<HTML>Baldwin Piano & Organ Co. Announces Workforce Reduction   Initial phase of restructuring focuses on efficiencies    and elimination of redundancies   MASON, Ohio, June 6 /PRNewswire/ -- Baldwin Piano & Organ Company (Nasdaq: <A HREF="aol://4785:BPAO"> BPAO</A>) announced today that the Company will implement a work reduction program immediately as the first step of its restructuring program under Chapter 11 of the United States Bankruptcy Code.  The reduction will include 27 employees at the Company's manufacturing facilities in Conway, Fayetteville and Trumann, Arkansas, as well as the Company's corporate headquarters in Mason, Ohio.  The workforce reduction will reduce the Company's annual payroll by an estimated $1,625,780. Chief Executive Officer Robert J. Jones said, "The reduction in personnel follows an extensive review of our entire operation initiated May 1 when the new management team arrived at Baldwin.   In our analysis we targeted areas of accountability, workflow, duplication of efforts by personnel and consolidations to make operations more efficient." Jones added, "Our intent is to provide strong manufacturing capabilities and to give our customers and dealers quality service in an efficient, but effective manner.  It is never easy to see dedicated employees lose their jobs, but this move is a necessary one in our effort to become profitable. Management pledges to work diligently in its effort to reorganize under Chapter 11 of the United States Bankruptcy Code.  We anticipate returning to our primary business, which is the profitable manufacturing of the world's best pianos." Kenneth W. Pavia, Chairman, stated that he had full confidence in Jones' vision for the future of Baldwin.  "Robert Jones and his management team has undertaken an exhaustive analysis of the legacy issues hindering the Company and has pledged a proactive, diligent, and expeditious approach in attempting to resolve them.  Although it is one of the most difficult task management has in returning the Company to profitability, reduction in the workforce was where management needed to begin its work.  I look forward to working closely with this very capable management team as they work through their restructuring program and return Baldwin to profitability and the strong status the Company once enjoyed." </HTML>