Audit Committee Charter--Loews 1.20.04--final

LOEWS CORPORATION AUDIT COMMITTEE CHARTER Purpose The Audit Committee’s primary function is to assist the Board of Directors of Loews Corporation (the “Company”) with its responsibility of overseeing the integrity of the Company’s financial statements, the Company’s compliance with legal and regulatory requirements, the qualifications and independence of the Company’s independent accountants and the performance of the Company’s internal audit staff and independent accountants. The Committee shall prepare the Audit Committee Report for the Company’s annual proxy statement. The Company is a holding company. Currently, two subsidiaries of the Company, CNA Financial Corporation and Diamond Offshore Drilling, Inc., have common stock registered under the Securities Exchange Act of 1934 and listed for trading on the New York Stock Exchange. Each of CNA and Diamond Offshore maintains an audit committee comprised of independent directors in compliance with stock exchange rules and applicable laws and regulations. The Committee will review periodically the reports of the audit committees of CNA and Diamond Offshore and may meet with such audit committees if and whenever it considers meetings to be necessary or advisable. Committee Membership The Committee shall be comprised of three or more ...