Bassett Declares Dividend

BASSETT, Va., July 18, 2008 (PRIME NEWSWIRE) -- Bassett Furniture Industries Inc. announced today that its Board of Directors has declared a regular quarterly dividend of $.225 per share payable on September 2, 2008, to shareholders of record on August 15, 2008.

Bassett Furniture Industries, Inc. is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With more than 120 Bassett Furniture Stores, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly and professional environment for buying furniture and accessories. The most significant growth vehicle for Bassett continues to be the Company's dedicated retail store program. Bassett's retail strategy encompasses affordable custom-built furniture that is ready for delivery in the home within 30 days. The stores also feature the latest on-trend furniture styles, more than 800 upholstery fabrics, free in-home design visits, and coordinated decorating accessories. For more information, visit the Company's website at www.bassettfurniture.com.

(BSET-E)

CONTACT:  Bassett Furniture Industries, Inc.
          Investors
          Barry Safrit, SVP, Finance
            (276) 629-6757
          Media 
          Jay S. Moore, Dir. of Communications
            (336) 389-5513

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