Loews Philadelphia Hotel

Loews Corporation is a holding company. The lines of business the Company's subsidiaries are engaged in include commercial property and casualty insurance (CNA Financial Corporation (CNA), an 89%-owned subsidiary); production and sale of cigarettes (Lorillard, Inc. (Lorillard), a wholly owned subsidiary); operation of offshore oil and gas drilling rigs (Diamond Offshore Drilling, Inc., a 51%-owned subsidiary); exploration, production and marketing of natural gas and natural gas liquids (HighMount Exploration & Production LLC, a wholly owned subsidiary); operation of interstate natural gas transmission pipeline systems (Boardwalk Pipeline Partners, LP, a 70%-owned subsidiary), and operation of hotels (Loews Hotels Holding Corporation, a wholly owned subsidiary). In January of 2008, the Company sold Bulova Corporation (Bulova) to Citizen Watch Co., Ltd. (Source: 10-K)