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Hartmarx Announces Agreement In Principle To Acquire Business Of Consolidated Apparel Group

CHICAGO, May 30 /PR Newswire/ -- Hartmarx Corporation (NYSE: HMX) today announced that it has reached an agreement in principle with Consolidated Apparel Group, LLC, a New York based sportswear company, to purchase substantially all of the assets of the Consolidated Apparel Group. The consummation of the transaction is subject to completion of due diligence and execution and delivery of a definitive agreement. It is anticipated that the closing of the transaction will occur by June 30, 2001. Hartmarx produces and markets business, casual and golf apparel product sunder its owned brands including Hart Schaffner and Marx, Hickey-Freeman, Palm Beach, Coppley, Cambridge, Keithmoor, Racquet Club, Pusser's of the WestIndies, Royal, Brannoch, Riserva, Sansabelt, Barrie Pace and Hawksley and Wight,and has certain exclusive rights under licensing agreements to market selectedproducts under a number of premiere brands such as Austin Reed, Tommy Hilfiger, Burberry men's tailored clothing, Kenneth Cole, Ted Baker, Pringle of Scotland, Bobby Jones, Jack Nicklaus, Claiborne, Evan-Picone, PierreCardin, Perry Ellis, KM by Krizia, and Daniel Hechter. The Company's broad range of distribution channels includes fine speciality and leading department stores, internet e-commerce sites, value-oriented retailers and direct mailcatalogs. The comments set forth above contain forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The reader is directed to the Company's periodic filings with the Securities and Exchange Commission for factors that may impact the Company's results of operations and financial condition. Forward-looking statements are not guarantees as actual results could differ materially from those expressed or implied in forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.SOURCE Hartmarx Corporation Web Site: http://www.Hartmarx.comCopyright 2001 PR Newswire




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