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Orchard Furniture (OFU)

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Wednesday 24 May, 2000

Orchard Furniture

Issue of Equity/ReDirectorate

Orchard Furniture PLC
24 May 2000

           Placing of 85,000,000 new ordinary shares at 1p per share
               
                                 Board changes                      

Orchard Furniture has today placed 85,000,000 new ordinary shares of 0.1p each,
raising £850,000 of new capital for the Company (before expenses.

Companies controlled by a trust of which Mark Wilsher, a director of the
Company, is a beneficiary have subscribed for 6,500,000 million ordinary shares
in the placing representing 0.34 per cent of the issued share capital of the
Company, which comprises his total interest in the Company.

Following completion of this placing, Orchard Furniture has raised over £13
million of new capital for the company since its shares resumed trading on AIM
in January this year.  This has put the Company in a sound financial position
for the future.  Accordingly Mr Hugh Gillespie who, as Chairman of the Company
from April 1999 to January 2000, steered it through its difficulties to a 
successful Company Voluntary Arrangement and refinancing, is taking the
opportunity to resign as a non-executive director of the Company with immediate
effect.

Enquiries:

Orchard Furniture Plc
Richard Armstrong, Director
Tel: 020 7448 4700

                                                                                                                                                                                                                                                  

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