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HE-RO GROUP REPORTS RESULTS

 HE-RO GROUP REPORTS RESULTS
 NEW YORK, Jan. 14 /PRNewswire/ -- The He-Ro Group, Ltd. (NYSE: HRG)


today announced sales and earnings for the first half ended Nov. 30, 1991.
 Net sales for the second quarter decreased 4.2 percent to $41,703,000 from $43,551,000 for the comparable quarter last year. Net income for the second quarter increased 16.6 percent to $4,941,000 from $4,237,000 in the same period last year. Net income per share was $0.78 based on a weighted average of 6,295,000 shares outstanding as compared to $0.90 for the comparable quarter last year based on a weighted average of 4,693,000 shares outstanding.
 Net sales for the six months ended Nov. 30, 1991, increased 6.2 percent to $75,975,000 from $71,539,000 for the comparable six-month period last year. Net income for the first six months increased 27.3 percent to $7,445,000 from $5,850,000 in the same period last year. Net income per share was $1.36 based on a weighted average of 5,490,000 shares outstanding as compared to $1.25 for the comparable six months last year.
 The company completed its initial public offering of 2,024,000 shares at $17.00 per share on Sept. 26, 1991.
 The He-Ro Group, Ltd. manufactures and markets an extensive range of women's evening and special occasion wear, dresses suits, blouses and sportswear. The company's products are sold under a number of licensed designer labels including Oleg Cassini, Bill Blass, Bob Mackie Boutique, Fabrice Silhouette, Oscar de la Renta Studio and J.G. Hook and under the company's proprietary labels including Niteline, Pia Rucci, D'ore by Della Roufogali.
 THE HE-RO GROUP, LTD
 Financial Highlights
 (Unaudited -- in thousands)
 Three Months Six Months
 Periods ended Nov. 30; 1991 1990 1991 1990
 Net sales $41,703 $43,551 $75,975 $71,539
 Gross profit 18,520 16,945 32,757 28,101
 S, G & A expenses 10,074 8,864 19,611 16,631
 Income from operations 8,446 8,081 13,146 11,470
 Interest expense 581 1,081 1,379 1,737
 Income before
 pro-forma taxes 7,865 7,000 11,767 9,733
 Pro-forma net income 4,941 4,237 7,445 5,850
 Weighted average
 shares outstanding 6,295 4,693 5,490 4,693
 Net income per share $.78 $.90 $1.36 $1.25
 -0- 1/14/92
 /CONTACT: Richard Woolwine, executive vice president of He-Ro Group, 212-704-7259/
 (HRG) CO: He-Ro Group, Ltd. ST: New York IN: TEX SU: ERN


PS-JT -- NY072 -- 9772 01/14/92 17:51 EST
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Date:Jan 14, 1992
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