Polo Ralph Lauren Corporation (NYSE: RL) announces that the Company's Board of Directors has authorized a new $250 million share buyback program.

www.ralphlauren.com

The program permits the Company to repurchase $250 million of its shares of Class A Common Stock, subject to market conditions. This amount is in addition to the $319 million available at the end of the first quarter of Fiscal 2011 as part of previously authorized stock repurchase programs, bringing the Company`s total current authorizations to $569 million.

Shares acquired under the repurchase program will be held in treasury for future use.

Polo shares closed at $84.29 on Thursday on the New York Stock Exchange.