MONROE, Mich., Nov. 14 /PRNewswire/ -- Directors of La-Z-Boy Incorporated (NYSE: LZB; PCX) today declared a quarterly cash dividend of $0.09 per share on the company's common stock, the same rate paid in the previous quarter. The dividend is payable December 10, 2001 to shareholders of record as of November 26, 2001.

With annual sales in excess of $2 billion, La-Z-Boy Incorporated is the largest U.S. residential furniture producer, with approximately 19,000 employees and manufacturing operations in ten states and four foreign countries. The La-Z-Boy Incorporated family of companies -- Alexvale, American Drew, Bauhaus, Centurion, Clayton Marcus, England, Hammary, HickoryMark, Kincaid, La-Z-Boy, La-Z-Boy Contract Furniture Group, Lea, Pennsylvania House, Pilliod and Sam Moore -- produces furniture for every room of the home and office. And, under the American of Martinsville brand name, La-Z-Boy Incorporated is also a leading manufacturer of contract furniture for hospitality and assisted-living markets.

The corporation's vast proprietary distribution network, which includes 296 La-Z-Boy Furniture Galleries(R) and 324 La-Z-Boy In-Store Gallerys, as well as in-store gallery programs at Kincaid, Pennsylvania House and Clayton Marcus, England's Custom Comfort Centers and Lea's Kid's Generation displays, is dedicated exclusively to selling La-Z-Boy Incorporated products and brands. According to industry trade publication Furniture/Today, the La-Z-Boy Furniture Galleries retail stores network by itself represents the industry's fifth largest U.S. furniture retailer. The corporation's stock is traded on the New York and Pacific stock exchanges under the trading symbol: LZB. Additional information is available at www.la-z-boy.com .

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SOURCE La-Z-Boy Incorporated

CONTACT: Mark Stegeman of La-Z-Boy Incorporated, +1-734-241-4418, mark.stegeman@la-z-boy.com /