REAL SILK INVESTMENTS, INC.
                445 North Pennsylvania Street
                          Suite 500
                 Indianapolis, Indiana  46204


                        PRESS RELEASE


                      December 13, 1999

      The Board of  Directors today declared a Dividend of $5.04  per share,
on Common Stock, payable December 27, 1999, to shareholders of record
December 13, 1999.

      The Board of Directors also determined to retain long term capital
gains and declared a deemed distribution of net realized capital gains of
$126.39 per share, to shareholders of record December 13, 1999.








                                REAL SILK INVESTMENTS, INC.



                                Lorretta A. Cox
                                Secretary



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