WinsLoew Furniture Announces Record Second Quarter
Operating Results and Stock Repurchase Program

Pelham, AL -- WinsLoew Furniture, Inc., recently announced record operating results for its second quarter ended June 26, 1996. The second quarter operating results included net sales of $43.9 million, compared to $44.4 million in the second quarter of 1995. Net income increased 51% from $2.4 million, or $0.27 per share in the second quarter of 1995 to $3.6 million, or $0.40 per share in the same period of 1996. At quarter-end, June 28, 1996, the Company's sales backlog was $16.3 million, compared to $14.8 million at June 30, 1995.

Net sales in the first half of 1996 were $74.9 million versus $73.8 million in the same period of 1995. Income, before extraordinary items, in the first six months of 1996 increased 85% from $2.0 million, or $0.22 per share, in the first six months of 1995 to $3.7 million, or $0.41 per share, in the same period in 1996. WinsLoew reported an extraordinary item of $593,000, net of taxes, or $0.07 per share, in the first quarter of 1995, related to the write-off of deferred loan costs from the refinancing of its loan facilities.

WinsLoew's gross margin increased from 30.5% in the second quarter of 1995 to 35.7% in the same period of 1996. This represented an improvement in gross profit of $2.1 million, or 15.8% and an increase in each of the Company's four product lines. The Company has benefited from production efficiencies and reduced raw material costs.

Bobby Tesney, President and Chief Executive Officer of WinsLoew Furniture, commented, "We are very pleased to report record operating results for WinsLoew's second quarter. The quarter featured a 20% sales increase in contract seating caused by strong growth in lodging construction and a 5% sales increase in casual furniture due to increased demand from existing retail customers. We believe that our efforts will provide the basis for continued growth and expanded profitability for the balance of the year."

WinsLoew Furniture, Inc., designs, manufactures, and distributes aluminum and wrought iron casual furniture; contract seating for the hospitality and office furniture markets; futons, futon frames, and accessories; and ready-to-assemble spindle and flatline furniture and ergonomically-designed computer workstations, modular systems, and accessories.

FAI Satellite Media Tour Update

A national satellite media tour took place on October 3, 1996. The tour was booked on more than twenty television stations and featured a "Can Do Home" room makeover segment produced by Association PR firm, Shandwick USA and Katlean de Monchy, Inc. The event featured several futon products in a room setting with several other national brands.