ROW Rowe

MCLEAN, Va., Jan. 11 /PRNewswire-FirstCall/ -- The Rowe Companies (AMEX:ROW), a leading furniture manufacturer and retailer, today announced that effective January 9, 2006, Gene S. Morphis, its Chief Financial Officer, Secretary-Treasurer has left the Company. Garry W. Angle was promoted to Vice President-Treasurer and will serve as the Company's principal financial and accounting officer. Deborah C. Jacks was promoted to Secretary. "We want to thank Gene for his dedication and wish him the best in his future endeavors," said Gerald M. Birnbach, Chairman of the Board and President. Additional organizational changes include the following: Bruce M. Birnbach, who was serving as President of Rowe Furniture, Inc., has been named President of a newly-formed division, Rowe Sourcing, which will focus on the acquisition of vital raw materials and imported products. Gerald M. Birnbach, the Company's Chairman and President, will serve as President of Rowe Furniture, Inc. Timothy J. Fortune has been named Senior Vice President of Operations for Rowe Furniture, Inc. and will oversee human resources, information technology, finance, process improvement and manufacturing. Additionally, three consultants from The Carl Marks Advisory Group, LLC, which recently completed an organizational review of the Company, will assume full- time interim responsibilities with Rowe Furniture, Inc.: Edward Spinelli will serve as Interim Vice President of Manufacturing, Melvin Henson will serve as Interim Vice President of Finance and Tyler Montague will serve as Interim Process Improvement Manager. These interim officers will report to Mr. Fortune. The Rowe Companies operates two subsidiaries in the home furnishings industry: Rowe Furniture, Inc., a major manufacturer of quality upholstered furniture serving the middle and upper middle market throughout the U.S.; and Storehouse, Inc., a multi-channel, lifestyle home furnishings business including 69 retail home furnishings stores. Storehouse makes good design accessible by selling an edited assortment of casual, contemporary home furnishings through its stores located in the Southeast, Southwest and Mid- Atlantic markets, its catalog and over the internet. Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items; together with other statements that are not historical facts, are "forward-looking statements" as that term is defined under Federal Securities Laws. "Forward-looking statements" are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, industry cyclicality, fluctuations in customer demand and order patterns, the possibility that the capital raising conditions set forth in the Company's recently executed credit agreement with GE Commercial Finance will not be satisfied, in which case the Company would be, absent a waiver or amendment, in default under the credit agreement, the seasonal nature of the business, changes in pricing, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. CONTACT: Deborah C. Jacks, Secretary of The Rowe Companies, +1-540-444-5032. DATASOURCE: The Rowe Companies CONTACT: Deborah C. Jacks, Secretary of The Rowe Companies, +1-540-444-5032 Web site: http://www.therowecompanies.com/

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