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HANNIBAL ANNOUNCES AGREEMENT IN PRINCIPAL WITH SHAPES INTERNATIONAL DESIGNS

HANNIBAL ANNOUNCES AGREEMENT IN PRINCIPAL WITH SHAPES INTERNATIONAL DESIGNS
 SALT LAKE CITY, July 7 /PRNewswire/ -- Hannibal Ltd. (OTC Electronic Bulletin Board: HANN) has reached an agreement in principal to acquire the outstanding common stock of Shapes International Designs (Shapes), a designer and distributor of high fashion women's accessories, wherein Shapes would become a wholly owned subsidiary of Hannibal.
 Shapes has designed and is manufacturing high fashion gloves and scarves for the women's accessory market. Leading department stores throughout the United States including, Bloomingdales and Macy's, have issued large initial orders for the product for shipment this fall. Shapes will be operated as a separate company under the direction of Jeff Burt and Erika Michelle Goff. Both Burt and Goff have had several years experience in the fashion industry.
 W. Paul Warnock of Salt Lake City, was recently appointed president and chief executive officer of Hannibal. Warnock has an extensive management background, having served as president of two public companies over a 25 year period. He holds an accounting degree from University of Utah and an MBA degree from Harvard Business School.
 D. Weston Thatcher of Salt Lake City, was recently appointed to the board of directors of Hannibal. Thatcher was previously an executive with many years experience in the fashion goods industry, and has worked with many of the leading retailers, including J.C. Penney and Sears.
 Hannibal had been actively involved in the natural foods industry, and has developed a line of over the counter natural drugs, at a cost of over $1 million. Out of a product line of 25 natural drugs, 15 meet FDA Regulations. The Natural Foods division of Hannibal is directed by Clyde St. Clair, with more than 25 years experience in the natural foods industry. St. Clair was the key person who developed the concept of over the counter natural medicines.
 -0- 07/07/92
 CONTACT: Paul Warnock of Hannibal, 801-364-9724 or 801-278-6656
 (HANN) CO: HANNIBAL LTD.; SHAPES INTERNATIONAL DESIGNS SU: PER ST: UT -- DV006 -- X869 07/07/92
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Publication:PR Newswire
Date:Jul 7, 1992
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