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ARTISTIC GREETINGS ANNOUNCES APPOINTMENT OF INDEPENDENT COMMITTEE

 ARTISTIC GREETINGS ANNOUNCES APPOINTMENT OF INDEPENDENT COMMITTEE
 ELMIRA, N.Y., Jan. 28 /PRNewswire/ -- Artistic Greetings Incorporated (NASDAQ: ARTG) announced today that its board has appointed an independent committee to evaluate the company's alternatives with respect to its current relationship with American Greetings (NASDAQ: AGREA).
 The committee is composed of outside board members Norman S. Edelcup, Lyndon E. Goodridge and Manford D. Rosenbloom, chairman.
 The committee will investigate alternatives to the current Standstill Agreement set to expire Nov. 1, 1992.
 American Greetings currently owns approximately 40 percent of Artistic Greetings, purchased from the company in May of 1990.
 American Greetings has not yet formally stated its desires regarding its investment in Artistic Greetings.
 -0- 1/28/92
 /CONTACT: Richard C. Bast, vice president-finance, or Leora Amir-Denton, corporate counsel, both of Artistic Greetings, 607-733-5541/
 (ARTG) CO: Artistic Greetings Incorporated ST: New York IN: REA SU:


KK -- CL007 -- 4108 01/28/92 09:49 EST
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Publication:PR Newswire
Date:Jan 28, 1992
Words:152
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