Timberland announces $106 million private placement.

STRATHAM, N.H.--(BUSINESS WIRE)--Dec. 15, 1994--The Timberland Co. (NYSE: TBL) announced today that it has finalized a $106 million private placement with a group of nine insurance company lenders.

The senior notes were priced at 115 basis points over treasuries and were structured

Keith D. Monda, Timberland's chief executive officer, stated, "We are pleased by the strong market response and the participation of premier lenders. The private placement represents an integral component of our capital structure which we expect will support the company's capital needs through 1995, eliminating the need for additional permanent financing."

Timberland designs and manufactures premium quality footwear, apparel and accessories for men and women which are sold domestically and in over 50 countries worldwide through specialty stores, concept shops and better-grade department stores. Timberland's worldwide headquarters is located in Stratham, N.H. Timberland stock trades on the New York Stock Exchange under the symbol TBL.

CONTACT: Timberland

Nancy Wels, 603/773-1286