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HARMONY GROUP ANNOUNCES AGREEMENT WITH SHEFFIELD INDUSTRIES

 HARMONY GROUP ANNOUNCES AGREEMENT WITH SHEFFIELD INDUSTRIES
 NEW YORK, April 8 /PRNewswire/ -- Harmony Group, LTD. (NASDAQ: HMNY, delisted) announced today that it has agreed to sell specific inventory, all machinery and equipment, as well as license rights of its wholly owned subsidiary LeRoi Princeton, Inc., a manufacturer of children's wear, to Sheffield Industries, Inc. (NASDAQ: HOSE).
 Sheffield will purchase substantially all the machinery and equipment employed in the manufacture of children's pantyhose and tights, socks and sleepwear by assuming approximately $1.7 million of LeRoi indebtedness. In addition, Sheffield will purchase, for cash, approximately $1.2 million of inventory discounted to liquidation value.
 As part of the agreement, Sheffield has obtained a 10-year license to use all LeRoi trademarks in exchange for a 5 percent royalty. Such license will terminate upon the completion of a Trademark Purchase Agreement regarding LeRoi and other trademarks for restricted shares of Sheffield common stock. Closing of the Trademark Purchase Agreement is subject to several significant events, including satisfactory settlement of trade creditor and unsecured creditor claims. If these events are satisfied, Harmony Group anticipates the Trademark Purchase Agreement to close in about 90 days.
 Sheffield Industries, Inc. manufactures and distributes ladies hosiery products including pantyhose, knee-highs and tights under the private label of its customers which include K-Mart, WalMart, J.C. Penney, Rite-Aid, F.W. Woolworth, PharMor, Family Dollar, Payless Shoe Source and Sears. Sheffield also manufactures and markets "Fruit of the Loom" pantyhose, knee-highs and children's tights and fashion oriented products in its "Chic" brand label programs and distributes T-shirts and sweat shirts and pants under licenses from major colleges and universities.
 -0- 4/8/92
 /CONTACT: Scott A. Nagelvoort of Harmony Group, 212-943-9115/
 (HMNY) CO: Harmony Group, LTD. ST: New York IN: REA SU:


AL -- MN009 -- 6418 04/08/92 16:28 EDT
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Date:Apr 8, 1992
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