Bassett Furniture Industries
May 3, 2007
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Bassett Declares Dividend

BASSETT, Va., May 3, 2007 (PrimeNewswire via COMTEX News Network) -- Bassett Furniture Industries Inc. (Nasdaq:BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $.20 per share payable on June 1, 2007, to shareholders of record on May 16, 2007.

Bassett Furniture Industries, Inc. is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With more than 130 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 and professional environment for buying furniture and accessories. While the Company continues to sell its products to other retailers, the most significant growth vehicle for Bassett continues to be the Company's dedicated retail store program. Bassett's retail strategy encompasses affordable custom-built 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.

(BSET-E)

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SOURCE: Bassett Furniture

Bassett Furniture Industries, Inc.
          Barry Safrit, SVP, Finance
            Investors:  (276) 629-6757 
            Fax:  (276) 629-6332
          Jay S. Moore, Dir. of Communications
             Media:  (276) 629-6450
             Fax:  (276) 629-6418

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