                                                        EXHIBIT 99.1

                               NASDAQ SYMBOL: HAMP
   CONTACT: CHARLES W. CLAYTON ~ PHONE: (864) 225-6232 ~ FAX: (864) 231-1215

         Hampshire Group Announces 2003 Year and Fourth Quarter Results

ANDERSON,  S.C., March 4,  2004...Hampshire  Group, Limited announced today that
net income from  continuing  operations for the year ended December 31, 2003 was
$11,423,000,  or $2.43 per diluted share compared with $18,541,000, or $3.84 per
diluted  share in 2002.  Net sales  were  $292,651,000  in 2003,  compared  with
$293,268,000 reported for the prior year.

Hampshire Group, Limited sold its investment subsidiary,  Hampshire Investments,
Limited,  on October  8,  2003,  after the Board of  Directors  determined  that
shareholder  value  would be  enhanced  by  concentrating  solely on the apparel
business.  Results of the  investment  business are  reported as a  discontinued
operation in the Company's financial statements.  In 2003, net income, including
$637,000 income of the discontinued  operation and after a loss of $6,433,000 on
the sale of the  discontinued  operation,  was $5,627,000,  or $1.20 per diluted
share.  These  results  compare  with net  income of  $17,048,000,  or $3.53 per
diluted share in 2002.

In the  fourth  quarter  of 2003,  net sales  were  $112,487,000  compared  with
$109,739,000  in the prior year, and net income from  continuing  operations was
$6,795,000,  or $1.60 per diluted share compared with  $9,088,000,  or $1.88 per
diluted share for the fourth quarter 2002.

The Company  said that results in 2003 were  affected by the highly  competitive
conditions that continue to prevail in the retail apparel market. In the women's
sweater business,  both sales and earnings increased despite strong competition,
but  reduced  gross  margins in men's  sweaters  and women's  related  separates
resulted  in a decline in  earnings.  The  Company  said it  expects  margins to
continue to be under pressure through 2004.

Commenting on results,  Ludwig Kuttner,  Chairman and Chief Executive Officer of
Hampshire  Group said,  "It should be noted that although the financial  results
for 2003 were less than those for 2002, the 2003 results have only been exceeded
by the Company in two other fiscal years. In 2003, we continued to invest in our
future by  strengthening  our supplier  network and by continuing our efforts to
exceed the expectations of our customers for quality, service and value."

Hampshire Group,  Limited is a diversified  apparel company,  believed to be the
largest  supplier of sweaters in North America and a leading supplier of related
separates.
------------------------------------------------------------------------------
          "Cautionary Disclosure Regarding Forward-Looking Statements"

This press release contains forward-looking statements within the meaning of the
Private  Securities  Litigation  Reform Act of 1995 that  reflect the  Company's
current  views with respect to future  events.  Such  statements  are subject to
certain  risks and  uncertainties  which  could cause  actual  results to differ
materially from those set forth or implied by such  forward-looking  statements.
Readers  are  cautioned  not to place undue  reliance  on these  forward-looking
statements  which speak only as of the date hereof.  The Company  undertakes  no
obligation to republish revised forward-looking  statements to reflect events or
circumstances   after  the  date  hereof  or  to  reflect  the   occurrences  of
unanticipated  events.  Readers are also urged to carefully  review and consider
the  various  disclosures  made  by the  Company  in its  Form  10-K  and  other
Securities and Exchange  Commission  filings which attempt to advise  interested
parties of the factors which affect the Company's business.
<PAGE>
<TABLE>

HAMPSHIRE GROUP, LIMITED
COMPARATIVE SUMMARY OF EARNINGS
(In thousands, except per share data)
<CAPTION>

                                               December 31,      December 31,
YEAR ENDED                                        2003               2002
------------------------------------------------------------------------------
<S>                                             <C>               <C>
Net sales                                       $292,651          $293,268
                                                ========          ========

Net income from continuing operations            $11,423           $18,541
                                                 =======           =======

Net income                                        $5,627           $17,048
                                                  ======           =======

Net income per share from     Basic                $2.50             $3.94
                                                   =====             =====
     continuing operations:   Diluted              $2.43             $3.84
                                                   =====             =====

Net income                    Basic                $1.23             $3.62
                                                   =====             =====
                              Diluted              $1.20             $3.53
                                                   =====             =====

Weighted average number
    of shares outstanding:    Basic                4,573             4,711
                                                   =====             =====
                              Diluted              4,696             4,834
                                                   =====             =====


                                                December 31,      December 31,
QUARTER ENDED                                       2003             2002
-------------------------------------------------------------------------------
Net sales                                       $112,487         $109,739
                                                ========         ========

Net income from continuing operations             $6,795           $9,088
                                                  ======           ======

Net income                                        $6,342           $7,442
                                                  ======           ======

Net income per share from        Basic             $1.64            $1.93
                                                   =====            =====
     continuing operations:      Diluted           $1.60            $1.88
                                                   =====            =====

Net income                       Basic             $1.53            $1.58
                                                   =====            =====
                                 Diluted           $1.49            $1.54
                                                   =====            =====

Weighted average number
    of shares outstanding:       Basic             4,146            4,718
                                                   =====            =====
                                 Diluted           4,249            4,835
                                                   =====            =====
</TABLE>

