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NUTMEG STOCK SPLIT ANNOUNCED TODAY IS SECOND THIS YEAR

 NUTMEG STOCK SPLIT ANNOUNCED TODAY IS SECOND THIS YEAR
 TAMPA, Fla., April 27 /PRNewswire/ --- The board of directors of Nutmeg Industries, Inc. (NYSE: NTM) today approved a three-for-two split of the company's common stock, the second stock split this year. Richard E. Jacobson, Nutmeg chairman and chief executive officer, said that one additional share of common stock will be issued for every two shares held as of the record date. The additional shares will be distributed on June 1, 1992, to holders of record on May 15, 1992.
 Jacobson noted that an earlier three-for-two stock split had been declared by Nutmeg to holders of record on Jan. 6, 1992. He said the reason for the split announced today is the same as for the earlier split: to increase the number of shares available for trading "as one means of broadening the company's shareholder base."
 Nutmeg had about 12.3 million shares of common stock outstanding immediately prior to today's action and will have about 18.5 million shares outstanding after distribution of the additional shares.
 Jacobson said cash will be paid in lieu of fractional shares after the split. The cash amount paid for fractional shares will be based on the closing price of the stock on the record date, adjusted for the stock split.
 Nutmeg stock is traded on the New York Stock Exchange under the symbol NTM.
 Nutmeg designs, manufactures and markets high-quality sportswear. Nutmeg is licensed by the four major U.S. professional sports organizations; Major League Baseball, the National Basketball Association, the National Football League and the National Hockey League; most major colleges and universities, ABC Sports and other licensors to use team logos, names and other graphics on a wide variety of apparel.
 -0- 4/27/92
 /CONTACT: George N. Derhofer, senior vice president and Chief financial officer of Nutmeg Industries, Inc., 813-247-6044/
 (NTM) CO: Nutmeg Industries, Inc. ST: Florida IN: TEX SU:


JJ-JB -- FL014 -- 3081 04/27/92 11:19 EDT
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Publication:PR Newswire
Date:Apr 27, 1992
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