Allen B. King, Chairman and Chief Executive Officer, joined Universal Leaf Tobacco Company in April 1969 and after the completion of his training was assigned to the Treasury Department. Mr. King became Vice President of Universal Corporation on its founding in 1987, was elected Executive Vice President in October 1989, President in October 1991, President and Chief Operating Officer in December 1992, and President and Chief Executive Officer in January 2003. On October 28, 2003, he was also elected Chairman of the Board of Directors of Universal Corporation.

Mr. King is a member of the Board of Directors of Universal Corporation, Universal Leaf Tobacco Company, Inc., and Circuit City Stores, Inc. He is also a member of the Virginia Commonwealth University School of Business, Business Council, and the Board of Trustees for the Virginia Foundation for Independent Colleges. He is a member of the Management Roundtable in Richmond, Virginia.