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Liz Claiborne Cash Dividend

From: ASAP

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Liz Claiborne Inc. announced that the Board of Directors has declared a regular cash dividend on the Company's Common Stock at the rate of $0.05625 per share to be paid on March 11, 2002 to stockholders of record at the close of business on February 19, 2002. The declaration of any future dividends will be subject to the Company's earnings, financial position, capital requirements and other relevant factors. Liz Claiborne Inc. designs and markets an extensive range of women's and men's fashion apparel and accessories appropriate to wearing occasions ranging from casual to dressy. The Company also markets fragrances for women and men. Liz Claiborne Inc.'s brands include -- Claiborne, Crazy Horse, Curve, Dana Buchman, Elisabeth, Emma James, First Issue, Laundry by Shelli Segal, Liz Claiborne, Lucky Brand, Mambo, Meg Allen, Mexx, Monet, Russ, Sigrid Olsen and Villager. In addition, Liz Claiborne Inc. holds the exclusive, long-term license to produce and sell men's and women's collections of DKNY(R) Jeans and DKNY(R) Active in the Western Hemisphere, as well as CITY DKNY(R) better women's sportswear. The Company also has the exclusive license to produce and sell women's sportswear under the Kenneth Cole New York, Unlisted.com and Reaction Kenneth Cole brand names.

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