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AMERICAN GREETINGS SETS DEADLINE ON OFFER TO GIBSON GREETINGS

CLEVELAND, March 7 /PRNewswire/ -- American Greetings (Nasdaq: AGREA) announced today that its recent offer to buy all of the outstanding stock of Gibson Greetings would remain open only until 5 p.m. EST, Tuesday, March 19, 1996.

American Greetings had recently offered Gibson's Board of Directors $18 per share for all of the outstanding Gibson stock, payable in cash or shares of American Greetings stock, as the Gibson Board may choose.

Morry Weiss, Chairman and Chief Executive Officer of American Greetings, expressed his disappointment with Gibson's refusal even to meet to explore the opportunity to combine the two companies. "We are willing to lay all issues on the table for consideration, including the price per share and break up fees that American Greetings might pay Gibson if a transaction could not be consummated. But, the Gibson Board must first agree to meet before a dialogue can begin," said Weiss.

"We are serious in our resolve to acquire Gibson and want to make our offer attractive to the Gibson Board and its shareholders," said Weiss. "However, we do not believe it is in the best interest of either company to have our overtures extend over a lengthy period of time."

American Greetings announced that if the two companies had not made progress in negotiating such a combination by the March 19 deadline, it would cease its attempts to acquire Gibson for the foreseeable future unless circumstances were to change substantially.

American Greetings (Nasdaq: AGREA) is the world's largest publicly owned creator, manufacturer and distributor of greeting cards and social expression products with operations, subsidiaries and licensees in more than 75 countries. Fiscal 1995 sales were $1.87 billion.
 -0- 3/7/96


/CONTACT: John A. Hernandis, 216-252-4941, or John D. Barker, 216-252-4864, or Dale A. Cable, 216-252-7300, all of American Greetings/

/American Greetings' press releases available through Company News On-Call by fax, 800-758-5804, ext. 044150, or at http://www.prnewswire.com/

/A logo for American Greetings and a color photo of Chairman and CEO Morry Weiss available via Wieck Photo Database, 214-392-0888/

(AGREA)

CO: American Greetings Corporation; Gibson Greetings ST: Ohio IN: HOU SU:

TC-CS -- CLTH034 -- 1356 03/07/96 17:40 EST
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Date:Mar 7, 1996
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