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LIZ CLAIBORNE AUTHORIZES ADDITIONAL $50 MILLION FOR STOCK PURCHASE

 LIZ CLAIBORNE AUTHORIZES ADDITIONAL $50 MILLION FOR STOCK PURCHASE
 NEW YORK, May 14 /PRNewswire/ -- Liz Claiborne, Inc. (NYSE: LIZ) announced today that its board of directors had extended the company's previously announced program to purchase its common stock by authorizing the purchase, from time to time and as market and business conditions warrant, of up to an additional $50 million of its common stock for cash in open market purchases and privately negotiated transactions.
 The company originally announced its stock purchase program in December 1989 with a $50 million initial authorization, authorized an additional $50 million in July 1990 and another $50 million in September 1991. As of today, the company had expended the entire $150 million authorized, purchasing an aggregate of approximately 5,222,000 shares.
 Based on the last reported sales price of the company's shares Wednesday, May 13, 1992, of $37 per share, the newly authorized $50 million would involve approximately 1,351,000 additional shares. The company has approximately 84.6 million shares outstanding. Shares acquired will be available for use under the company's employee stock option plans and for other general corporate purposes. No time limit was set for the completion of the program.
 Samuel M. Miller, the company's chief Financial Officer, stated: "We continue to believe that deploying a portion of the company's available cash in this manner increases the overall return to our shareholders, without adversely impacting our ability to take advantage of business opportunities which may present themselves, or our capital spending."
 -0- 5/14/92
 /CONTACT: Samuel M. Miller, senior vice president - finance of Liz Claiborne, Inc., 201-601-8500/
 (LIZ) CO: Liz Claiborne, Inc. ST: New York IN: TEX SU:


PS -- NY115 -- 0512 05/14/92 18:22 EDT
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Publication:PR Newswire
Date:May 14, 1992
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