Friedman's Comments on NYSE Action SAVANNAH, Ga., May 12 /PRNewswire-FirstCall/ -- Friedman's Inc. today announced that it has been notified that the New York Stock Exchange (NYSE) has made a determination to delist the company's Class A Common Stock that traded under the ticker symbol FRM on the NYSE effective May 11, 2004. Friedman's is evaluating an appeal of the decision of the NYSE. The Company noted that while it is disappointed with the NYSE's decision, the delisting from the Exchange does not affect Friedman's day-to-day business operations. The Company also noted that although its common stock is not eligible for trading on the NASD over-the-counter bulletin board (OTC), the Company understands that market makers have independently begun to make a market in the company's common stock on the Pink Sheets under the symbol "FRDM." Friedman's Inc. is a leading specialty retailer of fine jewelry based in Savannah, Georgia. The Company is the leading operator of fine jewelry stores located in power strip centers. At April 12, 2004, Friedman's Inc. operated a total of 711 stores in 20 states, of which 224 were located in power strip centers and 487 were located in regional malls. DATASOURCE: Friedman's Inc. CONTACT: Jeremy Jacobs, Sharon Goldstein or Joele Frank, all of Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, for Friedman's Inc.

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