Press Release

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Loews Corporation Announces Quarterly Dividend on Common Stock

NEW YORK, July 16, 2002 -- Loews Corporation (NYSE:LTR) announced today the declaration of the Company's quarterly dividend of $0.15 per share of Common Stock, payable September 3, 2002 to shareholders of record as of August 1, 2002.

Peter W. Keegan
Senior Vice President
(212) 521-2950
Joshua E. Kahn
Investor Relations
(212) 521-2788
Candace Leeds
V. P. of Public Affairs
(212) 521-2416