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HE-RO GROUP SIGNS AGREEMENT TO PURCHASE CERTAIN ASSETS OF RUSS TOGS

 HE-RO GROUP SIGNS AGREEMENT TO PURCHASE CERTAIN ASSETS OF RUSS TOGS
 NEW YORK, March 25 /PRNewswire/ -- The He-Ro Group, Ltd. (NYSE: HRG) announced today that He-Ro has signed an agreement under which a subsidiary of He-Ro has agreed to purchase certain of the assets of Russ Togs, Inc. (NYSE: RST).
 This agreement is subject to the approval of the Bankruptcy Court for the Southern District of New York. Russ Togs had filed for protection under Chapter 11 of the U.S. Bankruptcy Code on Nov. 6, 1991.
 The assets to be purchased include selected assets of the Russ, Villager, Crazy Horse and Red Horse divisions of Russ Togs, certain furniture, fixtures and equipment and certain inventory of such divisions. He-Ro has agreed to acquire from Russ Togs the trademarks "Crazy Horse," "The Villager," "Red Horse" and "Russ Togs." In addition, He-Ro will assume the leases for certain stores operated by Russ Togs.
 The He-Ro Group, Ltd. manufactures and markets an extensive range of women's evening and special occasion wear, dresses, suits, blouses and sportswear. He-Ro's products are sold under a number of licensed designer labels including Oleg Cassini, Bill Blass, Bob Mackie Boutique, Fabrice Silhouette, Oscar de la Renta Studio and J.G. Hook and under He-Ro's proprietary labels including Niteline.
 -0- 3/25/92
 /CONTACT: Richard Woolwine, executive vice president of He-Ro Group, 212-704-7259/
 (HRG RST) CO: He-Ro Group, Ltd.; Russ Togs, Inc. ST: New York IN: TEX SU: TNM


CK -- NY071 -- 1732 03/25/92 18:24 EST
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Publication:PR Newswire
Date:Mar 25, 1992
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