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SHEFFIELD INDUSTRIES STOCK DELISTED FROM NASDAQ-NMS

 MIAMI, Jan. 7 /PRNewswire/ -- Sheffield Industries, Inc. (NASDAQ: HOSE) announced today that it has been notified that its stock will no longer be listed for trading on the NASDAQ National Market System as a result of not having current audited financial statements filed with regulatory authorities. The stock may continue to trade on the pink sheets, or electronic bulletin boards, upon application from its market makers and the filing of unaudited financial statements, which the company expects to release within ten (10) days. Management also stated that it will endeavor to apply for re-listing as soon as practicable.
 The company also announced that it is continuing negotiations to resolve disputes with its senior lender, Continental Bank N.A., with respect to the release of insurance proceeds it received as a result of losses attributable to Hurricane Andrew in August 1992 and an electrical surge which the company experienced in June 1992. The company had announced on Dec. 31, 1992 that it has received insurance proceeds in the amount of $1,489,000 which its senior lender has not released to the company.
 Sheffield Industries, Inc. manufactures and distributes ladies' and children's hosiery products and panty hose, knee-highs and tights under the "Fruit of the Loom" label, fashion oriented products under the "Chic" brand label program and private label products of which customers include K-Mart, Wal-Mart, J.C. Penney, Rite-Aid, F.W. Woolworth, Family Dollar, Payless Shoe Source, and Sears. Sheffield also markets T-shirts, sweatshirts and sweatpants under licenses from major colleges and universities and manufactures and markets "LeRoi" children's panty hose, tights and sleepwear.
 -0- 1/7/93
 /CONTACT: Mitchell A. Hammer, president of Sheffield Industries, 305-624-8493/
 (HOSE)


CO: Sheffield Industries, Inc. ST: Florida IN: TEX SU:

WB-TM -- NY096 -- 2829 01/07/93 17:05 EST
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Publication:PR Newswire
Date:Jan 7, 1993
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