<SEC-DOCUMENT>0000902664-15-004315.txt : 20151118
<SEC-HEADER>0000902664-15-004315.hdr.sgml : 20151118
<ACCEPTANCE-DATETIME>20151118150129
ACCESSION NUMBER:		0000902664-15-004315
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20151118
DATE AS OF CHANGE:		20151118
EFFECTIVENESS DATE:		20151118

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ETHAN ALLEN INTERIORS INC
		CENTRAL INDEX KEY:			0000896156
		STANDARD INDUSTRIAL CLASSIFICATION:	WOOD HOUSEHOLD FURNITURE, (NO UPHOLSTERED) [2511]
		IRS NUMBER:				061275288
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11692
		FILM NUMBER:		151240521

	BUSINESS ADDRESS:	
		STREET 1:		ETHAN ALLEN DR
		STREET 2:		PO BOX 1966
		CITY:			DANBURY
		STATE:			CT
		ZIP:			06811
		BUSINESS PHONE:		2037438000

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SANDELL ASSET MANAGEMENT CORP
		CENTRAL INDEX KEY:			0001140474
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		540 MADISON AVENUE
		STREET 2:		36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2126035700

	MAIL ADDRESS:	
		STREET 1:		540 MADISON AVENUE
		STREET 2:		36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>p15-2221dfan14.htm
<DESCRIPTION>SANDELL ASSET MANAGEMENT CORP
<TEXT>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SCHEDULE 14A</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Proxy Statement Pursuant to Section 14(a)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">of the Securities Exchange Act of 1934</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt">Filed by the
Registrant </FONT><FONT STYLE="font: 15pt Wingdings">o</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Filed by a Party other than the Registrant
<FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 15pt"><FONT STYLE="font: 15pt Wingdings">o</FONT></TD>
    <TD STYLE="width: 93%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font-size: 11pt">Preliminary Proxy Statement</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font: 15pt Wingdings">o</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font-size: 11pt">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font: 15pt Wingdings">o</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font-size: 11pt">Definitive Proxy Statement</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font: 15pt Wingdings">o</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font-size: 11pt">Definitive Additional Materials</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font: 11pt Wingdings">x</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt"><FONT STYLE="font-size: 11pt">Soliciting Material Under Rule 14a-12</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Ethan Allen Interiors Inc.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Registrant as Specified In Its Charter)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Sandell Asset Management Corp.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Castlerigg Master Investments Ltd.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Castlerigg International Limited</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Castlerigg International Holdings Limited</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Castlerigg Offshore Holdings, Ltd.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Castlerigg Active Investment Fund, Ltd.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Castlerigg Active Investment Intermediate
Fund, L.P.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Castlerigg Active Investment Master Fund,
Ltd.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Castlerigg Equity Event and Arbitrage Fund</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Thomas E. Sandell</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Edward Glickman</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Kathy Herbert</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Richard Mansouri</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Annelise Osborne</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Ken Pilot</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Alex Wolf</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Person(s) Filing Proxy Statement, if
other than the Registrant)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/85% Times New Roman, Times, Serif; margin: 0; text-align: justify">Payment of Filing Fee (check the appropriate
box):</P>

