Liz Claiborne Inc. (NYSE: LIZ) today announced the promotion of Michael Scarpa to vice president, chief financial officer, effective immediately. In this capacity, Mr. Scarpa will be responsible for management and execution of the Company's accounting and control, taxation, internal audit, external audit, treasury, investor relations, profit improvement and facilities management activities, as well as financial planning and operations. He will report directly to Richard Zannino, senior vice president, finance and administration. Mr. Zannino, who previously held the title of chief financial officer, will have executive oversight of the CFO function as well as mergers and acquisitions, business development, inventory planning, and the Retail and Cosmetics businesses.

Commenting on the announcement, Mr. Zannino said, "This promotion is an acknowledgement of Mike's significant contribution to the achievement of our objectives over his 16 year career at Liz Claiborne. His work ethic, business acumen and focus on our key business drivers are essential to maximizing our profitability. These skills, plus his experience, make Mike an invaluable steward over the pursuit of our financial goals."

Prior to the appointment, Mr. Scarpa was vice president, financial planning and operations. He has held positions of increasing responsibility since joining Liz Claiborne as budget manager in 1983. Mr. Scarpa, who earned his Certified Public Accountant certificate in 1982, began his career as a financial analyst at jewelry manufacturer Krementz & Co.

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, Niki Taylor, 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® Jeans and DKNY® Active, as well as CITY DKNY® better women's sportswear in the Western Hemisphere. The Company also has the exclusive license to produce women's wear under the Kenneth Cole New York, and Reaction Kenneth Cole brand names.