Darden Restaurants, Fruit of the Loom added to S&P 500 Index as S&P restructures its textiles industry groups.

NEW YORK--(BUSINESS WIRE)--May 19, 1995--Standard & Poor's will transfer Oshkosh B'Gosh (GOSHA) and Hartmarx Corp. (HMX) from the S&P 500 Index to the S&P SmallCap 600 Index after the close of trading on Friday, May 26, 1995, as part of a major restructuring of the Textiles industry groups in the S&P Indices.

The companies will be replaced in the S&P 500 by Darden Restaurants Inc. (DRI), which is scheduled to be spun off by S&P 500 component General Mills (GIS) after the close of trading on May 26, and by Fruit of the Loom (FTL), which now is a component of the S&P MidCap 400 Index.

Fruit of the Loom, a leading international producer of underwear and other apparel products, will be added to the S&P 500 Textiles industry group. Darden Restaurants, whose operations include the Red Lobster and Olive Garden chains, will be added to the S&P 500 Restaurants industry group.

Two changes will be made in the S&P MidCap 400 Index as a result of the restructuring. Jones Apparel Group (JNY), a leading manufacturer of women's sportswear, suits and dresses, will replace Fruit of the Loom in the S&P MidCap 400 Textiles (Apparel & Footwear) industry group. Philips-Van Heusen (PVH), a diversified manufacturer of clothing and footwear, will change places with S&P SmallCap 600 component Hibernia Corp. (HIB), the holding company for the largest statewide bank in Louisiana. Headquartered in New Orleans, Hibernia, which now has a market capitalization of about $870 million, will be added to the S&P MidCap 400 Banks industry group.

The companies that will be replaced in the S&P SmallCap 600 by Oshkosh B'Gosh and Hartmarx are U.S. Banknote (UBK) and Coral Gables FedCorp (CGFC). U.S. Banknote ranks last in size in the S&P SmallCap 600 with a market cap of about $38 million. Coral Gables FedCorp is being acquired by First Union Corp. (FTU), a component of the S&P 500.

The following is a summary of the changes to take place:

S&P 500 Index

Ticker Company Added Industry Group DRI Darden Restaurants Restaurants FTL Fruit of the Loom Textiles

Company Deleted Industry Group GOSHA Oshkosh B'Gosh Textiles HMX Hartmarx Corp. Textiles

S&P MidCap 400

Ticker Company Added Industry Group JNY Jones Apparel Group Textiles (Apparel & Footwear) HIB Hibernia Corp. Banks

Company Deleted Industry Group FTL Fruit of the Loom Textiles (Apparel & Footwear) PVH Phillips-Van Heusen Textiles (Apparel & Footwear)

S&P Small Cap 600

Ticker Company Added GOSHA Oshkosh B'Gosh HMX Hartmarx Corp. PVH Phillips-Van Heusen

Company Deleted UBK U.S. Banknote CGFC Coral Gables FedCorp HIB Hibernia Corp.

The Equity Services Group of Standard & Poor's, a division of the Financial Information Services Group of the McGraw-Hill Companies Inc. provides financial, economic, and investment information, as well as analytical services, to the global financial community and commodity trading markets.

The S&P Equity Services Group calculates and maintains the S&P 500, S&P MidCap 400, and S&P SmallCap 600 stock price indexes, which are widely considered key barometers of stock market activity and performance benchmarks for professional money managers. More than $300 billion is currently indexed to the S&P 500. Company additions and company deletions from the S&P equity indexes do not in any way reflect an opinion on the investment merits of the company.

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