FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities
Exchange Act of 1934, Section 17(a)
of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
____ Check this box if no
longer subject to
Section 16. Form 4
or Form 5 obligations
may continue. See
Instruction 1(b).
1. Name and Address of Reporting Person
Noel Ronald R.
(Last) (First) (Middle)
NS Group, Inc.
9th and Lowell Streets
(Street)
Newport KY 41072
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
NS Group, Inc. (NSS)
3. IRS Identification Number of Reporting Person, if an
Entity (Voluntary)
4. Statement for Month/Year
7/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer
(Check all applicable)
X Director
X Officer (give title)Vice President
Other (specify)
7. Individual or Joint/Group Filing (Check applicable
line)
X Form filed by one Reporting Person
Form filed by more than one Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
1. Title of Security (Instr. 3)
a)Common Stock
b)Common stock
c)Common Stock
d)Common Stock
e)Common Stock
f)Common Stock
g)Common Stock
h)Common Stock
i)Common Stock
j)Common Stock
k)Common Stock
l)Common Stock
m)Common Stock
n)Common Stock
2. Transaction Date (Month/Day/Year)
a)7/17/98
b)7/17/98
c)7/17/98
d)7/17/98
e)7/17/98
f)7/17/98
g)7/17/98
h)7/17/98
i)7/17/98
j)7/20/98
k)7/29/98
3. Transaction Code (Instr. 8)
Code V
a)M
b)M
c)M
d)M
e)S
f)S
g)S
h)S
i)S
j)S
k)S
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
Amount (A) or (D) Price
a)7,500 shares A $7.40/share
b)5,850 shares A $3.75/share
c)5,368 shares A $7.25/share
d)20,500 shares A $4.375/share
e)1,568 shares D $9.50/share
f)10,000 shares D $9.375/share
g)500 shares D $9.3125/share
h)50,000 shares D $9.125/share
i)16,900 shares D $9.25/share
j)10,300 shares D $9.1875/share
k)46,400 shares D $8.50/share
5. Amount of Securities Beneficially Owned at End of
Month (Instr. 3 and 4)
l)1,000,000 Shares
m)25,000 Shares
n)1,102 Shares
6. Ownership Form: Direct (D) or Indirect (I)
(Inst4. 3 and 4)
l)D
m)I
n)I
7. Nature of Indirect Beneficial Ownership (Instr. 4)
m)By wife
n)By NS Group, Inc. Salaried Flexible Compensation
Plan Trust
Table II -- Derivative Securities Acquired, Disposed of,
or Beneficially Owned (e.g., puts, calls, warrants, options,
convertible securities)
1. Title of Derivative Security ( Instr.3)
a)Employee stock option (right to buy)
b)Employee stock option (right to buy)
c)Employee stock option (right to buy)
d)Employee stock option (right to buy)
2. Conversion or Exercise of Price of Derivative Security
a)$7.40
b)$3.75
c)$7.25
d)$4.375
3. Transaction Date (Month/Day/Year)
a)7/17/98
b)7/17/98
c)7/17/98
d)7/17/98
4. Transaction Code (Instr. 8)
a)M
b)M
c)M
d)M
5. Number of Derivative Securities Acquired (A) or
Disposed of (D) (Instr. 3,4, and 5)
a)7,500 D
b)5,850 D
c)5,368 D
d)20,500 D
6. Date Exercisable and Expiration Date
(Month/Day/Year)
Date Exercisable Expiration Date
a)Note 1 12/3/00
b)Note 1 2/18/03
c)Note 1 12/1/03
d)Note 2 3/1/05
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
Title Amount or Number of Shares
a)Common Stock 7,500 shares
b)Common Stock 5,850 shares
c)Common Stock 5,368 shares
d)Common Stock 20,500 shares
8. Price of Derivative Security (Instr. 5)
9. Number of Derivative Securities Beneficially
Owned at End of Month (Instr. 4)
a)0
b)3,900
c)8,052
d)0
10. Ownership Form of Derivative Security: Direct (D)
or Indirect (I) (Instr. 4)
a)-
b)D
c)D
d)-
11. Nature of Indirect Beneficial Ownership (Instr. 4)
/s/Ronald R. Noel August 7, 1998
Signature of Reporting Person Date
Explanation of Responses:
Note 1:Exercisable in annual increments of 20% beginning
three years after date of grant.
Note 2:Exercisable in annual increments of 33.333% beginning
one year after date of grant.
