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Rule 424(b)(3)
File Nos. 33-13210
33-40110
Philip Morris Incorporated Deferred Profit-Sharing Plan for Craft Employees
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CHANGE IN FREQUENCY OF DIRECTION OF INVESTMENT
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Effective June 1, 1994, you will be able to change your investment choices for
your current Account balance(s) and/or future contributions as of the last day
of each month. You were previously limited to three investment election changes
in a calendar year. To make an investment change, you should request Form
#2668S from your Personnel or Employee Relations Department.
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This document is a summary of material modification to the summary plan
description of the Philip Morris Incorporated Deferred Profit-Sharing Plan for
Craft Employees, and a supplement to a prospectus filed with the Securities and
Exchange Commission. The date of this summary of material modification and
supplement is May 12, 1994.
