Global, Venture Properties Complete Merger

May 27, 2005 -- Global Furniture, Incorporated, which markets solid wood furniture under the Heirloom Traditions brand has announced the completion of a merger with Venture Properties, Inc. Venture owns the 900,000 square foot former Singer facility in Trumann, Arkansas. Venture, which was jointly owned by Global President, Jack DeBonis, and Vice-President, James W. Jones, houses Global’s general office and distribution functions and has served as a service provider to Global since DeBonis and Jones acquired Global as majority owners in March of 2002.
    
Under the new structure, DeBonis and Jones have a majority interest in the combined entity while original Global founders, Richard Chapin and Jim Cundick retain a minority share. Commenting on the merger, Global President, Jack DeBonis, stated “The Venture
real estate, valued at $8.3 Million, makes a significant contribution to Global’s capital structure. The company is growing rapidly, and it is important that we maintain the
financial strength necessary to sustain our growth on into the future.”
    
The Board of Directors for the merged company will consist of DeBonis, Jones and Dick Chapin. Jim Cundick will continue to be involved as an advisor to the Board, and Mr. Chapin will continue to serve as the chief design consultant for the company.

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