Bassett Furniture Industries, Inc. [BSET] President and CEO and John Elway to Open The NASDAQ Stock Market

Market Wire, August, 2004

What:

Robert Spilman, President and Chief Executive Officer of Bassett Furniture Industries, Inc. (NASDAQ: BSET) and John Elway, Hall-of-Fame Quarterback will preside over the NASDAQ Market Open.

Where:

NASDAQ MarketSite -- 4 Times Square -- 43rd & Broadway -- Broadcast Studio

When:

Wednesday, August 11, 2004 at 9:30 a.m. EST

Why:

The NASDAQ Stock Market proudly welcomes Bassett Furniture Industries, Inc. [BSET], its CEO and President Robert Spilman and John Elway to the Market Open to celebrate The John Elway Home Collection, a new line of home entertainment and reclining furniture.

Fast Facts:

Founded: 1902
Headquarters: Bassett, Virginia
NASDAQ Listed since: December 1983
Ticker: BSET

Feed Information:

The market open ceremony is available from 9:20 a.m. to 9:35 a.m. on Galaxy 4R C/transponder 21. The downlink frequency is 4120 horizontal; audio: 6.2/6.8. The feed can also be found on Waterfront fiber 1623. If you have any questions, please contact the NASDAQ Traffic Department at (646) 441-5220.

About Bassett Furniture Industries, Inc. [BSET]:

Bassett Furniture Industries, Inc. is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With over 100 Bassett Furniture Direct stores, Bassett has leveraged its strong brand name in furniture into a growing network of licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. The most significant growth vehicle for Bassett continues to be the Company's dedicated retail store program, Bassett Furniture Direct. Bassett's retail strategy encompasses affordable furniture that is ready for delivery in the home within 30 days. The stores also feature the latest on-trend furniture styles, more than 1,000 upholstery fabrics, free in-home design visits, and coordinated decorating accessories. For more information, visit the Company's website at www.bassettfurniture.com.

Media Contacts: Bassett Furniture Industries, Inc. [BSET]: Jennifer Maguire 917.596.5136 jen@maguirepr.com NASDAQ MarketSite: Traffic Department 646.441.5220