Farooq Kathwari Estimates Quotations

We believe the current range of analyst estimates for the first quarter ended September 30, 2005 and for the fiscal year ended June 30, 2006, are reasonable and achievable.

We have continued to see positive trends in written business during the month of July and, as such, believe that the analysts' current range of estimates for the fiscal first quarter ended September 30, 2005, and the fiscal year ended June 30, 2006, are reasonable and achievable.