BELDING HEMINWAY COMPANY, INC. REPORTS SECOND QUARTER RESULTS.

NEW YORK--(BUSINESS WIRE)--July 26, 1995--Belding Heminway Company, Inc. (NYSE:BHY) today announced its financial results for the second quarter and six month periods ended June 30, 1995.

Sales in the second quarter were $31.7 million, an increase of 5% compared to $30.1 million in the year ago second quarter. Net income available to common shares was $294,000 or $0.04 per share after provision for preferred dividends compared to net income available to common shares of $585,000 or $0.11 per share after provision for preferred dividends in the year ago quarter. Net income was $611,000 before provision for preferred stock dividends of $317,000 compared to net income of $1,192,000 before provision for preferred dividends of $607,000 in the year ago period. Weighted average common shares outstanding increased 45% compared to 1994's second quarter due to the conversion of preferred stock into common shares in December 1994.

For the first six months of 1995, sales were $67.0 million compared to $58.8 million in the year ago period, an increase of 14%. Net income available to common shares increased to $1,188,000 compared to net income available to common shares of $735,000, which resulted primarily from a reduction of the provision for preferred dividends. For the first half of 1995, earnings per share rose 14% to $0.16 compared to $0.14 per share for the six months ended June 30, 1994, on a 46% increase in weighted average common shares outstanding in the first six months of 1995.

The second quarter results reflect an industry-wide softening in the home furnishings market. Additionally, higher raw material prices and associated manufacturing costs reduced margins in the Company's Thread division. These events offset positive contributions from the Company's Danfield Threads operation, which was the driver of the Company's 14% first half sales growth. In the Button division, the Company's cross-merchandising agreement with Concord House Fabrics has generated increasing sales since its inception, and is expected to produce additional opportunities to further penetrate the growing hobby and craft markets.

Gregory Cheskin, President and CEO said: "We are pleased to have achieved 14% sales growth in the first half of 1995. In the face of a difficult operating environment we are aggressively implementing additional cost reduction programs and operating cost controls to restore margins. Further, we are encouraged by the positive trend developing for housing starts and new home sales which should produce increased demand for our home furnishings products, and we remain confident that the Company will achieve double digit sales and net income growth in the second half of 1995."

Belding Heminway manufactures and markets industrial threads, decorative home furnishing fabrics and consumer sewing and crafts products, principally buttons and cotton knit yarns. In addition to its headquarters in New York City, it has manufacturing or distribution facilities in Lansing, Iowa, Hendersonville, North Carolina, Watertown and Winsted, Connecticut, Emporia, Virginia, and Bronx, New York. -0-

                       BELDING HEMINWAY COMPANY, INC.
                            AND  SUBSIDIARIES

                  CONSOLIDATED STATEMENTS OF OPERATIONS
              (Dollars in thousands, except per share data)

                          Three Months Ended    Six Months Ended
                              June 30,               June 30,
                         1995        1994         1995     1994

Net sales              $31,719     $30,099    $67,015  $58,752
Income before interest
 and income taxes       $2,304      $2,820     $5,649   $4,979
Net income
 applicable to
 common stockholders'     $294        $585     $1,188     $735

Net income per
  common share           $0.04       $0.11      $0.16     $0.14

Weighted average
 common shares
 outstanding
 (in thousands)          7,414        5,125     7,418     5,064

               CONSOLIDATED & SUMMARIZED BALANCE SHEET
                         (Dollars in thousands)

                                  June 30, 1995  December 31, 1994
                                  (Unaudited)        _________

Current Assets                       $50,955           $51,139
Total Assets                        $134,669          $132,190

Current Liabilities                  $23,941           $24,901
Total Liabilities                    $85,803           $85,131

Stockholders' Equity:
  Preferred                          $21,523            $20,897
  Common                              27,343             26,162
     Total                           $48,866            $47,059

CONTACT: Belding Heminway Company, Inc., New York

Gary Silverman, [phone]

or

Morgen-Walke Associates

June Filingeri, Robert Weiner

Media Contact: Lisa Bradlow

[phone]