<P STYLE="font: 10pt/85% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font: 15pt/85% Wingdings">x</FONT></TD>
    <TD STYLE="width: 93%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt; line-height: 85%">No fee required.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font: 15pt/85% Wingdings">o</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt; line-height: 85%">Fee computed on table below per Exchange Act Rule 14a-6(i)(4) and 0-11.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/85% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">1)</FONT></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">Title of each class of securities to which transaction applies:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">Aggregate number of securities to which transaction applies:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">3)</FONT></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Per unit price or other underlying value of transaction computed pursuant to Exchange Act</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">4)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">Proposed maximum aggregate value of transaction:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">5)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">Total fee paid:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font: 15pt/85% Wingdings">o</FONT></TD>
    <TD STYLE="width: 93%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; line-height: 85%">Fee paid previously with preliminary materials.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font: 15pt Wingdings">o</FONT></TD>
    <TD STYLE="width: 93%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">filing for which the offsetting fee was paid previously.&nbsp;&nbsp;Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">1)</FONT></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">Amount Previously Paid:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">Form, Schedule or Registration Statement No.:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">3)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">Filing Party:</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">4)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; line-height: 85%">Date Filed:</FONT></TD></TR>
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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><IMG SRC="image_001.gif" ALT="" STYLE="height: 83px; width: 428px"></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">November 18, 2015</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">Dear Fellow Stockholder of Ethan
Allen:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">As you may be aware, our firm Sandell
Asset Management Corp. (&#8220;Sandell&#8221;) is engaged in a proxy contest with Ethan Allen Interiors Inc. (&#8220;Ethan Allen&#8221;
or the &#8220;Company&#8221;), where we are seeking to elect six new, highly-qualified nominees to the Board of Directors of Ethan
Allen at the Company&#8217;s upcoming November 24 Annual Meeting.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">Recently, Institutional Shareholder
Services (&#8220;ISS&#8221;), the leading proxy advisory firm, recommended that shareholders vote on the GOLD proxy card to support
three of Sandell&#8217;s candidates (Edward Glickman, Richard Mansouri, and Ken Pilot). In addition, ProxyMosaic, another proxy
advisory firm, recommended that shareholders vote in favor of <U>all</U> Sandell nominees, citing the strength and complementary
nature of our slate of nominees.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">We are disappointed that Glass Lewis &amp;
Co. (&#8220;Glass Lewis&#8221;), a third proxy advisory firm, did not support our slate. We believe this recommendation was driven
by a lack of understanding regarding our action plan to deliver much needed change and enhance shareholder value at Ethan Allen.
While we sought on multiple occasions to engage in dialogue with Glass Lewis, our efforts were rebuffed. In contrast, ISS and ProxyMosaic
took the time to speak with our firm. We believe it is no coincidence that given a dialogue and a clear understanding of our views,
both ISS and ProxyMosaic subsequently recommended shareholders vote on the GOLD proxy card.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">We believe that for the sake of all
shareholders, it is important that we highlight some key areas in which we respectfully disagree with the Glass Lewis report
and its interpretation of the facts. In this instance, the premise of the Glass Lewis process<SUP>1</SUP>
prejudges conclusions that do not comport with assertions made later in the report.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In their report, Glass Lewis states: <I>&#8220;To
its credit, during this extended period of transition, we note that the Company has generally met its quarterly revenue and earnings
