Navarre Corporation Announces Completion of Debt Refinancing

MINNEAPOLIS, Nov. 12, 2009 (GLOBE NEWSWIRE) -- Navarre Corporation (Nasdaq:NAVR)
today announced that it has entered into a three year $65.0 million revolving
credit facility with Wells Fargo Foothill, part of Wells Fargo & Company
(NYSE:WFC), as agent and lender. Capital One Leverage Finance Corporation is
also participating as a lender in the new facility.

Proceeds from the transaction have been used to pay off the Company's previous
debt facility, which was due to expire next June, and will be available for
general working capital purposes. This revolving facility is secured by a first
priority security interest in all of the Company's assets and will mature in
November 2012. During the quarter ending December 31, 2009, the Company will
recognize a non-cash pre-tax charge of $325,000 related to debt acquisition
costs associated with the previous credit facility.

"We are pleased to have completed this refinancing, particularly considering
today's restrictive credit markets," said J. Reid Porter, Executive Vice
President and Chief Financial Officer. "We now have financing with fewer, less
restrictive covenants that improves the Company's financial flexibility and
ability to grow. We are pleased to be working with lenders that have a solid
understanding of our business and we look forward to working with Wells Fargo
Foothill and Capital One in the pursuit of our strategic objectives."

"We are glad to have been able to structure an asset-based loan to support
Navarre's plans for success," said Eran Cohen, Wells Fargo Foothill managing
director. "This facility provides Navarre with the financial flexibility to
continue to grow its market share even during these challenging economic times."

About Navarre Corporation

Navarre(R) Corporation is a publisher and distributer of a wide range of
computer software and home entertainment products. The Company publishes anime
content through FUNimation Entertainment(R) and computer software through
Encore(R). Navarre Distribution Services distributes computer software, DVD
video, video games and accessories; and Navarre Logistical Services provides
value-added services to the company's publishing companies and third-party
publishers. Navarre was founded in 1983 and is headquartered in New Hope,
Minnesota. Additional information regarding Navarre can be found at
http://www.navarre.com.

About Wells Fargo Foothill

Wells Fargo Foothill is a leading provider of senior secured financing to
middle-market companies across the United States and Canada, offering flexible,
innovative credit facilities from $10 million to $1 billion and more. It is part
of Wells Fargo & Company, a diversified financial services company with $1.3
trillion in assets, providing banking, insurance, investments, mortgage and
consumer finance through more than 10,000 stores, over 12,000 ATMs and the
Internet (wellsfargo.com) across North America and internationally. For more
information, visit wellsfargofoothill.com.

Safe Harbor

The statements in this press release that are not strictly historical are
"forward-looking" statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and are intended to be covered by the safe harbors
provided therein. The forward-looking statements are subject to risks and
uncertainties, and the actual results that the Company achieves may differ
materially from these forward-looking statements due to such risks and
uncertainties, including, but not limited to: difficult economic conditions that
adversely affect the Company's customers and vendors; the Company's revenues
being derived from a small group of customers; a pending investigation by the
U.S. Securities and Exchange Commission (the "SEC") or litigation arising out of
this investigation may subject the Company to significant costs; the seasonal
nature of the Company's business; the potential for the Company to incur
significant additional costs and to experience operational and logistical
difficulties in connection with its new ERP system; the Company's dependence on
significant vendors; uncertain growth in the publishing segment; the Company's
ability to meet significant working capital requirements related to distributing
products; and the Company's ability to compete effectively in the highly
competitive distribution and publishing industries. In addition to these, a
detailed statement of risks and uncertainties is contained in the Company's
reports to the Securities and Exchange Commission, including in particular the
Company's Form 10-K filings, as well as its other SEC filings and public
disclosures.

Investors and shareholders are urged to read this press release carefully. The
Company can offer no assurances that any projections, assumptions or forecasts
made or discussed in this press release will be met, and investors should
understand the risks of investing solely due to such projections. The
forward-looking statements included in this press release are made only as of
the date of this report and the Company undertakes no obligation to update these
forward-looking statements to reflect subsequent events or circumstances.

Investors and shareholders may obtain free copies of the public filings through
the website maintained by the SEC at http://www.sec.gov/ or at one of the SEC's
other public reference rooms in Washington D.C., New York, New York or Chicago,
Illinois. Please contact the SEC at 1-800-SEC-0330 for further information with
respect to the SEC's public reference rooms.

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CONTACT: Navarre Corporation
Investor Relations
763-535-8333
ir@navarre.com