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EXTENDED STOCK OPTION PROGRAM, AMONG MOST COMPREHENSIVE IN INDUSTRY, ANNOUNCED BY WARNER-LAMBERT

EXTENDED STOCK OPTION PROGRAM, AMONG MOST COMPREHENSIVE IN INDUSTRY,
 ANNOUNCED BY WARNER-LAMBERT
 MORRIS PLAINS, N.J., Feb. 10 /PRNewswire/ -- Warner-Lambert (NYSE: WLA) today said it will provide stock options to most U.S. employees, as well as a significant number outside the U.S., making it among the most comprehensive such programs in industry.
 Companies use option programs to encourage increased personal commitment and responsibility in the success of the business. Only a handful of Fortune 500 firms have stock option programs that extend to a vast number of employees beyond the senior executive level. Rarer still are those programs that encompass employees both in and beyond the U.S. The new Warner-Lambert program, known as SuccesShare, extends stock options to employees beyond management level. "Warner-Lambert's Creed calls for us to prize and reward creativity, speed of action and openness to change," said Melvin R. Goodes, chairman and chief executive officer. "SuccesShare will reward participants with additional income if the value of Warner-Lambert stock goes up over time. Since the value of stock reflects our collective performance, SuccesShare gives those it embraces new and powerful incentives to do their best on behalf of the company."
 With the institution of SuccesShare, the vast majority of the company's U.S. employees and thousands of employees outside the U.S. are now eligible for options. The company said it intends to make SuccesShare grants to employees on a periodic basis. The first SuccesShare grant will occur next month. To receive grants, eligible employees must have a year of full-time, continuous service with the company as of Jan. 1, 1992, and meet performance expectations.
 A stock option is the right to buy a share of stock at a fixed price, regardless of how much the share value increases in the future. In the case of SuccesShare, all options may be exercised beginning three years from the date of the grant.
 Warner-Lambert is a worldwide company devoted to developing, manufacturing and marketing quality health care and consumer products. It employs approximately 34,000.
 -0- 2/10/92
 /CONTACT: Peter Wolf of Warner-Lambert, 201-540-6696/
 (WLA) CO: Warner-Lambert Company ST: New Jersey IN: MTC SU:


KD -- NY051 -- 8275 02/10/92 12:24 EST
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Publication:PR Newswire
Date:Feb 10, 1992
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