Bassett Furniture Debuts New Showroom in High Point.

Business Editors

HIGH POINT, N.C.--(BUSINESS WIRE)--April 18, 2001

Full-scale prototypes of the company's Bassett Furniture Direct and At

Home with Bassett gallery retail programs will be in the showroom in

addition to Bassett University, a year round training center.

Bassett Furniture Industries, Inc. is returning to the International Home Furnishings Center in High Point, N.C., with top billing.

This market, the company is unveiling its new 80,000 square-foot showroom located on the recently constructed 12th floor of the IHFC Commerce Wing. The company is having a ribbon cutting at the showroom on Thursday, April 19, at 5 p.m., followed by the IHFC's 12th floor grand opening party.

"For several years, Bassett has transitioned from a traditional manufacturer to a vertically integrated supplier of brand home furnishings and this new showroom clearly communicates our vision," said Rob Spilman, Bassett Furniture president and chief executive officer. "The IHFC puts the largest manufacturers of furniture in the United States in one venue. The big players are here and the retail community knows the IHFC is a 'one stop shop' for the furniture industry."

When buyers walk through the front door of Bassett's new showroom, they will discover a full-scale 17,500 square-foot Bassett Furniture Direct (BFD) store prototype - Bassett's very own 'one stop shop' and the focal point of its vision. Buyers will also experience a 5,000 square-foot prototype of an At Home with Bassett gallery.

This market, two new innovative Bassett programs are being introduced; the Five Star Retailer program and Bassett University. Bassett's Five Star Retailer program is designed to give small independent mom-n-pop retailers an edge in an increasingly competitive retail environment. Through priority shipping, smart product selections, and improved service, smaller retailers can give their customers value-added service that helps them grow their business.

"Whether you are a large retailer or a small independent retailer, Bassett has a program to meet your needs," commented Mr. Spilman. "Inside our new showroom you'll see firsthand our commitment to stylish home furnishings, along with some of the most innovative ideas in furniture retailing today."

The showroom boasts a full retail training facility, including a computer classroom and a 150-seat auditorium, called Bassett University. The year-round University is designed to improve store performance, sales, traffic, closing rates, and more. Developed by the company's staff of highly skilled and experienced furniture professionals, this new program reflects Bassett's commitment to its retailers' success.

Buyers will also see areas of the showroom dedicated to collections and upholstery, including the new Bassett Tannery, a freestanding gallery showcasing the company's expanded leather offerings. Also, the showroom will feature a chair gallery, a mattress area, an accessory gallery and a cafeteria.

"When buyers stop by Bassett this market, they'll like what they see. Our new introductions were praised at pre-market for their style, innovation and value," said Mr. Spilman. "In addition, the company is improving production to offer quick-ship programs on our best sellers while ensuring on-time deliveries for our product. This new showroom and the retail programs we are offering are prime examples of how we're continuing to invest in a brand name that people have trusted for nearly 100 years."

Bassett Furniture Direct stores feature all Bassett's wood and upholstered furniture lines in highly accessorized room-like setting designed to inspire home decorating ideas. The company has opened 59 stores with plans to open 12 to 15 more each year. As an extension of the BFD, the At Home with Bassett gallery program gives the company a significant presence in markets not large enough to support a BFD store, while it provides independent retailers with a heavily promoted and well-recognized brand.

Bassett Furniture Industries, Inc. is one of the world's largest manufacturers and marketers of home furnishings. The products, designed to provide quality, style, and value, are sold through Bassett Furniture Direct stores, At Home with Bassett merchandising systems, and other furniture and department stores. Bassett's stock (BSET) is traded on the NASDAQ market.