Crown Crafts Reaches Agreement with the Wynnefield Group Regarding Director Nominations

Crown Crafts, Inc. CRWS today reported that it has reached an agreement with the Company's largest stockholder, Wynnefield Partners Small Cap Value, L.P. and certain of its affiliates, regarding the slate of directors to be nominated for election at the Company's 2011 annual meeting of stockholders, scheduled for Tuesday, August 9, 2011. Under the terms of the agreement, Patricia Stensrud will be included on the Company's slate of nominees for election as Class III directors. Joining Ms. Stensrud for election to the Board will be Dr. Donald Ratajczak, who has served on the Board since 2001. Pursuant to the agreement, the Wynnefield Group has agreed to discontinue its own proxy solicitation in connection with the annual meeting and vote its shares of the Company's common stock in favor of the Company's nominees. As part of the settlement, Joseph Kling, currently a Class III director whose term expires at the annual meeting, is not being re-nominated to the board.
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