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GIBSON GREETINGS, INC. ANNOUNCES LICENSEE TERMINATION

 CINCINNATI, March 10 /PRNewswire/ -- Gibson Greetings, Inc. (NASDAQ: GIBG) today announced that it was terminating its licensing agreement with John Sands Greeting Pty. Ltd., in Melbourne, and John Sands N.Z. Ltd. in Auckland, for greeting cards and related products. One of Gibson's competitors recently purchased a substantial minority interest in those companies. Gibson believes that both the Australian and New Zealand markets remain highly attractive. Gibson is exploring the development of new relationships which will assure that the company's long established and well accepted designs will continue to be available in those markets as well as to the Pacific Rim export market.
 Gibson Greetings, Inc., established in 1850, is the oldest and one of the largest companies in the greeting card industry. It continues to be the leader in providing well known licensed properties to retailers. International operations include subsidiaries in the United Kingdom and Mexico, as well as licensees in Europe, Central and South America and other locations worldwide.
 -0- 3/10/93
 /CONTACT: W.A. Cavanaugh, vice president - finance, Gibson Greetings, Inc., 513-841-6675/
 (GIBG)


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

BM -- CL014 -- 4689 03/10/93 12:16 EST
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Publication:PR Newswire
Date:Mar 10, 1993
Words:196
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