James B. Nicholson Elected Chairman of the Board of Handleman Company

TROY, Mich., Dec. 5  /PRNewswire-FirstCall/ -- Handleman Company (NYSE:HDL), http://www.handleman.com/, today announced that its Board of Directors has elected James B. Nicholson non-executive Chairman of the Board of Handleman Company.  Mr. Nicholson has been a Director of the Company since 1991, and most recently its Presiding Director.

Mr. Nicholson is currently President, Chief Executive Officer and Director of PVS Chemicals, Inc. (PVS).  PVS manufactures, markets and distributes chemicals for water treatment and industrial use.  Mr. Nicholson joined PVS in 1977 and became President in 1979.  He has served as its Chief Executive Officer since that date.  Mr. Nicholson holds an undergraduate degree in Economics from Stanford University, an MBA degree from the University of Chicago and an MS degree in Economics from the London (England) School of Economics.  Mr. Nicholson is also Chairman of the Board of Amerisure Companies, a mutual insurance organization.

Albert A. Koch, who recently joined Handleman as President and Chief Executive Officer, said, "Jim is an experienced and successful business leader who has in-depth knowledge of Handleman Company.  These skills are critical as we initiate change at the Company with the goal of returning it to profitability.  I look forward to working closely with Jim and the other members of the Board as our management team seeks to accomplish this goal."

About Handleman Company

Handleman Company is a category manager and distributor of prerecorded music and console video game hardware, software and accessories to leading retailers in the United States, United Kingdom, and Canada.  As a category manager, the Company manages a broad assortment of titles to optimize sales and inventory productivity in retail stores.  Services offered include product selection, direct-to-store shipments, marketing and in-store merchandising. 

DATASOURCE: Handleman Company



CONTACT:  Thomas Braum, Executive Vice President and CFO, [phone]

Ext. 718, or Greg Mize, Vice President of Investor Relations and Treasurer,

[phone] Ext. 211, both of Handleman Company



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

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