Financial News Release

03/12/02

Oscar(R) Gift Baskets Heavier Than Ever This Year

MONROE, Mich., March 12 /PRNewswire/ -- Oscar(R) presenters are getting an extra heavy gift in this year's gift basket. Thanks to La-Z-Boy, Hollywood heavyweights from Julia Roberts to Tom Hanks can kick back and relax in style after their appearances on the 74th Academy Awards(R), airing Sunday, March 24. Luckily for the presenters, the chairs will be available in the form of a gift certificate, so they won't have to find a rental truck to get their new recliner home.

For the first time, each presenter at the prestigious award show will receive a La-Z-Boy gift certificate for one of four stylish La-Z-Boy chairs from the company's contemporary "New Look of Comfort" collection, as part of their luxurious gift baskets. In the past, these baskets have included such lavish items as Chopard watches, Versace wallets and Armani tuxedos.

"La-Z-Boy is delighted to be included in this year's elite line-up of specialty gifts," said Kurt L. Darrow, president of La-Z-Boy. "We are certain that the celebrities receiving these La-Z-Boy chairs will be satisfied with our new look of style and world-famous comfort."

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SOURCE La-Z-Boy

/NOTE TO EDITORS: Headquartered in Monroe, Mich., La-Z-Boy is the nation's largest single 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, PCX: LZB), the nation's largest furniture manufacturer/

CONTACT: Christopher Boniface, or Shannon Quinn, both for La-Z-Boy,