SUNBELT NURSERY GROUP, INC. MAKES ANNOUNCEMENT

    FORT WORTH, Texas, June 30 /PRNewswire/ -- Sunbelt Nursery Group, Inc. (ASE: SBN) announced today that Pier 1 Imports, Inc. (NYSE: PIR) has extended the maturity date of approximatley $11.6 million Sunbelt owes Pier 1 from June 30, 1994, to Sept. 21, 1994.
    Donald W. Davis, president and chief executive officer, said, "We appreciate Pier 1 cooperating with us to allow time to properly refinance the Pier 1 indebtedness. We continue to work with our financial advisors to obtain the refinancing and we're actively pursuing several viable alternatives."
    Sunbelt Nursery Group, Inc. an American Stock Exchange company, is a leading specialty nursery retailer in six major metropolitan areas in Texas, Arizona and California with 92 stores that feature nursery stock and lawn and garden products.
    -0-                        6/30/94
    /CONTACT:  Mark L. Jones, 817-738-8111 or Teresa Graham, 817-624-7253, both for Sunbelt Nursery Group/
    (SBN PIR)

CO: Sunbelt Nursery Group, Inc.; Pier 1 Imports, Inc. ST: Texas IN: REA SU: FNC 

LG -- NY046 -- 1767 06/30/94 12:31 EDT