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LIMITED, INC. NAMES AVED PRESIDENT OF LERNER NEW YORK

 LIMITED, INC. NAMES AVED PRESIDENT OF LERNER NEW YORK
 COLUMBUS, Ohio, Feb. 18 /PRNewswire/ -- Leslie H. Wexner, chairman


of The Limited, Inc. (NYSE/LSE/TSE: LTD), announced effective today the appointment of Barry Aved as president and chief executive officer of the 910-store, $1 billion Lerner New York division. Aved succeeds Robert C. Grayson, who has resigned for personal reasons.
 Aved returned to The Limited as executive vice president and general merchandise manager for Lerner New York in December 1990. He was part of the merchandising team at The Limited from 1972 to 1982, and was vice president of ready-to-wear when he left in 1982 to become president of the specialty store division of H.C. Prange. Aved also served as president of Brooks Fashions from 1986 to 1989 and president of Ormond Shops from 1989 to 1990.
 Grayson had been president of Lerner New York since 1985, leading a successful turnaround effort and bringing the struggling business to profitability within one year of The Limited's 1985 acquisition. He began his career at The Limited in 1970 and advanced through positions of store manager, district manager, regional manager, vice president of stores and executive vice president of the company. In 1983, he was the first to succeed Wexner as president of Limited Stores when Wexner became chairman of the newly created Limited, Inc.
 Grayson said, "The Limited presented me with the business opportunity of a lifetime. Here I've been able to grow and to prosper for 22 years and it's always been exciting. My decision to leave has been difficult but I am convinced it's the best course for my family and me. Lerner New York is a great business, with great people, and unlimited potential. With Barry's leadership, the company should continue to accelerate toward attaining that potential."
 In making the announcement, Wexner said, "I was surprised when Bob told me of his plans. We have been good friends and close business associates for more than 20 years. Bob helped to grow the business, advancing from store manager to president in 13 years and from president of Limited Stores to Lerner in just over two years. He will be missed by all of us here at The Limited and I will miss the relationship we shared as a result of our close business association. Clearly, Bob remains a friend."
 Wexner commented on Aved's appointment, "I am pleased with Barry's enthusiastic acceptance of this new challenge. He is a highly regarded leader and valued merchant. Lerner New York has benefited significantly since his return in 1990 and I am confident that his leadership will bring continued success at Lerner."
 Aved said, "I believe that Lerner New York represents the best growth potential in the U.S. retail industry. I feel fortunate and challenged to have the opportunity to work with Les and the Lerner New York associates to prove it. Let the fun begin."
 Founded nearly 75 years ago, Lerner New York was acquired by The Limited in 1985 and today has more stores under one name than any other specialty retailer in the United States. Since the acquisition, Lerner New York has upgraded and remodeled its stores to reflect a transition from a moderate-priced specialty retailer to a more conventional women's apparel franchise offering higher-quality merchandise to its customers in distinctively designed stores.
 The Limited, Inc., through Limited Stores, Lerner New York, Lane Bryant, Express, Victoria's Secret, Structure, Limited Too, Abercrombie & Fitch, Henri Bendel, Cacique, Bath & Body Works and Penhaligon's presently operates 4,194 specialty stores and distributes nationally through the Victoria's Secret, Lane Bryant Direct, Roaman's and Lerner Direct catalogues.
 -0- 2/18/92
 /CONTACT: Alfred S. Dietzel of The Limited, 614-479-7070
 (LTD) CO: The Limited, Inc.; Lerner New York ST: Ohio, New York IN: REA SU: PER


ML -- CL019 -- 0131 02/18/92 16:42 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Feb 18, 1992
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