Brown Jordan International Announces First Quarter Results.

Business Editors

POMPANO BEACH, Fla.--(BUSINESS WIRE)--May 13, 2003

Brown Jordan International, Inc. ("BJI"), the premier designer, manufacturer and marketer of fine luxury and contract furniture, announced today its first quarter 2003 results.

BJI reported net sales of $103.1 million for the three months ended March 28, 2003, compared to net sales of $124.9 million for the three months ended March 29, 2002. EBITDA, as defined in the table below, was $6.6 million for the three months ended March 28, 2003, compared to EBITDA of $14.5 million for same period of 2002.

The Company reported a net loss of $2.5 million compared to a net loss of $198.4 million for the same period of 2002. The loss for the three months ended March 28, 2002 includes an impairment transition adjustment of $201.2 million, net of tax, resulting from the Company's adoption of Statement of Financial Accounting Standards No. 142, "Goodwill and Other Intangible Assets."

Bruce R. Albertson, BJI's President and CEO, stated, "During the first quarter of 2003, we enhanced our utilization of technology, including the implementation of a web-based customer contact system, customer service call logging system and a new financial reporting software package. We feel that these steps will help us maximize future profitability and properly position ourselves in the market to capitalize on economic recovery. In addition, we have focused on increasing our penetration into the national accounts sector which will help produce positive results in future quarters.

"Our operating results reflect a decrease in sales in the retail channel, due primarily to unfavorable weather across most of the country during the quarter. Furthermore, the threat of the war with Iraq had an unfavorable impact on sales with our mid-market brands. The retail channel did, however, see an increase in sales with our high-end brand, Brown Jordan, experiencing a strong increase in orders over the same period of the prior year. Contract sales for the quarter were flat compared to the same period of the prior year.

"During the first quarter of 2003, we sold an office building in Birmingham, Alabama, reduced headcount and continued to reduce overhead and maximize cash flow through improved cash management. As a result of these actions, we were able to fund operations during the quarter on borrowings consistent with the prior year despite a decrease in operating income. Although we breached certain of our loan covenants as of December 31, 2002, during the first quarter of 2003 we reached an agreement with our senior lenders that resulted in waivers for these breaches and amended the covenants for the balance of 2003. We were in compliance with all of the amended covenants as of March 28, 2003. Overall, we are pleased with our performance this quarter and have a favorable outlook on upcoming months."

($000's)                                          Three Months Ended
                                                  -------------------
                                                  March 28,  March 29,
                                                    2003       2002

Net income                                        $(2,491)  $(198,371)
Interest expense                                    8,719       8,172
(Benefit from) provision for income taxes          (1,474)      1,867
Depreciation expense                                  929         920
Amortization expense                                  702         697
Loss on sale of assets                                177
Cumulative effect of change in accounting
 principle, net                                         -     201,247

                                                  --------  ----------
EBITDA (1)                                         $6,562     $14,532
                                                  ========  ==========

(1) EBITDA is defined as net income with interest expense, provision
(benefit) for income taxes, depreciation expense, amortization
expense and cumulative effect of change in accounting principle added
back.

About Brown Jordan International

Brown Jordan International, Inc., designs, manufactures and markets casual and contract furniture under the brand names Brown Jordan, Tommy Bahama, Pompeii, Winston, Vineyard, Atlantis, Stuart Clark, Casual Living, Loewenstein, Charter, Lodging by Charter, Woodsmiths, Wabash Valley, Texacraft, and Tropic Craft. Brown Jordan International's corporate office is located in Pompano Beach, Florida with offices and manufacturing facilities located throughout the United States.

Brown Jordan International, Inc. is an affiliate of Trivest Partners, L.P., a private investment firm, which is a leading provider of equity for middle market corporate acquisitions, recapitalizations and growth capital financings. Since its founding in 1981, Trivest has sponsored more than 115 acquisitions and recapitalizations, totaling approximately $2.0 billion in value. Trivest recently closed its third institutional investment fund, Trivest Fund III, L.P., with $316.1 million in total commitments. For more information, please visit http://www.trivest.com.

The Company's annual report on Form 10-Q is available on line at http://www.sec.gov under "Search for Company Filings."