EXHIBIT 99.1

FOR IMMEDIATE RELEASE:

                                          
                     STEINWAY ACQUIRES EUROPE'S LARGEST
                           PIANO KEY MANUFACTURER
                                          

WALTHAM, MA - January 4, 1999 - Steinway Musical Instruments, Inc. (NYSE: LVB)
today announced that it acquired Kluge, Europe's largest manufacturer of piano
keys, on December 28, 1998.  The purchase price was approximately 3 million
Deutsche marks.  Kluge, which has manufacturing facilities in Wuppertal, Germany
and Wilkow, Poland, generates annual revenues of over 6 million Deutsche marks. 
Mr. Hans-Georg Narath will maintain his position as managing director after the
acquisition.

Commenting on the acquisition, Dana D. Messina, Chief Executive Officer stated,
"The completion of this transaction is consistent with our strategy of acquiring
complementary businesses.  Kluge, with its consistent profitability and
reputation for excellence, fits our acquisition profile.  We look forward to a
smooth, successful integration of Kluge into our piano business."

Bruce A. Stevens, President of Steinway & Sons, added, "We are very excited
about this opportunity.  Kluge has produced the industry's finest piano keys
since 1876 and for virtually that entire period Steinway & Sons has been a major
customer.  Vertically integrating this acquisition will greatly improve our
manufacturing efficiency."

Steinway Musical Instruments, Inc. through its Steinway and Selmer subsidiaries
is one of the world's leading manufacturers of musical instruments.  Its notable
products include Steinway & Sons pianos, Selmer saxophones, Bach trumpets and
Ludwig drums.  Additional information can be obtained by visiting our web site:
www.steinwaymusical.com.

Contact:  Steinway Musical Instruments, Inc.
          Dennis M. Hanson
          Phone: (781) 894-9770
          E-mail:  ir@steinwaymusical.com