Stanley Furniture appoints Jeff Gilliam to the Board of Directors

– USA, NC – Stanley Furniture Company, Inc. (Nasdaq:STLY) announced today that it has reached an agreement with Hale Partnership Fund, LP and Talanta Fund, L.P. (collectively and with their affiliates, the “Hale-Talanta Group”) a shareholder group that collectively owns approximately 5.4% of the Company’s outstanding common stock and who had nominated two candidates for election to the Company’s Board of Directors at the 2015 Annual Stockholders meeting. Under the agreement, the Company appointed Jeffrey S. Gilliam to the Board effective immediately and the Hale-Talanta Group withdrew its nominations. With the addition of Mr. Gilliam, the Board has been expanded to six directors. Mr. Gilliam’s term as a director will end at the Company’s 2017 Annual Stockholders meeting.

“We are pleased to have reached an agreement with the Hale-Talanta Group and believe this is in the best interests of the Company and its shareholders,” said Glenn Prillaman, President and Chief Executive Officer. “We welcome Mr. Gilliam to the Board and expect to benefit from his business experience as we work together to continue the Company’s progress. Stanley expects to have a profitable year and we have momentum in our business,” concluded Prillaman.

Mr. Gilliam has been a director of the Finley Group, a corporate advisory firm, since 2012. From 2002 through 2012, Mr. Gilliam served as the Chief Financial Officer, and then President, of Toter, Incorporated (a division of Wastequip, LLC), a manufacturer of automated cart systems.

About Stanley Furniture Company, Inc.

Established in 1924, Stanley Furniture Company, Inc. is a leading design, marketing and sourcing resource in the upscale segment of the wood residential market. The Company offers a diversified product line supported by an overseas sourcing model. The Company distributes and markets its Stanley Furniture brand through a network of carefully chosen retailers and interior designers worldwide. The Company’s common stock is traded on the NASDAQ stock market under the symbol STLY.

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