WEEHAWKEN, NJ, July 2, 1999 - Hanover Direct, Inc (AMEX: HNV) announced today the retention of Bear Stearns as corporate financial advisors for the Company.

In connection with Hanover's previously announced digital realignment of the Company into the Brands Marketing and Web Services divisions, Hanover has retained Bear Stearns to provide advisory services on strategic alliances which can accelerate company plans to become a leader in e-commerce.

The Board has given Bear Stearns broad discretion to explore a range of strategic and financial opportunities at the Web Services, Brands Marketing or Hanover Direct shareholder levels.

Hanover Direct, Inc. (AMEX: HNV), and its business units, provide quality, branded merchandise through a portfolio of catalogs and e-commerce platforms to consumers, as well as a comprehensive range of Internet, e-commerce, and fulfillment services to businesses. The brand marketing division is comprised of the Company's catalog and e-commerce web site portfolio of home fashions, apparel and gift brands, including Domestications, The Company Store, Colonial Garden Kitchens, Kitchen & Home, Improvements, The Safety Zone, Silhouettes, Tweeds, International Male, Austad's, Undergear, and Gump's By Mail. The Company also owns Gump's, a retail store based in San Francisco. Each brand can be accessed on the Internet individually by name. The web services division is comprised of the Company's Internet marketing services group, systems platform, fulfillment and telemarketing and third party fulfillment service vendor, Keystone Fulfillment Inc. (www.keystonefulfillment.com). Information on Hanover Direct, including each of its divisions, can be accessed on the Internet at www.hanoverdirect.com.

CONTACT:
AGG International, Public Relations
Paula Zwerdling
Managing Director
(212) 869-8230

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