source: IRI/Capstone Integrated Retail Panel

* Adjusted for trade inventory changes

Estimated Volume*

Change

Q2 08

Q2 09

~ (8%)

Q2 08

Q2 09

Long-term Tobacco Category Growth Rates

Source:

ALCS

Estimates:

Note:

Smokeless

is

defined

as

moist

smokeless

and

spit-less

tobacco

products

~7%

~3%

0%

10%

Machine-made Large Cigars

Smokeless

Profit Pool

($ in Billions)

Tobacco Manufacturers’

Profit Pool

Source: ALCS Estimates

+7.5%

48%

55%

0%

100%

1H 2008

1H 2009

Altria’s Share of Profit Pool

+7.0pp

$5.2

$5.6

$5.0

$6.0

1H 2008

1H 2009

FDA Legislation of Tobacco Products

President Obama signed legislation granting FDA authority to

regulate tobacco products

Regulation should benefit adult tobacco consumers in the long-

term

Promote more predictability in tobacco industry

FDA Legislation of Tobacco Products

Do not agree with every element of new law

Supported enactment

Intend to work constructively with agency and others in the

industry

FDA Regulation Implementation

Implementation of law will take place over time

Several areas require the FDA to take action through rule

making

FDA Regulation Timeline

2009

September

Initial quarterly

User Fee

2010

March

FDA issues

regulations on

sale,

promotion &

advertising

2011

June

FDA issues

color graphic

warning

requirements

2010

June

Remove

descriptors

from cigarette

packs

Source: FDA legislation (HR 1256)

2010

August

Report on

Menthol

Altria’s Approach to FDA Regulation

History of successfully adapting to change

Preparing for federal regulation for many years

Created Regulatory Affairs department

Cigarettes Segment’s First-half 2009 Performance

+8.8%

Source: Altria company reports, IRI/Capstone Integrated Retail Panel

Adjusted OCI*

($ in Billions)

* For reconciliations of non-GAAP to GAAP numbers visit www.altria.com

41.9%

41.9%

40%

43%

1H 2008

1H 2009

+0.0pp

Marlboro

Retail Share

$2.7

$2.4

$2.3

$2.9

1H 2008

1H 2009

’s

Smokeless Segment’s First-half 2009 Performance

Adjusted Operating Companies Income* of $339 million

Integration proceeding smoothly

Enhanced

value

equations

on

Copenhagen

&

Skoal

Source: Altria company reports

* For reconciliations of non-GAAP to GAAP numbers visit www.altria.com

USSTC’s Premium Retail Share

Source:

InfoScan

Smokeless

Tobacco

Database

(4wm)

Q2 2009 Premium

MST Retail Share

48.5%

48.5%

43%

52%

March 28, 2009

June 27, 2009

Cigars Segment’s First-half 2009 Performance

Adjusted OCI*

($ in Millions)

+3.2%

Black & Mild

Retail Share

29.2%

27.3%

25%

31%

1H 2008

1H 2009

+1.9pp

Source: Altria company reports

* For reconciliations of non-GAAP to GAAP numbers visit www.altria.com

$97

$94

$85

$105

1H 2008

1H 2009

’s

Wine Segment’s First-half 2009 Performance

Adjusted OCI* of $24 million

Continues to show underlying strength

Negatively impacted by trade inventory depletions and

weakness in on-premise sales

Source: Altria company reports

* For reconciliations of non-GAAP to GAAP numbers visit www.altria.com

Financial Services Segment’s Performance

Source: Altria company reports

OCI

($ in Millions)

$104

$203

$0

$250

1H 2008

1H 2009

Altria’s Cost Management Program

($ in Millions)

Source: Altria company reports

$805

$695

$1,500

$0

$1,500

2007-

1H 2009 Savings

Add. Cost Savings

Expected by 2011

2007 -

2011

Altria’s Headcount

Source: ALCS; Note: Includes headcount for Altria and all its subsidiary companies

~10,200

~10,400

0

13,000

Dec-08

Aug-09

7.5%

8.7%

10.3%

6.3%

9.6%

2005

2006

2007

2008

2009

Historical Increase

Altria’s Dividend

$1.28

$1.36

$1.00

$1.50

Aug-08

Aug-09

2009 Increase

+6.3%

Source: Altria company reports and press releases  (Note: Annualized Dividend Rate)

