Chromcraft Revington, Inc. Reports Acquisition of Cochrane Furniture Company, Inc

Business Wire, Nov 8, 1996

Delphi, IN and Lincolnton, NC--(BUSINESS WIRE)--November 8, 1996 --Chromcraft Revington, Inc. (NYSE:CRC) and Cochrane Furniture Company, Inc. announced that effective today Chromcraft Revington acquired Cochrane Furniture. The transaction is estimated to be valued at approximately $27 million which includes Cochrane's debt assumed in the merger. The outstanding shares of common stock of Cochrane were converted into the right to receive a cash payment of $4.75 per share.

Cochrane Furniture will operate as a wholly-owned subsidiary of Chromcraft Revington under the name Cochrane Furniture Company, Inc. Cochrane manufactures and sells dining room, bedroom and upholstered furniture with sales of $86 million for the fiscal year ended March 30, 1996.

Chromcraft Revington, with sales of $153 million for the year ended December 31, 1995, designs, manufactures and sells occasional, casual dining and commercial furniture throughout the United States under the "Peters-Revington," "Chromcraft" and "Silver Furniture" brand names.

CONTACT: Chromcraft Revington, Inc.

Frank T. Kane, 317/564-3500