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        "Records of the Domestic Policy Council (Clinton Administration)",
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    "ocrText": "Yahoo! RN 10-Q\nhttp://sec.yahoo.com/edgar/latest/m.html\n$850 million (approximately 53% Food and 47% Tobacco), which will be funded primarily by cash flows\nfrom operating activities. The current planned level of capital expenditures for 1997 is higher than the\n1996 amount of $741 million primarily due to the increased capital investments for Reynolds International\n(notably in the former Soviet Union). Management also expects its capital expenditures program will\nsubsidiaries. continue at a level sufficient to support the strategic and operating needs of RJRN Holdings' operating\nThe foregoing discussion in \"Management's Discussion and Analysis of Financial Condition and Results\nof Operations\" contains forward-looking statements which reflect management's current views with\nrespect to future events and financial performance. These forward-looking statements are subject to\ncertain risks and uncertainties, including, but not limited to, the effect on financial performance and future\nevents of competitive pricing for products, success of new product innovations and acquisitions, local\neconomic conditions and the effects of currency fluctuations in countries in which RJRN Holdings and its\nsubsidiaries do business, the effects of domestic and foreign government regulation, ratings of RJRN\nHoldings' or its subsidiaries' securities and, in the case of the tobacco business, litigation. Due to such\nuncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking\nstatements, which speak only as of the date hereof.\nRecent Filings: Nov 96 (Quarterly Report)\nMore filings for RN available from EDGAR Online\nCopyright © 1997 Yahoo! Inc. All Rights Reserved.\nSee our Important Disclaimers and Legal Information.\nYAHOOL\nAll Rights Reserved.\n7 of 7\n06/25/97 15:51:54"
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