Exhibit 99.1
For immediate release
February 19, 2008
Crown Crafts CEO Terminates 10b5-1 Stock Trading Plan
Gonzales, Louisiana Crown Crafts, Inc. (NASDAQ-CM: CRWS) (the Company) announced today
that effective immediately, E. Randall Chestnut, the Companys President and Chief Executive
Officer, has terminated his prearranged stock trading plan. In conjunction with the termination,
the Company has purchased the remaining 141,520 shares available for sale under the plan at a price
of $3.65 per share, the closing price of the Companys stock on Friday, February 15, 2008, which
was the most recent trading day prior to the repurchase. Mr. Chestnut has agreed not to adopt
another trading plan for at least 18 months and will continue to be the Companys second largest
stockholder and beneficially own approximately 631,000 shares of the Companys outstanding common
stock.
The Board of Directors of the Company feels that it is in the Companys best interest to secure
these shares on terms that the Board believes to be favorable to the Company, commented Zenon S.
Nie, the Companys Lead Director.
Crown Crafts, Inc. designs, markets and distributes infant and juvenile consumer products,
including bedding, blankets, bibs, bath items and accessories. Its subsidiaries include Hamco,
Inc. in Louisiana and Crown Crafts Infant Products, Inc. in California. Crown Crafts is Americas
largest producer of infant bedding, bibs and bath items. The Companys products include licensed
and branded collections as well as exclusive private label programs for certain of its customers.
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Olivia Elliott
Secretary Treasurer
(225) 647-9124 |