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Recipients of Polo Ralph Lauren Foundation

From: ASAP

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Polo Ralph Lauren Corporation (NYSE: RL) announced today that recipients of the Polo Ralph Lauren Foundation's $4 million American Heroes Fund will include The Twin Towers Fund, The New York Police and Fire Widows' and Children's Benefit Fund, The September 11th Fund and the American Red Cross Disaster Relief Fund. In addition, the Fund will be used to create American Heroes Fund Scholarships to provide educational assistance to children of those who died, or were permanently disabled as a result of the September 11th attacks.

The American Heroes Fund of the Polo Ralph Lauren Foundation was created in the days following the September 11th attacks to allow Polo's 10,000 employees worldwide as well as the Company's customers and related business partners the opportunity to participate in the relief effort. The Company matched employee contributions dollar-for-dollar and also donated 10% of customer purchases at Ralph Lauren stores and on Polo.com during the month of October 2001.

The American Heroes Scholarship program will run for a period of twenty years so that even victim's children born in the months following September 11th will be eligible for scholarships. Funds will be available to financially needy high school seniors or graduates planning to enroll, or those currently enrolled in an accredited two- or 4-year college, university or vocational-technical school. American Heroes Scholarships will be administered through Citizens' Scholarship Foundation of America as part of the September 11th Scholarship Alliance. Citizens' Scholarship Foundation is the nation's largest private sector scholarship and educational support organization.

In addition to the American Heroes Fund, the Polo Ralph Lauren Foundation's initiatives include the Pink Pony campaign and the Ralph Lauren Center for Cancer Care and Prevention. Pink Pony is an international fundraising and awareness effort aimed at reducing disparities in cancer care in medically under-served communities. The campaign supports the broader mission of the Ralph Lauren Center for Cancer Care and Prevention in Harlem, an innovative joint venture with Memorial Sloan-Kettering, the nation's leading cancer center, and North General Hospital in Harlem. Scheduled to open in January 2003, the Center will provide high quality cancer care as well as research, screening and education tailored to meet the specific needs of the Harlem community. The Ralph Lauren Center is a unique facility that will serve as a model for other medically under-served communities.

The Polo Ralph Lauren Foundation is a charitable foundation created for the purpose of providing support for philanthropic programs including, but not limited to, education, healthcare in medically under-served communities, the arts and community-based initiatives. Dr. Oscar Cohen, former superintendent and chief executive officer of the Lexington School and Center for the Deaf, was recently named executive director of the Polo Ralph Lauren Foundation.

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