Loews Corporation Reports Net Income for the Second Quarter of 2006.

NEW YORK -- Loews Corporation (NYSE:LTR;CG) today reported consolidated net income (including both the Loews Group and Carolina Group) for the 2006 second quarter of $568.7 million, compared to $435.6 million in the 2005 second quarter. Consolidated net income for the six months ended June 30, 2006 was $1,109.7 million, compared to $781.9 million in the prior year.

Net income and earnings per share information attributable to Loews common stock and Carolina Group stock is summarized in the table below:

====================================================================== June 30, ---------------------------------------- Three Months Six Months ---------------------------------------- (In millions, except per share data) 2006 2005 2006 2005 ---------------------------------------- (Restated) (Restated) Net income attributable to Loews common stock: Income before net investment gains (losses) $532.3 $358.6 $1,014.3 $666.6 Net investment gains (losses) (55.0) 19.5 (58.6) 4.7 ---------------------------------------- Income from continuing operations 477.3 378.1 955.7 671.3 Discontinued operations, net (2.4) 1.8 (7.4) 8.4 ---------------------------------------- Net income attributable to Loews common stock 474.9 3...

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