HRVED Harvey Electronics (MM)

Harvey Electronics, Inc. (�Harvey Electronics�, �Harvey� or the �Company�; NASDAQ Capital Market symbol: �HRVED�), a leading retailer and custom installer of high quality, exclusive home theater, audio and video products in the metropolitan New York area, today announced that on December 1, 2006, the Company received a determination from a Nasdaq Listing Qualification Panel (the �Panel�) granting its request for continued listing on The Nasdaq Capital Market. The Panel�s determination cited the Company�s demonstration of full compliance with all Nasdaq Marketplace Rules. Martin McClanan, Interim Chief Executive, stated, �With the successful simultaneous conclusion of the $4.0 million equity infusion led by Trinity Investment Partners, and the reverse stock split of our common stock, we have exceeded all NASDAQ listing requirements. As a result, we are extremely pleased to be in compliance with all NASDAQ Marketplace Rules and now look forward to improving shareholder value by reinvigorating our stores, revitalizing our marketing efforts and increasing our comparable store sales results, ultimately striving to improve our overall net operating results.� Harvey Electronics is a leading retailer and custom installer of high quality, exclusive home theater, audio and video products in the metropolitan New York area. The Company currently operates a total of nine locations; eight Harvey showrooms and one separate Bang & Olufsen branded store. There are two Harvey locations in Manhattan and six suburban locations in Paramus, New Jersey; Mt. Kisco, in Westchester; Greenwich, Connecticut; Greenvale/Roslyn, on the north shore of Long Island, in Eatontown, New Jersey and our newest store in Bridgewater, New Jersey. The Bang & Olufsen branded store is located in Union Square on 927 Broadway at 21st Street, in Manhattan. The Company also has a Bang & Olufsen showroom within our Harvey retail store in Greenwich, Connecticut. Audio Video International, a well-respected trade publication, had named Harvey Electronics a national �Top Ten Retailer of the Year�, seven years in a row. Please visit a Harvey store or one of our Bang & Olufsen showrooms. Also, please inquire about Harvey�s custom installation services. From time to time, information provided by the Company, statements made by its employees or information, included in its filings with the Securities and Exchange Commission may contain statements, which are so-called �forward-looking statements� and not historical facts. Forward-looking statements can be identified by the use of words such as �believe�, �expect�, �intend�, �anticipate�, �in my opinion�, and similar words or variations. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company�s actual future results may differ significantly from those stated in any forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including, but not limited to, product demand, pricing, market acceptance, litigation, risks in product and technology development and other risk factors detailed in the Company�s Prospectus dated March 31, 1998 and from time to time in the Company�s Securities and Exchange Commission reports including its Form 10-K and Forms 10-Q. For more information and showroom locations, visit our website at www.harveyonline.com.