Correcting Company Name in fourth paragraph of Sunglass Hut International acquires Sunsations Sunglass Company.

CORAL GABLES, Fla.--(BUSINESS WIRE)--June 30, 1995--Sunglass Hut International (NASDAQ:RAYS) announced today that it has completed the acquisition of Sunsations Sunglass Company, an Indianapolis-based specialty sunglass chain with approximately 350 stores in 44 states. The two companies entered into a definitive agreement for the acquisition in mid-May.

In accordance with the related merger agreement, Sunglass Hut issued a total of 3,705,882 shares of its common stock to the former shareholders of Sunsations. Sunglass Hut also repaid approximately $14 million of Sunsations' outstanding indebtedness to financial institutions and expects to incur approximately $10 million in transaction and other merger-related costs. The merger will be accounted for as a "pooling of interests."

"The acquisition of Sunsations is especially significant because it will provide us with new synergies in the market as well as strengthen relationships with key vendors and developers," commented Jack B. Chadsey, president and chief executive officer of Sunglass Hut. "In addition, this acquisition will enable us to realize our strategy of increasing our presence in middle markets and cement our position as the undisputed international leader in the premium sunglass industry."

In addition to the Sunsations acquisition, Chadsey also said Sunglass Hut now plans to open 350 new stores in 1995 in both domestic and international locations.

Sunglass Hut International is the world's largest specialty retailer of non-prescription sunglasses, with approximately 1,400 stores located throughout the United States, Canada, the Caribbean, Mexico, and Europe. Sunglass Hut also operates 80 joint venture stores in Australia.

CONTACT: Sunglass Hut International, Coral Gables

Jack B. Chadsey or Larry G. Petersen, 800/767-0990, ext.6225

Sara L. Wilkins, 800/767-0990 ext. 6234