Biscayne: To Suspend Debt Interest Payment FOR IMMEDIATE RELEASE FOR MORE INFORMATION CONTACT: Peter Vandenberg, Jr. President and Chief Operating Officer (973) 473-3240 BISCAYNE APPAREL TO SUSPEND SUBORDINATED DEBT INTEREST PAYMENT CLIFTON, NJ - (December 14, 1998) Biscayne Apparel, Inc. (NASDAQ OTC Bulletin: BISD) ("Company") will not make the interest payment due on December 15, 1998 on the 13% Subordinated Notes due December 15, 1999 (the "Subordinated Notes"). Pursuant to the Indenture for the Subordinated Notes, the Company's non-payment of interest will become an Event of Default if the non-payment continues for a period of 30 days. If an Event of Default occurs and is continuing, the Trustee by notice to the Company, or the holders of a majority in principal amount of the Securities then outstanding by notice to the Company and the Trustee, may declare to be due and payable immediately on all outstanding Subordinated Notes an amount equal to the sum of the outstanding principal balance of the Subordinated Notes and any accrued interest. If the Subordinated Notes, and accrued interest thereon, were accelerated and the Company was not able to secure alternative financing, the Company would consider a range of alternatives, including the commencement of a proceeding under Chapter 11 of the Bankruptcy Code. Biscayne Apparel, Inc. is a designer, manufacturer, and importer of infant's, toddler's, and children's outerwear and sportswear through its M&L International, Inc. subsidiary. Additional information is available on the Internet at http://www.cfonews.com/bha ###