<HTML><FONT FACE=arial,helvetica><FONT SIZE=5><B>Baldwin Piano & Organ Company Announces Resignation of Karen Hendricks from
<BR>Company's Board of Directors</FONT><FONT COLOR="#000000" SIZE=3 FAMILY="SANSSERIF" FACE="Arial" LANG="0"></B>
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<BR>MASON, Ohio, May 11 /PRNewswire/ -- Baldwin Piano & Organ Company (Nasdaq:
<BR>BPAO ) announced today that Karen L. Hendricks has resigned from the board of
<BR>directors effective immediately. Hendricks, the former chairman and CEO of
<BR>the Company, had served on the board of directors since 1994. The Company
<BR>does not intend to appoint an interim board member to replace Hendricks....
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<BR></FONT><FONT COLOR="#000000" SIZE=2 FAMILY="SANSSERIF" FACE="Arial" LANG="0">I hope this means she doesn't get that million bucks either.
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<BR>Bill Bremmer RPT
<BR>Madison, Wisconsin</FONT></HTML>