guidance (when it has offered guidance), particularly during the last three quarters.&#8221; </I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>
<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>
<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif"><SUP>1</SUP></FONT>
<FONT STYLE="font-size: 10pt; line-height: 115%">&ldquo;In our evaluation of proxy contests, we begin with the premise that a well-functioning, informed and independent board of directors should receive reasonable deference from shareholders on strategic matters. Such a board is often in the best position -- with more information and experts at its disposal -- to assess a company's strategic and financial alternatives. Therefore, as a general rule, we are reticent to recommend the removal of incumbent directors, or the election of dissident nominees, unless certain issues are evident.&rdquo; &ndash; Page 14 of Glass Lewis report. </FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">While this may be arguably true regarding
the Company&#8217;s own guidance, it is important for investors to note that Ethan Allen has for the last three quarters reported
revenue below expectations. We refer to excerpts from a number of Bloomberg reports to illustrate this (emphasis added):</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt 38.75pt; text-indent: -0.25in"><FONT STYLE="font: 11pt Symbol">&middot;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">&#8220;Ethan Allen sees 3Q adj. EPS ~18c, est. 22c; <B>sees 3Q written/delivered
sales unchanged y/y, est. 4%.&#8221; </B>(Bloomberg article by Courtney Dentch, April 14, 2015)</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt 38.75pt; text-indent: -0.25in"><FONT STYLE="font: 11pt Symbol">&middot;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">&#8220;ETH <B>prelim. 4Q net sales down 2.6%, analysts est. up 2.2</B>%<B>.&#8221;
</B>(Bloomberg article by Brad Skillman, July 13, 2015)</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt 38.75pt; text-indent: -0.25in"><FONT STYLE="font: 11pt Symbol">&middot;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">&#8220;Ethan Allen preliminary 1Q EPS 45c-46c, est. 45c; <B>preliminary
rev. flat y/y with 1Q FY2015&#8217;s $190.7m, est. $203.7m.&#8221; </B>(Bloomberg article by Patrick McHale, October 19, 2015)</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 38.75pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">Glass Lewis
adds further confusion to this issue when they subsequently note that Ethan Allen <I>&#8220;hasn&#8217;t had a noteworthy revenue
miss for three consecutive quarters.&#8221;</I> When we brought this to the attention of Glass Lewis, their comment was: <I>&#8220;An
initial review suggests certain&nbsp;of the&nbsp;estimates noted in&nbsp;the Bloomberg articles&nbsp;do not match up with&nbsp;data
provided by S&amp;P&nbsp;CapitalIQ. At this point we will continue to&nbsp;rely on&nbsp;the CapIQ data. Having said that,&nbsp;we
don't believe that analysis&nbsp;is&nbsp;the crux of our recommendation and think&nbsp;the report broadly outlines our rationale
for support of management's slate.&#8221;</I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">We find
this reference to &#8220;the crux of our recommendation&#8221; even more troubling. The &#8220;crux&#8221; of the Glass Lewis voting
recommendation was based on <I>&#8220;our [Glass Lewis] views with respect to the best strategic and financial direction&#8221;</I>
for the Company, which in their minds contrasted with their view of <I>&#8220;Sandell&#8217;s apparent strategic vision to transform
Ethan Allen from a manufacturer toward the importer and commodity-based model of peers.&#8221;</I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">We question
how Glass Lewis could claim to be able to understand Sandell&#8217;s strategic vision without taking the time to even speak with
our nominees or us. Their use of the word &#8220;apparent&#8221; should be cause for caution, as it serves to highlight a lack
of clarity regarding our ideas that could have easily been avoided through a discussion with us. In no way is our strategic vision
predicated on transforming Ethan Allen &#8220;from a manufacturer towards the importer and commodity-based model of peers&#8221;
and a careful reading of our material would have shown that. To wit, note on page 54 of our presentation entitled: &#8220;Re-Design
Ethan Allen: The Case, Candidates and Plan for Change&#8221; our specific suggestions for the continued operation of the Company&#8217;s
industrial (read: manufacturing) assets (emphasis added):</P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">&#8220;We
would recommend working in concert with the entire Board of Directors to perform an <B>assessment of capacity utilization</B> on
a plant-by-plant basis&#8221;</LI>