Altria’s First-half 2009 Performance

+8.5%

Source:

Altria

company

filings;

Total

Shareholder

Return

–

Bloomberg

ending

8.31.09

Adjusted Earnings

Per Share*

* For reconciliations of non-GAAP to GAAP numbers visit www.altria.com

26%

15%

10%

0%

30%

Altria

S&P 500

S&P Food,

Beverage &

Tobacco

Total Shareholder Return

$0.82

$0.89

$0.60

$1.10

1H 2008

1H 2009

Altria Reaffirms 2009 Guidance

Due to FET-related pricing strategies, the third and fourth

quarters of 2009 are planned to have lower adjusted EPS

growth when compared to the first and second quarters of

2009

Altria reaffirms that its 2009 adjusted diluted earnings per

share* from continuing operations is expected to increase to a

range of $1.72 to $1.77, representing a 4% to 7% growth rate

from an adjusted base of $1.65 per share in 2008

Source: Altria company filings, Note: Federal Excise Tax (FET)

* For reconciliations of non-GAAP to GAAP numbers visit www.altria.com

Altria’s Growth Objectives

Maximize income while maintaining share momentum on

Marlboro

in cigarette category

Return

Copenhagen

and

Skoal

to

volume

growth

in-line

or

slightly ahead of category growth

Profitably assume share leadership in the machine-made large

cigar

category

driven

by

Black

&

Mild

Continue to grow Ste. Michelle Wine Estates’

income and

improve its return on assets

Leadership Brands’

Characteristics

Sizeable share of category

Strong adult demographics

High brand loyalty

Growth opportunities for share and income with innovative

products

Cigarettes Segments’

First-half 2009 Performance

Source: Altria company filings, IRI/Capstone Integrated Retail Panel

Retail Share

50.2%

Cigarette Category Segments

Source:

IRI/Capstone

Integrated

Retail

Panel

-

1H

2009

Non-Menthol

Segment

71%

Menthol

Segment

29%

Share of Non-Menthol Segments -

Cigarettes

Source:

IRI/Capstone

Integrated

Retail

Panel

-

1H

2009

(Cigarettes)

59%

57%

62%

58%

0%

100%

Total Non-Menthol

FF Non-Menthol

Lights Non-Menthol

UL Non-Menthol

PM USA

Balance of Industry

Source: Maxwell Reports; MSA Shipments; IRI/Capstone (Cigarettes)

Menthol

Segment’s

Share

Performance

-

Cigarettes

28.8%

29.0%

10%

40%

1982

1985

1988

1991

1994

1997

2000

2003

2006

1H 09

Share of Menthol Segments -

Cigarettes

Source: IRI/Capstone -

1H 2009 (Cigarettes)

28%

20%

41%

0%

100%

Total Menthol

FF Menthol

Lights/UL Menthol

PM USA

Balance of Industry

Menthol

Retail

Share

Performance

-

Cigarettes

24.5%

28.0%

2002

1H 2009

PM USA’s Share of

Menthol

+3.5pp

2.8%

5.6%

2002

1H 2009

Marlboro

Menthol’s

Retail Share

+2.8pp

Source: IRI/Capstone - 1H 2009 (Cigarettes)

Source:

InfoScan

Smokeless

Tobacco

Database

–

1H

2009;

Note:

Smokeless

is

defined

as

moist

smokeless

and

spit-less

tobacco

products,

includes

smokeless

products

manufactured

by

USSTC

and

PM

USA

Smokeless Segments’

First-half 2009 Performance

Retail Share

55.5%

Mint

11%

Other

6%

39%

Natural

33%

Straight

11%

Smokeless Tobacco Category Flavor Segments

Source:

InfoScan

Smokeless

Tobacco

Database

–

1H

2009;

Note:

Smokeless

is

defined

as

moist

smokeless

and

spit-less

tobacco

products

Wintergreen

Share

of

Flavor

Segments

–

Smokeless

Tobacco

Source:

InfoScan

Smokeless

Tobacco

Database

–

1H

2009;

Note:

