Kate Burton, soon to be seen on Broadway in the revival of The Constant Wife, will host the second annual luncheon, which benefits the Theater Hall of Fame. This season's benefit will honor playwright Edward Albee, currently represented on Broadway with the acclaimed revival of Who's Afraid of Virginia Woolf? Actors George Grizzard, Brian Murray, Marian Seldes and Woolf's Bill Irwin will all be on hand to salute the Pulitzer Prize-winning playwright. Albee won Best Play Tony Awards for Who's Afraid of Virginia Woolf? and The Goat or Who Is Sylvia? He was also nominated for The Ballad of the Sad Café, Tiny Alice, A Delicate Balance and Seascape.

The afternoon will also feature the presentation of three fellowship grants to emerging theatre artists. This year's winners — to be announced at a later date — were selected by a three-member panel comprising Seldes, Stephen Sondheim and Santo Loquasto. Last year's fellowships, created and produced by Terry Hodge Taylor, were bestowed upon Thom Pain's Will Eno, The Goat's Jeffrey Carlson and Anna in the Tropics costume designer Anita Yavich.

Tickets, priced at $125, are available by calling (212) 307-1226. The Players Club is located in Manhattan at 16 Gramercy Park (East 20th Street between Park and Third Avenues)