</UL>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">&#8220;Ethan
Allen should divide industrial facilities into those <B>best-suited for <U>continued operation</U></B> and those targeted for closing&#8221;</LI>

</UL>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0.5in; text-align: justify; background-color: white">&nbsp;</P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">&#8220;We
believe Ethan Allen should seek sale-leaseback options for those industrial assets <B>best suited for <U>continued operation</U></B>&#8221;</LI>

</UL>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0.5in; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">Again,
please compare these views with the foregone conclusion that Glass Lewis set up on page 14 of its report and we urge you to make
your own informed decision.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">What is
also noteworthy is that it would appear that Glass Lewis, as a firm well-versed in governance matters, agrees with us on a number
of governance-oriented points, as is evidenced by their following comments:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white"><I>&#8220;Sandell
highlights what was a stale board with a lengthy average director tenure prior to its active engagement, along with the Company&#8217;s
&#8220;dead-hand&#8221; provision and lack of succession plan for its aging chairman and CEO who has run the Company for the past
27 years<B>. Indeed, these are serious concerns for shareholders and we question whether the board would have taken steps to address
any of these issues were it not for Sandell&#8217;s prodding.&#8221;</B></I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white"><I>&#8220;Sandell
has raised valid concerns with respect to board independence and the ability or willingness of certain current directors to hold
Mr. Kathwari accountable if management&#8217;s strategies ultimately prove unsuccessful. <B>Specifically, we believe Sandell makes
a compelling argument with respect to Messrs, Carlson, Schmotter and Clark.&#8221;</B></I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white"><I>&#8220;Ethan
Allen&#8217;s performance appears respectable over the last five years but its total returns remain well below peer medians and
the returns of the broader index over most periods shown&#8230;[O]ur analysis is largely consistent with Sandell&#8217;s presentation
of the Company&#8217;s TSR, showing material underperformance across most periods analyzed.&#8221;</I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">We also question whether Glass Lewis and the other proxy
advisory firms would raise even more concerns about the corporate governance at Ethan Allen following an article posted by the
Wall Street Journal on November 17, 2015<SUP>2</SUP>. As noted in the story, one of Sandell&#8217;s nominees, Annelise
Osborne, had her employment at Moody&#8217;s Investors Services, where she has worked since 2003, terminated following pressure exerted
by Ethan Allen, a client of Moody&#8217;s. In the article Ms. Osborne&#8217;s legal representative stated that the dismissal &#8220;was
unlawful and (we) will use all of our resources to hold Moody&#8217;s accountable.&#8221;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif"><SUP>2</SUP></FONT>
<FONT STYLE="font-size: 10pt; line-height: 115%">http://www.wsj.com/articles/ethan-allen-takes-aim-at-activists-nominees-for-its-board-1447784503</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">In Sandell&#8217;s view, this behavior by Ethan Allen
represents an underhanded attempt to distract from the real issues at hand: the need for change at Ethan Allen in order to deliver
value to shareholders. It is also suspect that this event would occur at this stage in the campaign so close to the Annual Meeting,
given that Ms. Osborne&#8217;s nomination has been public since September 15, 2015. Ms. Osborne is an excellent director nominee
who will remain on our slate, and we continue to believe her background and qualifications would make her a valuable addition to
the Ethan Allen Board.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">In closing,
while we understand that Glass Lewis generally cites its &#8220;Best Practice Principles&#8221; in the case of a contested election,
where Glass Lewis claims that it <I>&#8220;does not typically engage with issuers or shareholder proponents regarding issues up
for vote during the solicitation period,&#8221;</I> this to our mind is an unfortunate approach that potentially hinders the development
of a truly informed opinion.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">Our firm
has championed the rights of shareholders for years, as we are staunch believers in the notion that shareholders are the true owners
of a company. We are strongly encouraging shareholders of Ethan Allen to focus on the recommendations from proxy advisory firms
that took the time to fully understand our case for change at Ethan Allen and the value our Director nominees can bring, and <B>vote
on the GOLD card to elect a slate of six new, outstanding candidates: Edward Glickman, Kathy Herbert, Richard Mansouri, Annelise
Osborne, Ken Pilot, and Alex Wolf. </B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">Sincerely,</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; background-color: white">Sandell
Asset Management Corp.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt"><B>About Sandell Asset Management Corp.</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">Sandell Asset Management Corp. is
a leading private, alternative asset management firm specializing in global corporate event-driven, multi-strategy investing with
a strong focus on equity special situations and credit opportunities. Sandell Asset Management Corp. was founded in 1998 by Thomas
E. Sandell and has offices in New York and London, including a global staff of investment professionals, traders and infrastructure
specialists.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>Contact:</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><B>Sandell Asset Management Corp.</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">Adam Hoffman, 212-603-5814</P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><B>Okapi Partners LLC</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">Bruce Goldfarb, 212-297-0722 or
Chuck Garske, 212-297-0724</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>Sloane &amp; Company</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">Elliot Sloane, 212-446-1860 or Dan
Zacchei, 212-446-1882</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Sandell Asset Management Corp., Castlerigg
Master Investments Ltd., Castlerigg International Limited, Castlerigg International Holdings Limited, Castlerigg Offshore Holdings,
Ltd., Castlerigg Active Investment Fund, Ltd., Castlerigg Active Investment Intermediate Fund, L.P., Castlerigg Active Investment
Master Fund, Ltd., Castlerigg Event Driven and Arbitrage Fund, Thomas E. Sandell (collectively, &#8220;Sandell&#8221;), Edward
Glickman, Kathy Herbert, Richard Mansouri, Annelise Osborne, Ken Pilot and Alex Wolf (collectively with Sandell, the &#8220;Participants&#8221;),
have filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) a definitive proxy statement and accompanying form
of proxy card to be used in connection with the solicitation of proxies from the stockholders of Ethan Allen Interiors Inc. (the
&#8220;Company&#8221;) in connection with the Company&#8217;s 2015 annual meeting of stockholders. All stockholders of the Company
are advised to read the definitive proxy statement and other documents related to the solicitation of proxies by the Participants,
as they contain important information, including additional information related to the Participants. The definitive proxy statement
and an accompanying proxy card are being furnished to some or all of the Company&#8217;s stockholders and are, along with other
relevant documents, available at no charge on the SEC website at http://www.sec.gov/ and at our website at http://www.RedesignEthanAllen.com.</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Information about the Participants and a
description of their direct or indirect interests by security holdings is contained in the definitive proxy statement on Schedule
14A filed by Sandell Asset Management Corp. with the SEC on November 3, 2015. This document can be obtained free of charge from
the sources indicated above.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>


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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
