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JONES APPAREL GROUP ISSUES ANNOUNCEMENT

 NEW YORK, Aug. 17 /PRNewswire/ -- Jones Apparel Group, Inc. (NYSE: JNY) today announced that its wholly owned subsidiary, Jones Investment Co., Inc., had signed a letter of intent to acquire from Crystal Brands, Inc. the worldwide rights to its "Evan Picone" trademark.
 The purchase also included the assignment by Crystal Brands of all of its outstanding license agreements covering the trademark "Evan Picone" and certain derivatives thereof.
 The total purchase price was $20 million in cash plus certain contingent future royalty payments.
 Sidney Kimmel, chairman, stated, "The `Evan Picone' name is one that is well respected in the community and has wide customer acceptance. It is our hope that this division will be a strong addition to the Jones product lines."
 Jones Apparel Group, Inc. is a leader in the better women's sportswear and suit businesses and sells under its flagship label Jones New York, as well as its Jones New York Sport, Jones & Co, Jones(asterisk)Wear, Rena Rowan for Saville, Saville, and Ellen Kaye labels and under the licensed name Christian Dior.
 /delval/
 -0- 8/17/93
 /CONTACT: Wesley R. Card, chief financial officer of Jones Apparel Group, 215-785-4000/
 (JNY)


CO: Jones Apparel Group, Inc.; Jones Investment Co., Inc.;
 Crystal Brands, Inc. ST: New York IN: TEX SU: TNM


MJ-CC -- PH033 -- 3762 08/17/93 17:33 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
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