Tranche Update on La-Z-Boy Incorporated's Equity Buyback Plan announced on February 10, 2004.

La-Z-Boy Incorporated is a global producer of reclining chairs and the manufacturer/distributor of residential furniture in the United States. The Company manufactures, markets, imports, exports, distributes and retails upholstery furniture products under the La-Z-Boy, England, Kincaid, and Joybird tradenames. Its segments include the Wholesale segment and the Retail segment. The Wholesale segment manufactures and imports upholstered and casegoods (wood) furniture and sells directly to La-Z-Boy Furniture Galleries stores, operators of La-Z-Boy Comfort Studio locations, branded space locations, England Custom Comfort Center locations, dealers, and a cross-section of other independent retailers. The Retail segment primarily sells upholstered furniture, in addition to some casegoods and other accessories to end consumers through its Company-owned La-Z-Boy Furniture Galleries stores. The Company sells its products through multiple channels to furniture retailers or distributors.