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BRAE GROUP ANNOUNCES INCREASE IN FORSCHNER HOLDINGS

 HOUSTON, May 20 /PRNewswire/ -- Brae Group, Inc., a private company controlled by Louis Marx Jr., today announced that it acquired 557,839 shares of The Forschner Group, Inc. (NASDAQ: FSNR) on April 14 from Victorinox Cutlery Company, a Swiss company controlled by Charles Elsener, a substantial Brae shareholder.
 The acquisition increased Brae's holdings in Forschner to 1,245,880 shares or 19.3 percent of Forschner's outstanding stock. A Brae spokesman said that reports of the sale to Victorinox based upon a previously filed Schedule 13D and carried on news wires yesterday did not identify the purchaser or Mr. Elsener's substantial stock interest in Brae.
 Victorinox is the principal supplier to Forschner, the exclusive United States and Canadian distributor of Victorinox Original Swiss Army Officers Knives. Brae is a company holding equity interests in various entities in diversified industries. Brae's principal shareholder, Mr. Marx, has long been associated with Forschner and currently serves as chairman of its executive committee.
 -0- 5/20/93
 /CONTACT: Donald R. Dwight of Dwight Partners, 203-661-8480, for Brae Group, Inc./
 (FSNR)


CO: Brae Group, Inc.; The Forschner Group, Inc.;
 Victorinox Cutlery Company ST: Texas IN: SU:


TM-TS -- NY097 -- 3221 05/20/93 16:02 EDT
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Publication:PR Newswire
Date:May 20, 1993
Words:200
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