Article: Rocky Mount Undergarment Co. Inc. announce letter of intent for sale of Rocky Mount Ladies and Children's Underwear Division.

ROCKY MOUNT UNDERGARMENT CO., INC. ANNOUNCES LETTER OF INTENT

FOR SALE OF ROCKY MOUNT LADIES AND CHILDREN'S UNDERWEAR DIVISION

ROCKY MOUNT, N.C., Nov. 10 /PRNewswire/ -- Rocky Mount Undergarment Co., Inc. (NASDAQ-NMS: RMUC) announced that it has signed a Letter of Intent with Biscayne Apparel, Inc., a wholly-owned subsidiary of Biscayne Holdings, Inc., (AMEX: BHA) for the sale of substantially all of the assets and operations of Rocky Mount's Ladies' and Childrens' Underwear Division. The purchase price will be the sum of $1,000,000 plus an amount equal to the net book value of assets purchased (estimated to be approximately $8.5 million), less ...

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