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Gibson Greetings to Relocate Corporate Headquarters to RiverCenter II in Covington, Kentucky

CINCINNATI, Aug. 13 /PRNewswire/ -- Gibson Greetings, Inc. (Nasdaq: GIBG) today said it will relocate its corporate headquarters to the RiverCenter II office tower in Covington, Kentucky by the beginning of 1999.

The Company has signed a 10-year lease to occupy 148,000 square feet in the 15-story tower, which sits just across the Ohio River from downtown Cincinnati, approximately 10 miles from Gibson's current corporate headquarters located in Amberley Village. Under the lease agreement, Gibson will occupy nine floors of office space and approximately 5,000 square feet of retail space in RiverCenter II. Gibson plans to open a retail concept store, which will be open to the public and will feature Gibson cards, gift wrap, candles, party ware and other products, in the building's lobby in 1999.

Gibson will be the largest single tenant in RiverCenter II and will be featured on a signature monument in front of the new office tower, which opened earlier this year.

"We're excited by the opportunity to relocate our corporate headquarters to the Northern Kentucky riverfront, an area which has enjoyed tremendous growth and economic development during the past decade," said Frank J. O'Connell, Gibson chairman, president and chief executive officer.

"Over the past several months, we considered a number of potential headquarters sites throughout Greater Cincinnati. We were particularly interested in finding a site that would provide a high-energy working environment that would stimulate our associates' creative thinking. This new facility will showcase Gibson's creativity and innovation for our customers, who look to us to create dynamic, entertaining environments in their stores. In addition, RiverCenter II offers a unique blend of high-quality office space, superb views of downtown Cincinnati, and proximity to major highways and Cincinnati/Northern Kentucky International Airport," he said.

The Company plans to relocate approximately 400 headquarters employees to the new office tower by January 1, 1999.

"We're pleased that Gibson Greetings chose to take advantage of the progressive, forward-thinking region of Northern Kentucky," said Kentucky Gov. Paul Patton. "Their decision tells the business world that Kentucky has a pro-business attitude and, more importantly, that Kentucky is a good, solid, profitable place to do business."

"We're delighted to welcome Gibson to the growing roster of blue-chip companies at RiverCenter," added Bill Butler, Corporex president and chief executive officer.

Mr. O'Connell credited the hard work and support of the state of Kentucky, the Tri-County Economic Development Corp., the City of Covington and Corporex officials for closing the deal. The Staubach Co. represented Gibson in its relocation search.

"Thanks to the commitment and support of each of these organizations, we look forward to becoming a good corporate neighbor and growing economic presence in Northern Kentucky," Mr. O'Connell said.

Gibson Greetings, Inc., an industry innovator in the greeting card business, is pursuing a growth strategy of marketing relationship-fostering products that provide strong entertainment value. This is being achieved by developing proprietary new products, negotiating major licensing agreements and deploying high-energy shopping environments in a wide spectrum of major retail stores. Gibson manufactures and distributes more than 24,000 individual relationship communication products (over 5,000 new products in the past year), including greeting cards, gift wrap, party goods, licensed products and Silly Slammers, America's favorite "toyz that make noize." E-mail greetings featuring Gibson content are available through Greet Street (www.greetst.com), in which Gibson holds a minority equity interest.

For more information on Gibson Greetings, please visit our web site at http://www.gibsongreetings.com or the Silly Slammers site at http://www.sillyslammers.com.

SOURCE Gibson Greetings, Inc.
 -0- 08/13/98


/CONTACT: Gary Rhodes, Director - Corporate Communications, of Gibson Greetings, 513-841-6986, or grhodes@gibsongreetings.com/

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

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

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

(GIBG)

CO: Gibson Greetings, Inc. ST: Ohio IN: REA HOU SU:

KB-JS -- CLTH010 -- 7352 08/13/98 14:00 EDT http://www.prnewswire.com
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Publication:PR Newswire
Date:Aug 13, 1998
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