Smokeless

is

defined

as

moist

smokeless

and

spit-less

tobacco

products,

includes

smokeless

products

manufactured

by

USSTC

and

PM

USA

35%

79%

44%

51%

82%

0%

100%

Wintergreen

Natural

Straight

Mint

Other

USSTC & PM USA

Balance of Industry

Smokeless

Tobacco

Category

-

Form

Segments

Source:

InfoScan

Smokeless

Tobacco

Database

–

1H

2009;

Note:

Smokeless

is

defined

as

moist

smokeless

and

spit-less

tobacco

products

Pouches

10%

Fine Cut

28%

Long Cut

62%

Share

of

Form

Segments

–

Smokeless

Tobacco

Source:

InfoScan

Smokeless

Tobacco

Database

–

1H

2009;

Note:

Smokeless

is

defined

as

moist

smokeless

and

spit-less

tobacco

products,

includes

smokeless

products

manufactured

by

USSTC

and

PM

USA

46%

76%

59%

0%

100%

Long Cut

Fine Cut

Pouches

USSTC & PM USA

Balance of Industry

Smokeless Tobacco Pouches

USSTC and PM USA are planning initiatives

In market late 2009 and 2010

Source:

InfoScan

Cigar

Database

–

1H

2009

Machine-made

Large

Cigars

-

Size

Segments

Tipped

Cigarillo

35%

Untipped

Cigarillo

43%

Non-

Cigarillo

22%

Share of Machine-made Large Cigars Segments

Source:

InfoScan

Cigar

Database

–

1H

2009

84%

0%

100%

Tipped Cigarillo

Untipped

Cigarillo

Non-Cigarillo

Middleton

Balance of Industry

Cigar Growth Opportunity

Untipped cigarillos represent the largest incremental opportunity

Untipped cigarillo growing segment

Middleton currently does not participate in this growing segment

Source: InfoScan Cigar Database

New Tobacco Products

Build businesses in growing segments

Many new products in market by December 2009

Full impact on volume, share and income expected in 2010

and beyond

Altria’s Tobacco Operating Companies

Tobacco Categories are Important to Retailers

Cigarettes represented 33% of in-store revenues and 17% of

profits

Other tobacco products are one of the fastest-growing

segments

Source:

Convenience

Store

News,

Convenience

stores

in

2008

Trade Relationships Principles

Having the best brands in the best positions

Allocating shelf space to brand share to assure in-stock

inventory

Communicating new products and promotions to adult tobacco

consumers

Encouraging underage sales prevention through non-self

service merchandising

Source:

Altria

Sales

&

Distribution

Benefits of Integrated Tobacco Categories

Higher profitability per square foot

Improving visibility for smokeless tobacco and machine-made

large cigars to adult consumers

Reducing youth access to tobacco products

Source: Altria Sales & Distribution

Cigarette Launch Introductions

Effective introduction of new and innovative products

Improved speed to market for new product launches by 30%

since 2006

Assisting Retailers

Tobacco products important to many retailers’

financial

success

Altria Sales & Distribution assists retailers by providing them

with tools for insights and information

Litigation Environment

Substantial success in managing the litigation environment;

however significant challenges remain

Detailed discussion in Altria’s recent Form 10-Q

Approach to Litigation

Approach to litigation remains the same

Continue vigorously defending claims

Altria’s 2009 Performance

Adjusted EPS* up 8.5% in the first-half of 2009

Increased dividend by 6.3%

Altria’s total shareholder return is 26%

* For reconciliations of non-GAAP to GAAP numbers visit www.altria.com, adjusted diluted EPS from continuing operations

Source: Altria company reports; Bloomberg (8/31/09)

