Late - [91-present] Similar style down tube script Tommasini, but now usually painted on, and so the lettering often lacks a contrasting outline. Swoosh graphics disappear. Most obvious change is the seat tube graphic is now the same as the DT graphic (not stacked; now reads sideways). You can tell the late style decals on the ST and DT because the lettering has an outline. The model designation on the top tube continues to be a decal, not painted on. This transition appears to have largely happened between 90-91, so that we see some 15th Anniversary bikes with both Middle and Late graphics (these were made in 90 and 91). There also appears to be some bikes built after 1991 that got a version of the Middle style graphics (see previous post). It's possible that some of the middle-style ST decals continued to be used on some bikes post-1991.

Middle style above (1991 and earlier), Late style below (1991 - present):





Close-ups of the seat tubes.