News Release

MIAMI, FL, May 5, 2011 -- Vector Group Ltd. (NYSE: VGR) today announced financial results for the three months ended March 31, 2011.

First quarter 2011 revenues were $260.4 million, compared to $222.1 million for 2010. The Company recorded operating income of $31.5 million for 2011, compared to operating income of $31.0 million for 2010. Net income for 2011 was $19.4 million, or $0.25 per diluted common share, compared to net income of $11.9 million, or $0.14 per diluted common share, for 2010.

For the three months ended March 31, 2011, the Company’s tobacco business had revenues of $260.4 million, compared to $222.1 million for the three months ended March 31, 2010. Operating income was $36.4 million for the first quarter 2011, compared to $34.9 million for the first quarter of 2010.

Conference Call to Discuss First Quarter 2011 Results

As previously announced, the Company will host a conference call and webcast on Friday, May 6, 2011 at 11:00 A.M. (ET) to discuss first quarter results. Investors can access the call by dialing 800-859-8150 and entering 37413326 as the conference ID number. The call will also be available via live webcast at www.investorcalendar.com.

A replay of the call will also be available shortly after the call ends on May 6, 2011 through May 20, 2011. To access the replay, dial 877-656-8905 and enter 37413326 as the conference ID www.investorcalendar.com for 30 days.


Vector Group is a holding company that indirectly owns Liggett Group LLC and Vector Tobacco Inc. and directly owns New Valley LLC. Additional information concerning the company is available on the company’s website, www.VectorGroupLtd.com.

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Contact:
Paul Caminiti/Carrie Bloom/Jonathan Doorley
Sard Verbinnen & Co
212/687 - 8080