Long-term Growth

Target of 8% -

10% adjusted EPS per year

Continue to believe it is an achievable objective

Operating environment impacts ability to reach objective in any

given year

Strategies to Achieve Long-term Growth

Grow income by investing in four strong brands, Marlboro,

Copenhagen, Skoal

and Black & Mild, while continuing to

optimize cost structures

Strategies to Achieve Long-term Growth

Grow income by investing in four strong brands, Marlboro,

Copenhagen, Skoal

and Black & Mild, while continuing to

optimize cost structures

Return cash to shareholders in the form of dividends

Altria’s Dividends

Plans to maintain its targeted 75% payout ratio and increase

dividends in-line with future adjusted EPS growth

Increased dividend 42 times in 40 years

Commitment to return a large amount of cash to shareholders

through dividends

Strategies to Achieve Long-term Growth

Grow income by investing in four strong brands, Marlboro,

Copenhagen, Skoal

and Black & Mild, while continuing to

optimize cost structures

Return cash to shareholders in the form of dividends

Preserve strong balance sheet

SABMiller Investment

Helping solidify Altria’s investment grade credit rating

Growing earnings per share

Strengthening Altria’s financial profile

SABMiller Investment

(Pre-tax $ -

Billions)

Source:

Bloomberg

as

of

August

31,

2009

$10.0

$3.4

$0

$14

Jul-02

Aug-09

SABMiller Investment Benefits to Altria

Contributed $3.1 billion in equity earnings since 2002

Paid $1.3 billion in dividends since 2002

Currently plan to maintain economic interest in SABMiller

Strategies to Achieve Long-term Growth

Grow income by investing in four strong brands, Marlboro,

Copenhagen, Skoal

and Black & Mild, while continuing to

optimize cost structures

Return cash to shareholders in the form of dividends

Preserve strong balance sheet

Focus on reducing the cost of debt

Non-GAAP Financial Measures

Altria reports its consolidated financial results in accordance with generally accepted

accounting principles (GAAP).  Today’s remarks may contain various operating results on

both a reported basis and on an adjusted basis, which excludes items that affect the

comparability of report results.

Altria’s management reviews OCI, which is defined as operating income before corporate

expenses and amortization of intangibles, to evaluate segment performance and allocate

resources.  Altria’s management also reviews OCI, operating margins and earnings per

share (EPS) on an adjusted basis, which excludes certain income and expense items that

management believes are not part of underlying operations because such items can

obscure underlying business trends.  Management believes it is appropriate to disclose

these measures to help investors analyze underlying business performance and trends. 

Such adjusted measures are regularly provided to management for use in the evaluation

of segment performance and allocation of resources. All references in the remarks are to

continuing operations, unless otherwise noted.

Reconciliations of any non-GAAP financial measures to the most directly comparable

GAAP measures

can be found posted to our website at www.altria.com

Cigarettes Segment’s

Adjusted Operating Companies Income (OCI)

for Six Months Ended June 30, 2008

(dollars in millions)

Reported OCI                           

$2,377

Exit costs

29

Implementation costs

32

Adjusted OCI

$2,438

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

Cigarettes Segment’s

Adjusted Operating Companies Income (OCI)

for Six Months Ended June 30, 2009

(dollars in millions)

Reported OCI                                 

$2,569

Exit costs

34

Implementation costs

50

Adjusted OCI

$2,653

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

Cigarettes Segment’s

Adjusted Operating Companies Income (OCI)

for Six Months Ended June 30

(dollars in millions)

2008 adjusted OCI

$2,438

2009 adjusted OCI

$2,653

% change 2009 adjusted OCI versus prior-year period

8.8%

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

Smokeless Products Segment’s

Adjusted Operating Companies Income (OCI)

for Six Months Ended June 30, 2009

(dollars in millions)

Reported OCI                     

$175   

Exit costs

123

Integration costs

28

UST acquisition-related costs*

13

Adjusted OCI

$339

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

* Excludes exit and integration costs

Cigars Segment’s

Adjusted Operating Companies Income (OCI)

for Six Months Ended June 30, 2008

(dollars in millions)

Reported OCI

$91

Integration costs

3

Adjusted OCI

$94

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

Cigars Segment’s

Adjusted Operating Companies Income (OCI)

for Six Months Ended June 30, 2009

(dollars in millions)

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

Reported OCI

$90

Integration costs

7

Adjusted OCI

$97

Cigars Segment’s

Adjusted Operating Companies Income (OCI)

for Six Months Ended June 30

(dollars in millions)

2008 adjusted OCI

$94

2009 adjusted OCI

$97

% change 2009 adjusted OCI versus prior-year period

3.2%

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

Wine Segment’s

Adjusted Operating Companies Income (OCI)

for Six Months Ended June 30, 2009

(dollars in millions)

