FOR IMMEDIATE RELEASE

MOVIE STAR, INC. REPORTS FIRST QUARTER RESULTS

New York, NY – November 12, 1999 -- MOVIE STAR, INC. (ASE: MSI) today reported financial results for the first quarter ended September 30, 1999 (See Accompanying Table).

Sales for the first quarter ended September 30, 1999 rose slightly to $19,219,000 from $18,958,000 in the same period last year. The intimate apparel division was responsible for the increase, offset by reduced sales in the Company’s retail division. Net income declined to $837,000 or $.05 per diluted share as compared to last year’s first quarter net income of $1,183,0000 or $.08 per diluted share.

The decline in net income reflects reduced gross margins and higher selling, general and administrative expenses, offset somewhat by lower interest expense and a $114,000 gain on the purchase of approximately $2.8 million of the Company’s 12.875% Subordinated Debentures. The gross margin percentage decline was the result of several factors, including higher duty costs on imported merchandise, the elimination of excess inventory at discounted selling prices, and certain domestic manufacturing inefficiencies stemming from the transition of more production to offshore contractors. The increase in SG&A expense primarily reflects start-up costs associated with the development of the Company’s new Meant To Be and Flora Nikrooz Intimates product lines, without offsetting revenues.

Commenting, Mel Knigin, Movie Star’s President & Chief Executive Officer, stated, “Although intimate apparel and overall sales were modestly ahead of last year’s first quarter, we were disappointed that the increase wasn’t greater and that profits declined. Our plan to build sales levels in the second half of the fiscal year is still on track and we expect to achieve our goal of a respectable increase in sales for the current fiscal year as a whole. The expected increase will be due in part to our new product lines, Meant To Be and Flora Nikrooz Intimates. These lines have broadened the scope of the products we offer and, especially Meant To Be, give us additional products to offer for the spring and summer seasons.”

Mr. Knigin continued, “On the operations side, we will continue our plans to increase offshore production in locales where we can be assured of first-rate quality, timely deliveries and the best prices. While the execution of this plan caused a slippage in domestic production efficiency, this strategy should, in the long-term, help us achieve better gross margins. We are, however, very pleased by the substantial reduction in our inventory levels from a year ago, as evidenced by a decrease of approximately 28% to

Movie Star, Inc. News Release Page 2

November 12, 1999

$15,615,000 at the close of the current first quarter, from $21,611,000 one year earlier. Also, since the close of the first quarter, we purchased an additional $786,000 of our 12.875% Subordinated Debentures, which will result in a gain of approximately $40,000, net of related expenses, for the second quarter ending December 31, 1999. As a result of the purchases made in the first and second quarters, we will benefit from lower interest expense going forward and will have only $117,000 remaining on the mandatory sinking fund payment due October 1, 2000.”

MOVIE STAR, INC. produces and sells ladies sleepwear, robes, leisurewear, loungewear, panties and daywear and also operates 28 retail outlet stores.

Certain of the matters set forth in this press release are forward looking and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: business conditions and growth in the industry; general economic conditions; addition or loss of significant customers; the loss of key personnel; product development; competition; foreign government regulations; fluctuations in foreign exchange rates; rising costs for raw materials and the unavailability of sources of supply; the timing of orders booked; and the risk factors listed from time to time in the Company's SEC reports.

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CONTACT: INVESTOR RELATIONS COUNSEL:

Movie Star, Inc. -or- The Equity Group Inc.

Thomas Rende, CFO Linda Latman (212) 836-9609

(212) 684-3400 www.theequitygroup.com

(See Accompanying Tables)

Movie Star, Inc. News Release Page 3

November 12, 1999

MOVIE STAR, INC.

CONSOLIDATED CONDENSED STATEMENTS OF INCOME

(Unaudited)

(In Thousands, Except Per Share Amounts)

Three Months Ended

September 30,

1999 1998

Net Sales $ 19,219 $ 18,958

Cost of sales 13,909 13,301

Gross profit 5,310 5,657

Selling, general and administrative expenses 4,029 3,718

Income from operations 1,281 1,939

Gain on purchases of subordinated debentures (114) -

Interest income (18) (1)

Interest expense 559 733

Income before provision for income taxes 854 1,207

Provision for income taxes 17 24

Net income $ 837 $ 1,183

Basic net income per share $.06 $.08

Diluted net income per share $.05 $.08

Basic weighted average number of shares

outstanding 14,880 14,117

Diluted weighted average number of shares

outstanding 16,354 15,068

Movie Star, Inc. News Release Page 4

November 12, 1999

MOVIE STAR, INC. AND SUBSIDIARIES

BALANCE SHEETs

(In Thousands, Except Number of Shares)

ASSETS

9/30/99

6/30/99

Current Assets:
Cash	$ 670	$ 4,597
Receivables	13,205	6,864
Inventory	15,615	16,460
Deferred income taxes	1,983	1,983
Prepaid expenses and other current assets	435	602
Total current assets	31,908	30,506
Property, Plant And Equipment – Net	3,453	3,495
Other Assets	705	732
Deferred Income Taxes	2,026	2,026
TOTAL ASSETS	$38,092	$36,759

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:

Notes payable	$ 3,409	$ -
Current maturities of long-term debt and capital lease obligations	46	45
Accounts payable and accrued expenses	7,777	7,845
Total current liabilities	11,232	7,890
Long-Term Debt	17,857	20,703
Commitments And Contingencies	-	-
Stockholders’ Equity
Common stock	169	169
Additional paid-in capital	4,072	4,072
Retained earnings	8,380	7,543
	12,621	11,784
Less treasury stock, at cost	3,618	3,618
Total stockholders’ equity	9,003	8,166
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$38,092	$36,759