HNV Hanover Direct

Hanover Direct, Inc. and Chelsey Direct, LLC Complete Recapitalization and Announce Election of Donald Hecht to the Board of Directors EDGEWATER, N.J., Dec. 1 /PRNewswire-FirstCall/ -- Hanover Direct, Inc. announced today that the Company and Chelsey Direct, LLC had completed, effective November 30, 2003, the recapitalization of the Company and the reconstitution of the Board of Directors contemplated by the Recapitalization Agreement executed on November 18, 2003. Immediately following the closing, Mr. Donald Hecht joined the Company's Board of Directors. Mr. Hecht has managed Hecht & Company, an accounting firm, since 1966. About Hanover Direct, Inc. Hanover Direct, Inc. (AMEX:HNV) and its business units provide quality, branded merchandise through a portfolio of catalogs and e-commerce platforms to consumers, as well as a comprehensive range of Internet, e-commerce, and fulfillment services to businesses. The Company's catalog and Internet portfolio of home fashions, apparel and gift brands include Domestications, The Company Store, Company Kids, Silhouettes, International Male, Scandia Down, and Gump's By Mail. The Company owns Gump's, a retail store based in San Francisco. Each brand can be accessed on the Internet individually by name. Keystone Internet Services, LLC (http://www.keystoneinternet.com/), the Company's third party fulfillment operation, also provides the logistical, IT and fulfillment needs of the Company's catalogs and web sites. Information on Hanover Direct, including each of its subsidiaries, can be accessed on the Internet at http://www.hanoverdirect.com/. DATASOURCE: Hanover Direct, Inc. CONTACT: Charles E. Blue, SVP & Chief Financial Officer of Hanover Direct, Inc., +1-201-272-3412; or Rich Tauberman of The MWW Group, +1-201-507-9500, for Hanover Direct, Inc. Web site: http://www.hanoverdirect.com/ http://www.keystoneinternet.com/

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