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HARTMARX ANNOUNCES SALE OF $30 MILLION IN EQUITY

 HARTMARX ANNOUNCES SALE OF $30 MILLION IN EQUITY
 CHICAGO, Sept. 21 /PRNewswire/ -- Hartmarx Corp. (NYSE: HMX)


announced today that it will raise $30 million in equity through the sale of 5,714,286 shares of its common stock for $5.25 per share and a three-year warrant to purchase an additional 1,649,600 shares of common stock at an exercise price of $6.50 per share.
 Consummation of the sale is subject to, among other things, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and Hartmarx reaching agreement in its ongoing negotiations with its senior lenders to restructure and extend the company's debt agreements for a three-year period.
 Hartmarx's shares and warrant will be purchased by Traco International, N.V., a Netherlands Antilles corporation controlled by Abdullah Bakhsh, a Saudi Arabian businessman and investor who has made investments over the years in various U.S. corporations, including Marine Corp. (a bank holding company); Dansk International Designs, Ltd.; Gorham Inc.; Harken Energy Corp.; Tejas Power Corp.; E-Z Service Corp.; and Worthen Bank Corp.
 Traco has also entered into an agreement with Hartmarx providing Traco representation on the Hartmarx board of directors and restricting Traco's rights to acquire, sell and vote Hartmarx shares.
 Elbert O. Hand, Hartmarx chairman and chief executive officer, said, "This sale of equity is another major step in our previously announced restructuring to position Hartmarx around its successful manufacturing and wholesale businesses. We completed the first step on Sept. 18 with the sale of our principal retail unit, Hartmarx Specialty Stores, Inc. Our new equity should assist our efforts to restructure our senior debt. This capital will also help us strengthen and expand our manufacturing and wholesale businesses. We are delighted to welcome our new investor as a Hartmarx stockholder."
 Hartmarx Corp. is the nation's leading manufacturer and wholesaler of men's and women's apparel. The company's businesses include Hart Schaffner & Marx, Intercontinental Branded Apparel, Hickey-Freeman, International Women's Apparel, Trans-Apparel Group (formerly Jaymar- Ruby), Biltwell Co., Universal Design Group, Henry Grethel Apparel, Kuppenheimer, Barrie Pace Catalogue and the Special Markets Group, composed of Fashionaire Apparel and Thorngate Uniforms.
 -0- 9/21/92
 /CONTACT: Frank Brenner of Hartmarx, 312-372-6300/
 (HMX) CO: Hartmarx Corp. ST: Illinois IN: TEX SU: FNC


PS -- NY037 -- 1590 09/21/92 10:52 EDT
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Date:Sep 21, 1992
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