EXHIBIT L


                    AMERICAN GREETINGS EXTENDS TENDER OFFER
                          FOR GIBSON GREETINGS' STOCK


Cleveland, OH - January 2, 2000 -- American Greetings (NYSE: AM) and Gibson
Greetings (Nasdaq: GIBG) today announced that American Greetings' tender offer
for all outstanding shares of Gibson Greetings' common stock has been extended
until 5:00 p.m. Eastern time, Thursday, March 2, 2000. American Greetings and
Gibson Greetings said the offer was extended because the two companies are
still in the process of responding to a request for additional information from
the Antitrust Division of the U.S. Department of Justice .

American Greetings' tender offer was scheduled to expire at 5:00 p.m. Eastern
time, Thursday, February 3, 2000. As of the close of business on Tuesday,
February 1, 2000, a total of 9,620,331 shares of Gibson Greetings common stock
had been tendered and not withdrawn.

The information agent for the offer is Corporate Investor Communications, Inc.
Questions about the offer may be addressed to them at 877-842-2411.

American Greetings is the world's largest publicly held creator, manufacturer
and distributor of greeting cards and social expression products. With
headquarters in Cleveland, Ohio, American Greetings employs more than 21,000
associates around the world and has one of the largest creative studios in the
world. For more information on American Greetings, visit our site on the World
Wide Web at www.americangreetings.com.

Gibson Greetings, Inc., an industry innovator in the greeting card business, is
pursuing a strategy of marketing relationship-fostering products that provide
strong entertainment value. Gibson distributes more than 24,000 individual
relationship communication products (over 5,000 new products last year),
including greeting cards, gift wrap, party goods and licensed products. E-mail
greetings featuring Gibson content are available through the Egreetings Network
(www.egreetings.com), in which Gibson holds a minority equity interest. Gibson
cards are also available through the Internet from Sparks.com (www.sparks.com),
a leading online provider of greeting cards. For more information on Gibson
Greetings, please visit our web site at www.gibsongreetings.com.

Contact:

Dale A. Cable                           Jim King
Vice President, Treasurer               Manager, Investor & Media Relations
American Greetings Corporation          American Greetings Corporation
(216) 252-7300                          (216) 252-4864

Adam Friedman                           James T. Wilson
Adam Friedman Associates                Chief Financial Officer
(212) 391-7596                          Gibson Greetings, Inc.
adam@adam-friedman.com                  (606) 815-6000


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