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LHFI ANNOUNCES BUSINESS PARTNERSHIP WITH GUARDSMAN

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Levitz Home Furnishings Inc. (LHFI), holding company for Levitz Furniture and Seaman's Furniture, announces that it has signed a business partner agreement with Guardsman, a business unit of the Valspar Corporation (NYSE:VAL). As of May 1st, Seaman’s and Levitz have begun offering Guardsman Protection Programs for fabric, leather and mattress. LHFI’s decision to partner with Guardsman was primarily based on the Guardsman service capabilities. “We were able to see a solid infrastructure within Guardsman that is unmatched in the protection plan industry,” states David Holcomb, Assistant Vice President of Customer Relations at LHFI. “Guardsman has the experience and support of a qualified customer service staff to meet the challenging standards that were set by LHFI. Adding one more reason that customers will look to Seaman’s and Levitz as their retailer of choice.” Almost one century ago, Levitz began servicing customers in Lebanon, Pennsylvania. Continuing on their path of longevity, LHFI wanted to be sure that Guardsman shared their level of commitment to the industry. Guardsman’s proven history of being the premier provider in the furniture protection industry since the early 1950’s gave LHFI the assurance that Guardsman will be able to service their customers for years to come. Lastly, upper management in each company recognized that Guardsman and LHFI also share a common focus – dedication to their customers. Each company has strived to provide the highest levels of service and products in their respective industry. Marty Durkin, Director of Sales and Marketing for Guardsman summarizes that, “This partnership lays a foundation for a very exciting opportunity for both companies. Moving forward, each partner is going to see significant benefits from the expertise of the other.” About Guardsman Guardsman was founded in 1915 in Grand Rapids, Michigan, and has been a leader in the furniture protection industry ever since. Guardsman pioneered the development of retailer-applied fabric protection under the trade name Fabri-Coate® more than thirty years ago, and in the 1970s, began selling furniture protection plans in the United States, Canada, the United Kingdom and Australia. In 2000, Guardsman was acquired by The Valspar Corporation of Minneapolis, Minnesota. It was a strategic move that would bring higher market share, better service and stronger manufacturing capabilities to Guardsman’s customers. About Levitz Home Furnishings, Inc. New York-based Levitz Home Furnishings, Inc., operates more than 120 stores in 11 states under the Levitz Furniture, Seaman's Furniture, and Seamans's Kids brands. Furniture/Today magazine ranks Levitz Home Furnishings, Inc., third among the "Top 100 Furniture Stores."

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