Reported OCI                             

$10

Exit costs

2

Integration costs

2

UST acquisition-related costs*                                                  

10

Adjusted OCI

$24

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

* Excludes exit and integration costs

Adjusted Diluted Earnings per Share (EPS) from Continuing

Operations Attributable to Altria for Six Months Ended   

June 30, 2008

Reported diluted EPS from continuing operations

$0.73

Exit, integration and implementation costs

0.09

Gain on sale of corporate headquarters building                

(0.12)

Loss on early extinguishment of debt

0.12

Adjusted diluted EPS from continuing operations

$0.82

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

Adjusted Diluted Earnings per Share (EPS) from Continuing

Operations Attributable to Altria for Six Months Ended  

June 30, 2009

Reported diluted EPS from continuing operations

$0.77

Exit, integration and implementation costs

0.08

UST acquisition-related costs*

0.06

SABMiller gains on issuances of common stock

(0.06)

SABMiller intangible asset impairments

0.04

Adjusted diluted EPS from continuing operations

$0.89

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

* Excludes exit and integration costs

2008 adjusted diluted EPS

from continuing operations

$0.82

2009 adjusted diluted EPS

from continuing operations

$0.89

% change in 2009 adjusted diluted EPS

from continuing operations versus prior-year period

8.5%

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

Adjusted Diluted Earnings per Share (EPS) from Continuing

Operations Attributable to Altria for Six Months           

Ended June 30

Adjusted Diluted Earnings per Share (EPS) from Continuing

Operations Attributable to Altria for Year Ended    

December 31, 2008

Reported diluted EPS from continuing operations   

$1.48

Tax Items

(0.03)

Gain on sale of corporate headquarters building

(0.12)

Loss on early extinguishment of debt

0.12

SABMiller intangible asset impairments

0.03

UST acquisition-related costs*

0.02

Exit, integration and implementation costs                     

0.15

Adjusted diluted EPS from continuing operations

$1.65

* Excludes exit and integration costs

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

Projected Full-Year Adjusted Diluted Earnings per Share

(EPS) from Continuing Operations Attributable to Altria for

Year Ending December 31, 2009

Projected reported diluted EPS from continuing

operations

$1.51 to $1.56

Exit, integration and implementation costs

0.17

UST acquisition-related costs*

0.06

SABMiller gains on issuances of common stock

(0.06)

SABMiller intangible asset impairments                         

0.04

Projected adjusted diluted EPS from continuing

operations

$1.72 to $1.77

* Excludes exit and integration costs

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

Projected Full-Year Adjusted Diluted Earnings per Share

(EPS) from Continuing Operations Attributable to Altria for

Year Ending December 31

2008 adjusted diluted EPS from continuing

operations

$1.65

2009 projected adjusted diluted EPS from

continuing operations

$1.72 to $1.77

% change in 2009 projected full-year adjusted

diluted EPS from continuing operations versus

the prior-year period

4% -

7%

Source: ALCS Finance, reconciliation between GAAP and non-GAAP financial measures

EX-99.3

EXHIBIT 99.3

ALTRIA PRESENTS AT THE BARCLAYS CAPITAL BACK-TO-SCHOOL

CONSUMER CONFERENCE

RICHMOND, Va. September 9, 2009 – Altria Group, Inc. (Altria) (NYSE: MO) is participating in the Barclays Capital Back-To-School Consumer Conference in Boston, Massachusetts today. The presentation is being webcast live at www.altria.com in a listen-only mode, beginning at approximately 10:30 a.m. Eastern Time.

During the presentation, Michael E. Szymanczyk, Chairman and Chief Executive Officer of Altria Group, Inc. will discuss Altria’s performance against its 2009 plan to deliver strong returns to Altria shareholders, as well as opportunities for future growth.

Altria reaffirms its 2009 guidance for adjusted diluted earnings per share from continuing operations in the range of $1.72 to $1.77, representing a growth rate of 4% to 7% from an adjusted base of $1.65 per share in 2008. On a reported basis, Altria forecasts 2009 full year reported diluted earnings per share from continuing operations in the range of $1.51 to $1.56. The factors described in the Forward-Looking and Cautionary Statements section of this press release represent continuing risks to these projections. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are detailed later in this press release.

