Hanover Direct Announces Notice of Delisting From American Stock Exchange

Hanover Direct Announces Notice of Delisting From American Stock
Exchange 


EDGEWATER, N.J., Jan. 28  /PRNewswire-FirstCall/ -- Hanover Direct, Inc.
(AMEX:HNV) today announced that it had received a further letter from the
American Stock Exchange (the "Exchange") dated January 24, 2005 notifying it
that the Exchange has determined to proceed with the filing of an application
with the Securities and Exchange Commission (the "SEC") to strike the common
stock of the Company from listing and registration on the Exchange based on the
Company's failure to regain compliance with the Exchange's filing requirements
as set forth in Section 134 and 1101 of the Company Guide by December 31, 2004
and the fact that the Company is not in compliance with Sections 1003(a)(i),
1003(a)(ii) and 1003(a)(iii) of the Company Guide.

In accordance with Sections 1203 and 1009(d) of the Company Guide, the Company
has a limited right to appeal the Exchange's determination by requesting an
oral hearing or a hearing based on a written submission before a listing
qualifications panel who may only authorize the continued listing of the
Company's securities as permitted by Sections 1009 and 1204(c) of the Company
Guide.  The Company does not intend to submit such a request because, in
addition to its continued inability to file its Quarterly Report on Form 10-Q
for the fiscal quarter ended September 25, 2004 and inability to satisfy the
requirements for minimum stockholders' equity, the Company does not meet the
alternative financial standards set forth in Section 1003 of the Company Guide.
 As a result, the Exchange's decision will become final and the Exchange's
staff will submit an application to the SEC to strike the Company's common
stock from listing and registration on the Exchange in accordance with Section
12 of the Securities Exchange Act of 1934 and the rules promulgated thereunder
as early as February 2, 2005.  The Company is examining other available trading
alternatives for its common stock including the OTC Bulletin Board, the Pink
Sheets and the regional stock exchanges.

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, S.V.P. & Chief Financial Officer of Hanover

Direct Inc., [phone]; or Rich Tauberman of MWW Group, [phone],

for Hanover Direct Inc.



Web site:  http://www.hanoverdirect.com/

http://www.keystoneinternet.com/ 

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