Contact: Barry Hirsch
                                            Senior Vice President
                                            (212) 545-2920


FOR IMMEDIATE RELEASE
- ---------------------




     NEW YORK, December 4, 1996 -- Loews Corporation (NYSE:LTR) today
said it presently intends to redeem on January 15, 1997 all of its
outstanding 8-1/4% Debentures Due 2007, at the redemption price of
103.60% of the principal amount thereof, in accordance with the
Indenture under which the Debentures were issued.  If called for
redemption on January 15, 1997, the redemption price would become due
and payable and interest on the Debentures would cease to accrue, on
that date.  The January 15, 1997 interest payment will be made in the
usual manner.

     $200,000,000 principal amount of the 8-1/4% Debentures were
issued in January 1987, all of which are presently outstanding.

     It is contemplated that Notice of Redemption for the 8-1/4%
Debentures, if called as noted, would be mailed on or prior to
December 13, 1996, and would be obtainable from The Chase Manhattan
Bank, the Indenture Trustee, Institutional Trust Group Window, 1 Chase
Manhattan Plaza - Floor 1-B, New York, New York (Mailing Address:
Corporate Bond Redemptions, 4 Chase MetroTech Center, Third Floor,
P.O. Box 2020, Brooklyn, New York 11245).