American Greetings Responds To Wall Street Journal Article

CLEVELAND, July 3 /PRNewswire-FirstCall/ -- American Greetings Corporation (NYSE: AM) today responded to an article in today's Wall Street Journal about reserve accounts.

The Corporation believes that the analysis of the facts pertaining to American Greetings is incomplete and that the implications of the article are misleading. American Greetings had discussed the reasons for the decline in -- as well as the adequacy of -- its sales returns reserves during its first quarter conference call on June 27 and will issue a complete statement summarizing the points not taken into account by the article later today.

About American Greetings

American Greetings Corporation (NYSE: AM) is the world's largest publicly held creator, manufacturer and distributor of greeting cards and social expression products. Its staff of artists, designers and writers comprises one of the largest creative departments in the world and helps consumers "say it best" by supplying more than 15,000 greeting card designs to retail outlets in nearly every English-speaking country. Located in Cleveland, Ohio, American Greetings generates annual net sales of approximately $2 billion. For more
information on the Corporation, visit http://corporate.americangreetings.com/ on the World Wide Web.