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SPORTS/LEISURE COMPLETES $1.7 MILLION FINANCING

 BOCA RATON, Fla., Aug. 11 /PRNewswire/ -- Sports/Leisure (NASDAQ: SPLE) today announced the completion of a private placement of 718,500 shares of its Series A $2.00 Cumulative, Convertible Preferred Stock, resulting in net proceeds of approximately $1.4 million to the company. Such proceeds are targeted for general working capital and business expansion.
 The private placement satisfies the previously announced obligation of Sports Leisure Acquisition Limited ("SLAL") to purchase a total of 750,000 shares of preferred stock in three escalating increments during the period between March 22, 1993 and Sept. 22, 1993. SLAL purchased a total of 175,000 shares of such preferred stock through March 30, 1993. Combined with the private placement, total net proceeds to the company funded by and through SLAL amounted to approximately $1.7 million, or approximately $.2 million in excess of contractual requirements.
 Milton H. Barbarosh, chief executive officer, stated: "We are very gratified by the interest in and success of the company's private offering. The proceeds of the offering will enable us to properly finance continued focus on generating profitable operations from our current business and to pursue strategic acquisition opportunities as they become available."
 Sports/Leisure, Inc. designs, contracts for the manufacture of, and markets women's sports apparel through its wholly owned subsidiary, Softouch Company, Inc.
 -0- 8/11/93
 /CONTACT: Milton H. Barbarosh, chief executive officer of Sports/Leisure, 407-241-9921/
 (SPLE)


CO: Sports/Leisure, Inc. ST: Florida IN: TEX SU:

AW-JB -- FL003 -- 1563 08/11/93 10:07 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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