CONTACT: Leo Taylor (817) 551-9600
                                        Tandycrafts, Inc. or
FOR IMMEDIATE RELEASE                   Jeff Lambert
                                        Lambert, Edwards & Associates, Inc.
                                        (616) 233-0500

                     TANDYCRAFTS ANNOUNCES DELISTING NOTICE

FORT WORTH, Texas, May 5, 2001 - Tandycrafts, Inc. (NYSE: TAC) today announced
that it has been advised by the New York Stock Exchange (NYSE) that the
Company's plan for compliance with continued listing standards has not been
accepted by the NYSE and that the NYSE has determined that the Company's stock
should be suspended prior to the opening on May 14, 2001.  The Company has a
right to a review of this determination and is evaluating this right.  The
Company is also evaluating its alternative trading options, including the pink
sheets.

The NYSE stated that this action was taken due to the Company's failure to meet
the NYSE's continued listing standards requiring total global capitalization of
not less than $50 million and total stockholder's equity of not less than $50
million, average market capitalization of not less than $15 million over a
thirty (30) day trading period, and a 30-day average share price of not less
than $1.00.

Tandycrafts, Inc. (www.tandycrafts.com) is a maker and marketer of picture
frames and wall decor.  Tandycrafts' products are sold nationwide through
wholesale distribution channels, including mass merchandisers and specialty
retailers.

Statements in this news release which are not purely historical facts are
forward looking statements, including statements containing the words "believe",
"estimate", "project", "expect" or similar expressions. These statements are
made pursuant to the safe harbor provisions of Section 21E of the Securities
Exchange Act of 1934, as amended. Although Tandycrafts believes that the
expectations in the forward looking statements are reasonable, Tandycrafts can
give no assurance that such expectations or the forward looking statements will
prove to be correct.  Any forward-looking statement inherently involves risks
and uncertainties that could cause actual results to differ materially from the
forward-looking statements. Factors that would cause or contribute to such
differences include, but are not limited to, continued acceptance of
Tandycrafts' products in the marketplace, successful implementation of its
strategic plan, the extension or refinancing of its existing bank facility and
the restrictions any such extension or refinancing could place on Tandycrafts,
the ability to obtain new financing from other financing sources, the ability to
generate positive cash flow from operations and asset sales, competitive
factors, dependence upon third-party vendors, and other risks detailed in
Tandycrafts' periodic report filings with the Securities and Exchange
Commission. By making these forward-looking statements, Tandycrafts undertakes
no obligation to update these statements for revisions or changes after the date
of this release. Readers are cautioned not to place undue reliance on forward-
looking statements.  The inclusion of any statement in this release does not
constitute an admission by Tandycrafts or any other person that the events or
circumstances described in such statement are material.

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