CORRECTED: Cubs exercise 2008 option on Ward

(Deletes incorrect reference to Ward as pitcher in headline) CHICAGO (Reuters) - Daryle Ward, who ranks second in the major leagues with 33 pinch-hits over the last two seasons, will stay with the Chicago Cubs for at least one more campaign after the team exercised an option on the player Saturday.

Although financial terms were not disclosed by the Cubs, the deal is estimated by local media to be worth $1.2 million.

Left-hander Ward, 32, batted .327 in 79 games last season after signing a free-agent deal with the Cubs in December.

He led the team with 54 pinch-hit appearances, going 11-for-41 with 11 walks for a .268 average.

Ward trails only Houston's Orlando Palmeiro (35) in pinch-hits over the last two seasons and is tied for fifth in career pinch-hits among active players with a tally of 72.

(Writing by Mark Lamport-Stokes in Los Angeles)