Exhibit 99.1








N E W
S   R E L E A S E





FOR
IMMEDIATE
RELEASE:                                                                           Stanley
Furniture Company, Inc.


April 17,
2008                                                                                   Investor
Contact:  Douglas I. Payne


(276) 627-2157


Media
Contact:      Robin Campbell


(276)
627-2245











STANLEY
FURNITURE BOARD DECLARES


QUARTERLY
CASH DIVIDEND AND ELECTS CHAIRMAN








STANLEYTOWN,
VA, April 17, 2008/Business Wire/ – Stanley Furniture Company, Inc.
(Nasdaq-NGS:STLY) announced today that its Board of Directors has declared a
regular quarterly cash dividend of $.10 per share payable on June 2, 2008 to
shareholders of record on May 9, 2008.





The
company also announced that its Board of Directors has elected Albert L.
Prillaman as Chairman to focus on strategic issues.  “The Board and I
asked Albert to return to his role as Chairman to take a more active role in
strategic matters given the uncertainties facing the furniture industry in the
current business environment,” said Jeffrey R. Scheffer, President and Chief
Executive Officer. “We believe tapping Albert’s talent and experience in these
turbulent times for the industry will strengthen the company and better position
us for the eventual upturn in business,” concluded Mr. Scheffer.





Established
in 1924, Stanley Furniture Company, Inc. is a leading manufacturer of wood
furniture targeted at the upper-medium price range of the residential
market.  Its common stock is traded on the Nasdaq stock market under
the symbol STLY.





Certain
statements made in this report are not based on historical facts, but are
forward-looking statements.  These statements can be identified by the
use of forward-looking terminology such as “believes,” “estimates,” “expects,”
“may,” “will,” “should,” or “anticipates,” or the negative thereof or other
variations thereon or comparable terminology, or by discussions of
strategy.  These statements reflect our reasonable judgment with
respect to future events and are subject to risks and uncertainties that could
cause actual results to differ materially from those in the forward-looking
statements.  Such risks and uncertainties include the cyclical nature
of the furniture industry, disruptions in offshore sourcing including those
arising from supply or distribution disruptions or those arising from changes in
political, economic and social conditions, as well as laws and regulations, in
China or other countries from which we source products, international trade
policies of the United States and countries from which we source products,
business failures or loss of large customers, manufacturing realignment,
competition in the furniture industry including competition from lower-cost
foreign manufacturers, the inability to obtain sufficient quantities of quality
raw materials in a timely manner, the inability to raise prices in response to
inflation and increasing costs, failure to anticipate or respond to changes in
consumer tastes and fashions in a timely manner, environmental compliance costs,
and extended business interruption at manufacturing facilities.  Any
forward-looking statement speaks only as of the date of this press release, and
we undertake no obligation to update or revise any forward-looking statements,
whether as a result of new developments or otherwise.





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