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THE LEATHER FACTORY, INC. ANNOUNCES SIGNING OF LETTER OF INTENT

 FT. WORTH, Texas, Oct. 13 /PRNewswire/ -- The Leather Factory, Inc. (AMEX: TLF.EC) announced today the signing of a Letter of Intent to acquire Dunn Leather Company (DUNN) headquartered in Denver. The consummation of this acquisition is subject to the execution of a definitive agreement, which will contain the customary representations, warranties, covenants and conditions typically included in such agreements for similar transactions and the approval of the board of directors of the respective companies.
 Dunn Leather Company, founded in 1887, provides shoe repair materials to shoe repair shops and shoe retailers. Dunn distributes its products in 14 states primarily at the wholesale level from its 3 locations in Denver; Albuquerque, N.M.; and Wichita, Kan. The New Mexico and Kansas locations, in business for 30 and 90 years respectively, had been acquired by Dunn in recent years. Dunn had sales of approximately $4 million during its most recent fiscal year.
 Mr. Wray Thompson, chairman of the board, president, and chief executive officer of The Leather Factory, Inc. stated, "We are pleased to announce the signing of the Letter of Intent with Dunn Leather Company. This acquisition will increase our market share in the wholesale shoe care and shoe repair supply business and will result in some economies of scale. Another major benefit of this acquisition is that we will add some seasoned employees to our organization. The owners of Dunn, Glen and Mary Gilbertson, and several other key personnel will remain following the acquisition and will assume management positions with The Leather Factory, Inc. We look forward to their assistance as we continue to grow the business."
 TLF is an international wholesale distributor of a broad product line, including leather, leathercraft tools, buckles and other belt supplies, shoe care and repair supplies, leather dyes and finishes, adornments for belts, bags, and garments, saddle and tack hardware, and do-it-yourself kits. The Leather Factory, Inc. distributes its products through 16 distribution/sales units located throughout the country. TLF continues to be the fastest growing leather and leathercraft supply company in America, with sales growing from $12.7 million in 1991 to projected sales in excess of $25 million in 1993. The company's common stock trades on the American Stock Exchange's Emerging Company Marketplace under the ticker symbol, "TLF.EC."
 -0- 10/13/93
 /CONTACT: John Tittle, chief financial officer of The Leather Factory, Inc., 817-496-4414/


CO: The Leather Factory, Inc. ST: Texas, Colorado IN: SU:

WB-OS -- NY040 -- 1619 10/13/93 11:18 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
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