  We show that there is a correlation between the invariant mass of the
produced \Lambda K^+, \Lambda K^+\pi^+\pi^- or \Lambda K^+ \pi^+\pi^-\pi^+\pi^-
system in the exclusive reaction pp\to p\Lambda K^+\pi^+\pi^-\pi^+\pi^- and the
longitudinal or transverse momentum of $\Lambda$. Together with the
longitudinal and transverse momentum dependence of Lambda polarization observed
in inclusive reactions, such a correlation implies a dependence of Lambda
polarization on these invariant masses. The qualitative features of this
dependence are consistent with the recent observation by E766 collaboration at
BNL. A quantitative estimation has been made using an event generator for $pp$
collisions. A detailed comparison with the data is made.
