Arden Group releases sales and income figures for fourth quarters and years ended 1994 and 1993.

LOS ANGELES--(BUSINESS WIRE)--March 28, 1995--Arden Group Inc. (NASDAQ/NMS:ARDNA) Tuesday released its sales and income figures for the fourth quarters and years ended Dec. 31, 1994, and Jan. 1, 1994, respectively.

Arden Group currently operates 12 Gelson's and Mayfair supermarkets in Southern California. -0-

            ARDEN GROUP INC. AND CONSOLIDATED SUBSIDIARY

                       Fourth quarter 1994/a   Fourth quarter 1993/a

Sales                      $ 61,721,000            $ 63,063,000
Operating income           $  2,493,000/b          $  1,425,000
Interest, dividend and
 other income (expense),
 net                            469,000/c               175,000
Unrealized loss on
 marketable securities         (646,000)                     --
Income from continuing
 operations before
 income taxes                 2,316,000               1,600,000
Income tax provision            935,000                 650,000
Income from continuing
 operations (net of
 income taxes)                1,381,000                 950,000
Discontinued operations:
 Income from operations
  (net of income taxes of
  $131,000)                          --                 196,000
 Loss on sale of Telautograph
  net assets (net of income
  tax benefit of $880,000)           --              (1,218,000)
Net income (loss)           $ 1,381,000            $    (72,000)
Net income (loss) per
 common share:
 Income from continuing
  operations                $      1.04            $  (59 cents)
 Discontinued operations:
  Income from operations             --                12 cents
  Loss on sale of net
   assets of Telautograph            --               (75 cents)
  Net income (loss) per
   common share             $      1.04            $   (4 cents)
Weighted average common
 shares outstanding           1,325,188               1,612,724
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                       Fifty-two weeks 1994/a   Fifty-two weeks 1993/a

Sales                      $246,199,000            $246,912,000
Operating income           $  8,305,000/d          $  6,411,000
Interest, dividend and
 other income (expense),
 net                          1,603,000/c                50,000
Unrealized loss on
 marketable securities       (1,786,000)                     --
Income from continuing
 operations before
 income taxes                 8,122,000               6,461,000
Income tax provision          3,273,000               2,623,000
Income from continuing
 operations (net of
 income taxes)                4,849,000               3,838,000
Discontinued operations:
 Income from operations
  (net of income taxes of
  $1,496,000)                        --               2,216,000
 Gain on sale of Telautograph
  net assets (net of income
  taxes of $424,000)                 --                 620,000
Net income                  $ 4,849,000            $  6,674,000
Net income per common share:
 Income from continuing
  operations                $      3.18            $       2.38
 Discontinued operations:
  Income from operations             --                    1.37
  Gain on sale of net
   assets of Telautograph            --                39 cents
  Net income per
   common share             $      3.18            $       4.14
Weighted average common
 shares outstanding           1,527,128               1,612,724

a/ Fourth quarter 1994 ended on Dec. 31, 1994, and fourth quarter
   1993 ended on Jan. 1, 1994.

b/ GPS was sold May 27, 1994.  No pretax income for GPS is included
   in the fourth quarter of 1994 compared with a pretax loss of
   $299,000 in the fourth quarter of 1993.  The company recognized
   in the fourth quarter of 1994 insured cost recoveries of
   $1.3 million related to the Jan. 17, 1994, earthquake centered
   in Northridge, Calif.  The company also recognized fourth quarter
   1994 charges of $762,000 to reserve for the remaining lease
   costs of two vacant stores located in Arizona.

c/ An increased level of investments and increased earnings rates on
   investments resulted in higher interest and dividend income of
   $1,646,000 in 1994 compared with 1993.  A reduction of debt resulted
   in lower interest expense of $530,000 and $540,000 for the fourth
   quarter 1994 and the year ended 1994, respectively, compared to
   the same periods in 1993.

d/ In 1994, the company recognized contractual credits against union
   health and welfare payments which increased operating income by
   $2.5 million compared with $724,000 of such credits taken in 1993.
   GPS had a pretax loss of $187,000 in 1994 compared to a pretax gain
   of $168,000 in 1993.

CONTACT: Arden Group Inc., Los Angeles

Ernest T. Klinger, 310/638-2842