this is the blue script label. It dates from the last few years when RL made its own stuff in the USA -- around 1995-6ish. It's the precursor to purple label. The USA stuff was made to reasonably high standards, and the blue script label above that. Not quite RLPL standards, but on par with current Polo blue label (Corneliani) in my experience. So, good stuff.
Edit: Oh, and shouts out to Ian, hbkshin, LeSacre and ESPECIALLY EazyE