Tandy Brands Accessories Announces New Financing Agreement

Tandy Brands Accessories Inc. (Nasdaq:TBAC) announced today that it has a signed an amendment to its line-of-credit financing facility with Comerica Bank. The new facility is a revolving line-of-credit that provides financing of up to $27.5 million, with a term of 18 months, running through April 2011. The interest rate is approximately 100 basis points below the previous line of credit.

“This new financing will be more than sufficient to meet our near-term seasonal requirements, while also providing us the flexibility needed to achieve our long-term growth objectives,” said Rod McGeachy, President and Chief Executive Officer of Tandy Brands. “Finalizing this long-term financing is an important achievement as we continue to stabilize our operating platform and markedly improve our financial position, cash cycle and liquidity. The better terms also signal the financial community’s trust in our management team, and acknowledges the improvement in out financial and operating performance.

“We appreciate how Comerica has partnered with us to provide us with a finance structure that meets the specific needs of our business,” said Mr. McGeachy. “We reviewed several financing options from various institutions, and the Comerica proposal best meets the long-term needs of the company.”

About Tandy Brands Accessories, Inc.

Tandy Brands Accessories, Inc. is a leading designer and marketer of branded men’s, women’s and children’s accessories, including belts, gifts, small leather goods, eyewear, neckwear and sporting goods. Merchandise is sold under various national brand names as well as private labels to all major levels of retail distribution, including the e-commerce web sites for Rolfs^® at www.rolfs.net and Sport Beads at www.sport-beads.com.

Safe Harbor Language

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted or expected results. Those risks include, among other things, the competitive environment in the industry in general and in the company's specific market areas, inflation, changes in costs of goods and services and economic conditions in general and in the company's specific market area. Those and other risks are more fully described in the company's filings with the Securities and Exchange Commission.