FOR IMMEDIATE RELEASE
May 02, 2001

Lila White
www.thedigitaldominion.com
(804) 692-3110


Harry Varn
Zenith Logistics, Inc
(540) 627-8864
Jill Lawrence
VEDP
(804) 371-0049
Governor Gilmore Announces 40 New Jobs for Henry County
-- Zenith Logistics LLC invests $1.2 million - -


London - During his European trade mission, Governor Jim Gilmore today announced that Zenith Logistics LLC will centralize its operations in a new distribution center in Henry County. Zenith Logistics, which specializes in warehousing, handling, and delivering furniture, provides direct distribution services for Bassett Furniture Industries Inc. Zenith will invest $1.2 million to locate in a 630,000-square-foot-building on Frith Drive in Ridgeway and should eventually employ approximately 70 people.

"This is a prime example of how strong relationships with existing Virginia businesses bring new companies to the Commonwealth," said Governor Gilmore. "Bassett Furniture opened its first plant in Virginia in 1902. Bassett's positive experience with Virginia's business climate and labor productivity over the last 99 years helped to attract Zenith Logistics to Virginia."

Zenith has been involved with distribution of Bassett products for more than 25 years and provides logistics services for Bassett facilities in Virginia, North Carolina and Georgia, as well as to Bassett Furniture's direct retail stores. Zenith receives, wraps and palletizes merchandise and ships it to retailers as needed.

"This distribution center will reduce shipping points for Bassett and allows us to consolidate product for faster service," said Harry Varn, general manager of Zenith Logistics.

"Shipping, warehousing, and logistics are crucial elements in Bassett's growth potential," said Rob Spilman, Bassett Furniture president and chief executive officer. "This new distribution center is a vitally important link in our drive to provide quality service to our customers."

Virginia successfully competed with North Carolina for this investment. The Virginia Economic Development Partnership, the Patrick Henry Development Council and Henry County assisted Zenith Logistics with its decision.

"We are pleased to see another business locating in Henry County," said Secretary of Commerce and Trade Barry E. DuVal. "Zenith Logistics' investment, and especially the jobs this operation will provide, will further aid the region in recovering from past downturns."

Bassett Furniture Industries, Inc. is one of the world's leading manufacturers and marketers of branded home furnishings. Its products, designed to provide quality, style, and value, are sold in more than 33 countries through Bassett Furniture Direct stores, At Home with Bassett merchandising systems, and other major furniture and department stores. Bassett's stock (BSET) is traded on the NASDAQ market. For more information on Bassett, visit the company's website at www.bassettfurniture.com.






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