Standard Commercial Corporation Announces Assessment of Fine Relating to European Commission Investigation in Spain

Standard Commercial Corporation Announces Assessment of Fine
Relating to European Commission Investigation in Spain 


WILSON, N.C., Oct. 22  /PRNewswire-FirstCall/ -- Standard Commercial
Corporation (NYSE:STW) (the "Company") today announced that, as a result of the
previously announced administrative investigation into tobacco buying and
selling practices within the Spanish market, the Directorate General for
Competition ("DG Comp") of the European Commission ("EC") has imposed on it,
its Spanish subsidiary, World Wide Tobacco Espana and two other of its
subsidiaries, a fine of EUR 1,822,500.  A number of other tobacco processors,
growers and agricultural associations were assessed fines in various amounts
which, including the amount assessed against Standard Commercial, totaled EUR
20 million.  The Company is awaiting the published decision of the EC in order
to assess an appeal of the fine.  Standard Commercial will accrue a charge for
the full amount of the fine for the quarter that ended on September 30, 2004.

STANDARD COMMERCIAL is an independent leaf tobacco dealer and operates in over
thirty countries.

Readers of this news release should note that comments contained herein that
are not purely statements of historical fact may be deemed to be forward-
looking. Any forward-looking statement is based upon management's current
knowledge and assumptions about future events. The Company's actual results
could vary materially from those expected due to many factors, many of which
the Company cannot control. These include uncertainties relating to
governmental investigation and regulation, changes in demand for and supply of
leaf tobacco, changes in general economic conditions, and political and
terrorist risks. Additional information on factors that may affect management's
expectations or Standard Commercial's financial results can be found in the
Company's filings with the Securities and Exchange Commission. 

DATASOURCE: Standard Commercial Corporation



CONTACT:  Robert Sheets of Standard Commercial Corporation,

[phone]



Web site:  http://www.sccgroup.com/ 

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