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We introduce generalized Campanato spaces ${}_{p,\varphi }$ on a probability space (Ω,ℱ,P), where p ∈ [1,∞) and ϕ: (0,1] → (0,∞). If p = 1 and ϕ ≡ 1, then ${}_{p,\varphi }=BMO$. We give a characterization of the set of all pointwise multipliers on ${}_{p,\varphi }$.