Lechters Stock to Trade on OTC Bulletin Board or Over-The-Counter

Apr 16, 2001, 01:00 ET from Lechters, Inc.

    HARRISON, N.J., April 16 /PRNewswire/ -- Lechters, Inc., (Nasdaq:   LECH)
 today announced that its appeal to continue trading on the Nasdaq has been
 denied.  A Nasdaq Listing Qualifications Panel ruled that due to the current
 share price, the Company no longer meets the minimum bid price and the stock
 will be delisted today effective with the open of the business.
     The Company said it is focusing on the implementation of its recently
 announced strategic repositioning plan. When its stock is delisted from
 Nasdaq, the Company's stock will continue to be traded and is expected to
 trade either on the OTC Bulletin Board or over-the-counter.
 
     About Lechters
     Lechters, Inc. operates 241 stores under the Lechters name in 38 states
 and the District of Columbia, as well as 84 stores under the Famous Brands
 Housewares Outlet Store name.
 
 

SOURCE Lechters, Inc.
    HARRISON, N.J., April 16 /PRNewswire/ -- Lechters, Inc., (Nasdaq:   LECH)
 today announced that its appeal to continue trading on the Nasdaq has been
 denied.  A Nasdaq Listing Qualifications Panel ruled that due to the current
 share price, the Company no longer meets the minimum bid price and the stock
 will be delisted today effective with the open of the business.
     The Company said it is focusing on the implementation of its recently
 announced strategic repositioning plan. When its stock is delisted from
 Nasdaq, the Company's stock will continue to be traded and is expected to
 trade either on the OTC Bulletin Board or over-the-counter.
 
     About Lechters
     Lechters, Inc. operates 241 stores under the Lechters name in 38 states
 and the District of Columbia, as well as 84 stores under the Famous Brands
 Housewares Outlet Store name.
 
 SOURCE  Lechters, Inc.