Arden Group Inc. Releases Sales and Income Figures.

LOS ANGELES--(BUSINESS WIRE)--Nov. 17, 1998--Arden Group Inc. (Nasdaq/NMS:ARDNA) Tuesday released its sales and income figures for the third quarters ended Oct. 3, 1998, and Sept. 27, 1997, respectively.

Arden Group operates 13 Gelson's and Mayfair supermarkets in Southern California. -0-

             Arden Group Inc. and Consolidated Subsidiary

                     Third Quarter 1998(a)     Third Quarter 1997(a)

Sales                   $ 74,120,000              $ 65,897,000

Operating income           4,607,000(b)              3,542,000
Interest, dividend and
  other income (expense),
  net                        155,000                   190,000
Net unrealized gain on
  marketable securities           --                   136,000

Income from continuing
  operations before
  income taxes             4,762,000                 3,868,000
Income tax provision       1,908,000                 1,519,000

Net income              $  2,854,000              $  2,349,000

Basic net income per
  common share(d)           80 cents                  57 cents

Weighted average common
  shares outstanding       3,585,472                 4,108,842


                 Thirty-nine Weeks 1998(a)   Thirty-nine Weeks 1997(a)

Sales                   $217,276,000              $196,218,000

Operating income          11,858,000(b)              9,615,000
Interest, dividend and
  other income (expense),
  net                        342,000                   873,000
Net unrealized gain on
  marketable securities           --                    76,000

Income from continuing
  operations before
  income taxes            12,200,000                10,564,000
Income tax provision       4,869,000                 4,138,000

Income from continuing
  operations, net of
  income taxes             7,331,000                 6,426,000
Loss from discontinued
  operations, net of
  income tax benefits of
  $1,602,000                      --                (2,738,000)(c)

Net income              $  7,331,000              $  3,688,000

Basic net income per
  common share(d):
 Income from continuing
   operations           $       2.04              $       1.48
 Loss from discontinued
   operations                     --                 (63 cents)
  Net income per common
    share               $       2.04                  85 cents

Weighted average common
  shares outstanding       3,585,472                 4,326,913

(a)  Third quarter 1998 ended on Oct. 3, 1998, and third quarter 1997
     ended Sept. 27, 1997.
(b)  Reflects an increase in sales and gross profit percentage.
(c)  Reflects an arbitration decision adjusting the 1993 sales price
     of the company's communication equipment-business and
     arbitration-related expenses.
(d)  Current- and prior-year share and per share data have been
     restated to reflect the company's 4-for-1 stock split on July 15,
     1998.