An archived copy of the webcast and prepared remarks will be available until 5:00 p.m. Eastern Time on Friday, October 9, 2009, at www.altria.com.

Altria’s Profile

Altria directly or indirectly owns 100% of each of Philip Morris USA Inc. (PM USA), U.S. Smokeless Tobacco Co. (USSTC), John Middleton Co. (Middleton), Ste. Michelle Wine Estates Ltd. (SMWE), and Philip Morris Capital Corporation. Altria holds a continuing economic and voting interest in SABMiller plc.

The brand portfolio of Altria’s tobacco operating companies includes such well-known names as Marlboro, Copenhagen, Skoal and Black & Mild. SMWE produces and markets

6601 West Broad Street, Richmond, VA 23230

premium wines sold under 20 different labels including Chateau Ste. Michelle and Columbia Crest, as well as exclusively distributes and markets Antinori products and Champagne Nicolas Feuillatte in the United States. Trademarks and service marks related to Altria referenced in this release are the property of, or licensed by, Altria or its subsidiaries. More information about Altria is available at www.altria.com.

Non-GAAP Financial Measures

Altria reports its consolidated financial results in accordance with generally accepted accounting principles (GAAP). Today’s press release contains earnings per share guidance on both a reported basis and on an adjusted basis, which excludes special items that affect the comparability of reported results. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are detailed below.

Altria’s Full-Year EPS Forecast Excluding Special Items

	Full Year
	2009			2008			Change
Reported diluted EPS from continuing operations	$	1.51 to $1.56		$	1.48		2% to 5%
Exit, integration and implementation costs		0.17			0.15
Gain on sale of corporate headquarters building		—			(0.12	)
Loss on early extinguishment of debt		—			0.12
Tax items		—			(0.03	)
UST acquisition-related costs*		0.06			0.02
SABMiller gains on issuances of common stock		(0.06	)		—
SABMiller intangible asset impairments		0.04			0.03
Adjusted diluted EPS from continuing operations	$	1.72 to $1.77		$	1.65		4% to 7%

* Excludes exit and integration costs for UST LLC (UST)

Forward-Looking and Cautionary Statements

This press release and today’s remarks contain projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.

Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release and today’s remarks are described in Altria’s publicly filed reports, including its Annual Report on Form 10-K for the year ended December 31, 2008 and its Quarterly Report on Form 10-Q for the period ended June 30, 2009.

2

These factors include the following: Altria’s tobacco businesses (PM USA, USSTC and Middleton) are subject to intense price competition; changes in consumer preferences and demand for their products; fluctuations in raw material availability, quality and cost; reliance on key facilities and suppliers; fluctuations in levels of customer inventories; the effects of global, national and local economic and market conditions; changes to income tax laws; legislation, including actual and potential federal and state excise tax increases; increasing marketing and regulatory restrictions; the effects of price increases related to excise tax increases and concluded tobacco litigation settlements on consumption rates and consumer preferences within price segments; health concerns relating to the use of tobacco products and exposure to environmental tobacco smoke; governmental regulation, including the Family Smoking Prevention and Tobacco Control Act that granted the Food and Drug Administration broad authority to regulate tobacco products; privately imposed smoking restrictions; and governmental and grand jury investigations.

Their results are dependent upon their continued ability to promote brand equity successfully; to anticipate and respond to new consumer trends; to develop new products and markets and to broaden brand portfolios in order to compete effectively; and to improve productivity.

There can be no assurance that Altria will achieve the synergies expected of the UST acquisition.

Altria’s subsidiaries continue to be subject to litigation, including risks associated with adverse jury and judicial determinations, courts reaching conclusions at variance with the companies’ understanding of applicable law and bonding requirements in the limited number of jurisdictions that do not limit the dollar amount of appeal bonds. Altria cautions that the foregoing list of important factors is not complete and does not undertake to update any forward-looking statements that it may make other than in the normal course of its public disclosure obligations. All subsequent written and oral forward-looking statements attributable to Altria or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements referenced above.

3

SOURCE: Altria Group, Inc.

CONTACT:

Clifford B. Fleet

Vice President, Investor Relations

804-484-8222

Daniel R. Murphy

Director, Investor Relations

804-484-8222

4