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EXHIBIT 99.1
CITIGATE SARD VERBINNEN NEWS
FOR IMMEDIATE RELEASE Contact: George Sard/Anna Cordasco/
Paul Caminiti
Citigate Sard Verbinnen.
212/687 - 8080
NEW VALLEY CORPORATION RECEIVES APPROVAL FOR LISTING
ON THE NASDAQ SMALLCAP MARKET
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MIAMI, FL, September 25, 2000 -- New Valley Corporation (OTC: NVAL)
today announced that it has received approval for listing of its Common Shares
and Warrants on the Nadsaq SmallCap Market under the current ticker symbols of
NVAL and NVALW. The Company expects that its Common Shares and Warrants will
begin trading on the Nasdaq SmallCap Market on September 27, 2000.
Bennett S. LeBow, New Valley's Chairman and Chief Executive Officer,
stated: "We are extremely pleased that New Valley is being listed on the Nasdaq
SmallCap Market. We are confident that the Company and its investors will
benefit from this listing, which we expect to enhance liquidity in the
securities."
New Valley is principally engaged in the investment banking and
brokerage business, through Ladenburg Thalmann & Co. Inc., the real estate
business in Russia, through BrookeMil Ltd. and Western Realty, and investment in
Internet-related businesses.
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