Jennifer Convertibles Regains Compliance With Amex Listing Requirements

Furniture World News

Jennifer Convertibles, Inc. announced that it has received a letter from the American Stock Exchange ("Amex") dated December 5, 2006 informing the Company that based upon the Company's filing of its Form 10K for the fiscal year ended August 26,2006, the Company has resolved the continued listing deficiencies referenced in the Amex letter dated January 5, 2006. However, pursuant to Section 1099(f) of the Amex Company Guide, the Company's Plan Period will remain open until it has been able to demonstrate compliance with the continued listing standards for two consecutive quarters or by the end of the Plan Period, July 5, 2007. Harley J. Greenfield, Chief Executive Officer of Jennifer said, "We are pleased to have achieved compliance with the Amex requirements one quarter ahead of our initial plan and intend to continue to meet these requirements in the future." Jennifer Convertibles is the owner and licensor of the largest group of sofabed specialty retail stores in the United States, with 172 Jennifer Convertibles stores and is the largest specialty retailer of leather furniture with 16 Jennifer Leather stores. As of December 7, 2006, the Company owned 164 stores and licensed 24 stores. Of the 24 stores, 23 are owned and operated by a related private company and one is managed by the private company.