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SPIEGEL, INC. RECEIVES APPROVAL TO PURCHASE ASSETS OF NEW HAMPTON

 DOWNERS GROVE, Ill., Aug. 26 /PRNewswire/ -- Spiegel, Inc. (NASDAQ-NMS: SPGLA) said today that the U.S. Bankruptcy Court in New York, has given approval to Spiegel, Inc.'s proposed $40.1 million acquisition of substantially all the assets of New Hampton, Inc.
 New Hampton is a specialty catalog company selling predominantly women's apparel at moderate price points. The company's principal catalog, Newport News (formerly Avon Fashions), is an established leader in this market. Two smaller catalogs are James River Trader and Brights Creek.
 The transaction is expected to be completed promptly. Spiegel will continue to provide financing for the business during this period.
 John J. Shea, Spiegel vice chairman, president and chief executive officer said, "We look forward to completing this transaction. The addition of New Hampton will solidify Spiegel's position as a leading niche marketer and strengthen our potential for growth and market share expansion."
 Spiegel, Inc. is the dominant multi-channel specialty retailer marketing fashionable apparel and home furnishings to customers through catalogs and more than 280 specialty retail stores. Spiegel's businesses include Eddie Bauer, Crayola Kids, E STYLE and For You From Spiegel. Spiegel's Class A non-voting common stock trades on the NASDAQ National Market System under the ticker symbol: SPGLA.
 -0- 8/26/93
 /CONTACT: Ann Morris of Spiegel, 708-769-2590/
 (SPGL)


CO: Spiegel, Inc.; New Hampton, Inc. ST: Illinois IN: REA SU: TNM

WB -- NY066 -- 6338 08/26/93 16:12 EDT
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Publication:PR Newswire
Date:Aug 26, 1993
Words:235
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