Conn's, Inc. Announces Rescheduled Earnings Release and Filing Dates

Business Wire, Sept 8, 2006

BEAUMONT, Texas -- Conn's, Inc. (NASDAQ/NM:CONN), a specialty retailer of home appliances, consumer electronics, computers, mattresses, furniture and lawn and garden products, today announced that earnings for the quarter and six months ended July 31, 2006, will be released sometime on or before September 18, 2006, pending the completion of its internal review of its accounting for its interest in securitized assets. Additionally, the Company will reschedule its conference call until after its final earnings are released.

As previously announced, the Company continues to believe that such assets may be understated by as much as $15 million. Upon completion of its review, the Company will restate its financial statements for prior years and the first quarter of this year.

Additionally, the Company filed today an item under 4.02(a) on Form 8-K with the Securities and Exchange Commission stating that its prior financials should not be relied upon. The Company's Audit Committee concluded today, based upon the recommendation of Company's management in consultation with its independent accountants, that financial statements of the Company included in its Annual Report on Form 10-K for the fiscal years ended January 31, 2006, 2005, and 2004, Quarterly Reports on Form 10-Q for the quarterly periods filed with respect to each of those fiscal years, and its Quarterly Report on Form 10-Q for the quarter ended April 30, 2006 should no longer be relied upon.

The Company expects to have its review and any resulting restatements completed within the timeframe required by the Securities and Exchange Commission for the filing of the Company's quarterly statements, with extension as provided for under the Securities and Exchange Commission rules, but cannot give assurance that such dates will be met. The Company will release its earnings for the quarter and six months ended July 31, 2006 prior to its filing of Form 10-Q. The Company will amend and refile its annual report on Form 10-K/A for the fiscal year ended January 31, 2006, and its quarterly report on Form 10-Q/A for the quarter ended April 30, 2006.

About Conn's, Inc.

The Company is a specialty retailer currently operating 58 retail locations in Texas and Louisiana: twenty stores in the Houston area, twelve in the Dallas/Fort Worth Metroplex, eight in San Antonio, five in Austin, four in Southeast Texas, one in Corpus Christi, two in South Texas and six stores in Louisiana. It sells major home appliances, including refrigerators, freezers, washers, dryers and ranges, and a variety of consumer electronics, including projection, plasma, DLP and LCD televisions, camcorders, computers and computer peripherals, DVD players, portable audio and home theater products. The Company also sells lawn and garden products, furniture and mattresses, and continues to introduce additional product categories for the home to help respond to its customers' product needs and to increase same store sales.

This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "should," "anticipate," or "believe," or the negative thereof or variations thereon or similar terminology. Although the Company believes that the expectations reflected in such forward-looking statements will prove to be correct, the Company can give no assurance that such expectations will prove to be correct. The actual future performance of the Company could differ materially from such statements. Factors that could cause or contribute to such differences include, but are not limited to: the completion of internal review of its accounting for its interest in securitized assets; the Company's growth strategy and plans regarding opening new stores and entering new markets; the Company's intention to update or expand existing stores; the Company's estimated capital expenditures and costs related to the opening of new stores or the update or expansion of existing stores; the Company's cash flow from operations, borrowings from its revolving line of credit and proceeds from securitizations to fund operations, debt repayment and expansion; growth trends and projected sales in the home appliance and consumer electronics industry and the Company's ability to capitalize on such growth; relationships with the Company's key suppliers; the results of the Company's litigation; interest rates; weather conditions in the Company's markets; changes in the Company's stock price; and the actual number of shares of common stock outstanding. Further information on these risk factors is included in the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K filed on March 30, 2006 and the current report on Form 8-K filed in connection with this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.