Exhibit (a)

                                                                         [Date]


Dear Bulova Shareholder:

  Loews Corporation owns approximately 97% of the stock of Bulova Corporation,
which it has held for many years. The remaining 3% is owned by members of the
public, including you. In recent years it has become increasingly expensive
and complex to manage a company that has public shareholders. In light of
these concerns, and considering the very limited public ownership and trading
of Bulova's shares, Loews has decided to acquire all of the Bulova stock that
we do not already own for a price of $35 per share, which we will pay you in
cash.

  We will accomplish this by means of a "short form" merger, which we can do
without any approval or other action by Bulova's public shareholders or its
Board of Directors.  As a result of the merger, Loews will own 100% of Bulova
and you and Bulova's other public shareholders will be paid cash for their
shares. We expect to complete the merger in approximately three weeks and to
pay you for your shares shortly thereafter.

  Included with this letter is our Statement on Schedule 13E-3, which we have
filed with the Securities and Exchange Commission. The Schedule 13E-3 gives
detailed information about this transaction, including how it affects you, our
reasons for doing it, our views as to the fairness of the $35 per share price,
and your rights if you believe the price is unfairly low. Please read this
document carefully.

  If you believe that the $35 per share price is unfairly low, you will have
the right to have a court in New York determine the value of your Bulova
shares -- this is called an appraisal right -- and be paid the appraised value
determined by the court, which could be more or less than $35 per share. The
procedures to exercise this right are described in the enclosed document and
need to be followed carefully, so we recommend that you consult a lawyer if
you consider taking this step. You do not need to do anything else at this
time.

  After the merger is completed, we will mail you instructions on how to
surrender your Bulova shares for payment or, if you so choose, to exercise
your appraisal rights. You should not deliver your Bulova stock certificate(s)
to us or otherwise respond to this notice until after you have received those
instructions.

  If you have questions about this process, you should contact the Investor
Relations Department of Registrar and Transfer Company, Bulova's transfer
agent and the exchange and paying agent for this transaction, at 1-800-368-
5948 or by email at info@rtco.com.
                    -------------

                                             Very truly yours,

                                             Loews Corporation
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381525.01-Wilmington Server 1A		MSW - Draft May 20, 2004 - 11:58 AM