Integrated Brands Inc. announces financial results.

RONKONKOMA, N.Y.--(BUSINESS WIRE)--March 28, 1997--Richard E. Smith, chairman and chief executive officer of Integrated Brands Inc. (NASDAQ:IBIN), announced the company's financial results for the year ended Dec. 28, 1996.

Integrated Brands reported revenues for the year ended Dec. 28, 1996 of $42,853,000 as compared with revenues of $37,969,000 for the year ended Dec. 30, 1995. Net loss for the year ended Dec. 28, 1996 was $2,928,000, or 29 cents loss per share, as compared with net income of $713,000, or 7 cents income per share, for the year ended Dec. 30, 1995.

The increase in revenues for the year ended Dec. 28, 1996, compared with 1995 was due primarily to the increase in new product authorizations in retail outlets and an increase in sales promotions.

The decline in operating results was primarily attributable to the increase in product support and selling expenses and losses associated with the operation of a company-owned prototype brick oven pizzeria offset in part by the increased gross profit dollars realized as a result of increased sales volume.

In Dec. 1996, the company entered into a license agreement with Tropicana Products Inc. for the sale and distribution of frozen novelties under the Tropicana trademark. The initial response to these products from chain store buyers has been positive.

Integrated Brands sells and distributes a variety of branded frozen dessert products to supermarkets, grocery stores, club stores, gourmet shops, delicatessens and convenience stores.

The company pursuant to long-term exclusive license agreements markets, sells and distributes Tropicana frozen desserts, Yoplait and Colombo ready-to-eat frozen products, Betty Crocker frozen desserts, individual and multipack Trix frozen novelties, individual and multipack YooHoo frozen novelties and Sweet 'N Low fat-free ice cream.

The company's products include prepackaged "Chilly Things," "Great American," "Tropical" and "Bullet" frozen novelties. The company, directly and through subsidiaries, also operates, franchises and licenses Steve's, Swensen's and triple trademark frozen dessert stores throughout the United States and certain foreign counties. -0-

                 Summary of Financial Information
                      Integrated Brands Inc.

                     Dec. 28, 1996          Dec. 30, 1995

Revenues               $42,853,000            $37,969,000

Net income (loss)      ($2,928,000)              $713,000

Earnings (loss) per
common share                 ($.29)                  $.07

Average number of
 Common shares and
 common equivalent
 shares outstanding     10,120,000             10,243,000

CONTACT: Integrated Brands Inc., Ronkonkoma

Gary P. Stevens, 516/737-9700