Liz Claiborne Inc. (NYSE: LIZ) announced today the Company would design and produce a new Niki Taylor(TM) line of apparel to be sold exclusively at Target Stores.

Niki Taylor is a new lifestyle brand created by Liz Claiborne to expressly address the multi-faceted fashion needs of the Target guest. The line builds upon the notoriety of one of America's most recognized and admired models, and will consist of casual, related outfits in easy-care fabrics for optimum versatility. Labels and hangtags on the clothing and in-store fixturing will prominently feature the connection between the Niki Taylor line and Liz Claiborne Inc. Niki Taylor will launch in 150 Target Stores in Holiday 2000, with plans to be in all Target Stores by Fall 2001.

Commenting on the announcement, Paul R. Charron, chairman and chief executive officer of Liz Claiborne Inc., said: "Our vision is to be wherever our consumer shops. The combination of Liz Claiborne's design and sourcing capabilities and Target's strength in marketing and in-store merchandising will enable us to reach a new consumer with fashion right product at a great value. We at Liz Claiborne are looking forward to joining forces with Niki and Target to create a powerhouse lifestyle brand."

"The classic designs of Liz Claiborne Inc. are timeless favorites among our guests," said Luis Padilla, senior vice president of Merchandising for Target Stores. "With the introduction of the Niki Taylor line at Target Stores, we are continuing to provide our guests with well-designed, affordable fashion."

Niki Taylor said: "My line will fill a void for many young working mothers -- women who want to look good, feel comfortable and need versatile clothing that can go from day to night. I am thrilled to be working with partners like Liz Claiborne and Target that can offer great fashion at a great value."

Minneapolis-based Target Stores, an upscale discount retailer, serves guests at 921 stores in 45 states nationwide and at by delivering today's best retail trends at affordable prices. The largest division of Target Corporation (NYSE: TGT), Target Stores gives back more than $1 million a week to its local communities through grants and special programs. Since opening its first store in 1962, Target has partnered with nonprofit organizations, guests and team members to help meet community needs.

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 Dungarees, Russ, Sigrid Olsen and Villager. In addition, Liz Claiborne Inc. holds the exclusive, long-term license to source, market, and sell men's and women's DKNY® Jeans and DKNY® Active collections in the Western Hemisphere, as well as the exclusive license to produce women's wear under the Kenneth Cole New York, and Reaction Kenneth Cole brand names.