Financial News Release

05/12/03

Celebrity La-Z-Boy Recliner Auction Starts Today on eBay

Recliners by Jennifer Aniston, Courteney Cox, Lisa Kudrow, Matt LeBlanc, Matthew Perry and David Schwimmer to Benefit the Elizabeth Glaser Pediatric AIDS Foundation

MONROE, Mich., May 12, 2003 /PRNewswire via COMTEX/ -- With the quick click of a mouse -- and the highest bid -- "Friends" fans can own one or more of six unique recliners created by members of the celebrity cast. Today, La-Z-Boy recliners designed by Jennifer Aniston, Courteney Cox, Lisa Kudrow, Matt LeBlanc, Matthew Perry and David Schwimmer go up for bid on eBay ( www.ebay.com/celebrityrecliner ) with proceeds benefiting the Elizabeth Glaser Pediatric AIDS Foundation. The auction ends Thursday, May 22, in conjunction with the show's much-anticipated season finale.

(Photo: http://www.newscom.com/cgi-bin/prnh/20030421/CGM001 )

"We hope that through the eBay auction, these celebrity-designed La-Z-Boy recliners will raise a significant amount of money for pediatric AIDS research, a cause that we are proud to support," said Doug Collier, vice president of marketing for La-Z-Boy. "These chair designs, which range from sleek and retro to curvy and contemporary, are nothing short of amazing. They do a great job of demonstrating the variety and style of today's La-Z-Boy recliner."

The television stars created the chairs in conjunction with La-Z-Boy -- the world's leading producer of reclining chairs -- as part of a partnership between the furniture company, the Elizabeth Glaser Pediatric AIDS Foundation and In Style magazine. Each of the unique recliners reflects the personal style of its celebrity designer. Following are brief descriptions of each of the chairs:

    -- Jennifer Aniston - The entertaining, club-style recliner designed by
       Aniston is both curvy and contemporary, with two unique arcs that act
       as both the armrests and the legs.
    -- Courteney Cox - Cox's design was inspired by the Eames Lounger.  It's a
       stylish and comfortable modern recliner that combines leather and wood.
    -- Lisa Kudrow - The charming and classy rocker-recliner designed by
       Kudrow features a distinctive argyle-influenced pattern on its leather
       back.
    -- Matt LeBlanc - LeBlanc's plush and stylish recliner is made in a grand
       scale with a deep seat and black leather cover.
    -- Matthew Perry - Covered in Indigo blue velvet, Perry's chic media
       recliner encompasses a clean and contemporary look, as well as side
       storage, a detachable swivel tray and a cup holder.
    -- David Schwimmer - The fun and quirky beach ball recliner designed by
       Schwimmer is a spirited, colorful rocking recliner with a matching
       ottoman.

"We are thrilled to partner with La-Z-Boy and In Style for this fun and meaningful auction on eBay," said Kate Carr, president and CEO, the Elizabeth Glaser Pediatric AIDS Foundation. "And, a special thanks to the entire cast of 'Friends' for their involvement and creative spirit, designing such unique and memorable recliners. The money raised through this project will have a tremendous impact on helping children worldwide lead healthier lives."

This effort marks the second time that La-Z-Boy has partnered with well- known personalities to design recliners for charity. Last year, the company partnered with In Style and seven top fashion designers, including Nicole Miller, Tommy Hilfiger and Todd Oldham, raising nearly $60,000 for homeless people living with HIV/AIDS.

For more information about the celebrity-designed recliners and charity auction, visit www.la-z-boy.com or www.ebay.com/celebrityrecliners .

About the Elizabeth Glaser Pediatric AIDS Foundation

The Elizabeth Glaser Pediatric AIDS Foundation continues to build on its unique model of innovative and collaborative scientific research as the leading nonprofit organization committed to ensuring better medical treatments for children, preventing mother-to-child transmission of HIV, addressing other serious and life-threatening diseases through the Glaser Pediatric Research Network, and creating a healthier future for children worldwide. To learn more about the Foundation and its programs, visit the Foundation's Web site at www.pedaids.org .

About La-Z-Boy

Headquartered in Monroe, Mich., La-Z-Boy is the nation's largest manufacturer of upholstered furniture and the world's leading producer of reclining chairs. The company manufactures a full line of products for the living room and family room, including the company's world-famous recliners, reclining sofas and love seats, sleep sofas, modular furniture and leather upholstery, as well as stationary sofas, love seats and chairs. It is a division of La-Z-Boy Incorporated (NYSE: LZB), one of the nation's largest furniture manufacturers and marketers.

About In Style

In Style, a celebrity lifestyle magazine, was launched in June 1994 by Time Inc. and within eight years has emerged as one of the most successful magazines on newsstands today. An insider's guide to the lives and lifestyles of the world's most fascinating people, In Style offers a wealth of inspiration and ideas about beauty, fashion, decor, entertaining and charities. In addition, for the last three years, In Style has been number one on the Capell's Circulation Report and for the last seven years has consistently ranked within the top five on Adweek Magazine's prestigious "Hot List." InStyle.com, the most recent extension of the In Style brand, was launched in November 2000. Within the last year, the site has emerged as one of the most successful resources on the internet for celebrity style, fashion and beauty advice, serving more than one million visitors a month.

SOURCE La-Z-Boy Incorporated

Christopher Boniface or Shannon Quinn for La-Z-Boy,
+1-800-837-7123 or +1-312-565-3900
/Photo:  NewsCom:  http://www.newscom.com/cgi-bin/prnh/20030421/CGM001
AP Archive:  http://photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
http://www.pedaids.org