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About Nova LifeStyle, Inc.

Nova LifeStyle, Inc., a U.S. company headquartered in California, is a fast growing, innovative designer and manufacturer of modern LifeStyle furniture, primarily sofas, dining rooms and cabinets in matching collections. Nova's products are made in the U.S., Asia and its state of the art factory completed in 2011 in Dongguan, China and marketed worldwide. Nova's collections of LifeStyle furniture brands include Diamond Sofa (www.diamondsofa.com), Colorful World, Giorgio Mobili and others. Nova's products feature urban contemporary styles with comfort and functionality in matching furniture collections and upscale luxury designs appealing to LifeStyle-conscious middle and upper middle-income consumers in the U.S., China, Europe and elsewhere in the world. To learn more about Nova LifeStyle, Inc., please visit www.novaLifeStyle.com.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Nova's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Nova's filings with the Securities and Exchange Commission.

                   NOVA LIFESTYLE, INC. AND SUBSIDIARIES                   CONDENSED CONSOLIDATED BALANCE SHEETS              MARCH 31, 2012 (UNAUDITED) AND DECEMBER 31, 2011                                                 March 31,     December 31,                                                    2012           2011                                               -------------  -------------                                                (Unaudited)AssetsCurrent Assets  Cash and cash equivalents                    $   1,864,010  $   2,505,179  Accounts receivable                             19,972,873     18,974,612  Accounts receivable - related party                     --         28,289  Due from factor                                         --        203,351  Advance to suppliers                               255,982        349,767  Inventories                                      1,762,186      1,848,081  Prepaid expenses and other receivable              191,157        113,853  Deferred tax asset                                 157,101        156,974                                               -------------  -------------Total Current Assets                              24,203,309     24,180,106                                               -------------  -------------Noncurrent Assets  Heritage and cultural assets                       128,822        128,687  Plant, property and equipment, net               8,496,251      8,721,186  Construction in progress                           757,907         91,466  Construction deposit                                    --        634,830  Goodwill                                           218,606        218,606  Intangible assets, net                           1,253,880        724,465  Deferred tax asset                                 187,925        118,144                                               -------------  -------------Total Noncurrent Assets                           11,043,391     10,637,384                                               -------------  -------------Total Assets                                   $  35,246,700  $  34,817,490                                               =============  =============                    NOVA LIFESTYLE, INC. AND SUBSIDIARIES                    CONDENSED CONSOLIDATED BALANCE SHEETS              MARCH 31, 2012 (UNAUDITED) AND DECEMBER 31, 2011                                                 March 31,     December 31,                                                    2012           2011                                               -------------  -------------                                                (Unaudited)Liabilities and Stockholders' EquityCurrent Liabilities  Accounts payable                             $   3,636,742  $   6,758,058  Advance from customers                             119,032         91,021  Accrued liabilities and other payables           1,162,609        834,128  Taxes payable                                      326,898        198,984                                               -------------  -------------Total Current Liabilities                          5,245,281      7,882,191                                               -------------  -------------Noncurrent Liabilities  Deferred rent payable                               62,409         58,949  Deferred tax liability, net                         69,788             --  Income tax payable                               4,121,182      4,016,266                                               -------------  -------------Total Noncurrent Liabilities                       4,253,379      4,075,215                                               -------------  -------------Total Liabilities                                  9,498,660     11,957,406                                               -------------  -------------Contingencies and CommitmentsStockholders' Equity  Common stock, $0.001 par value; 75,000,000   shares authorized, 18,486,567 and   17,898,267 shares issued and outstanding as   of March 31, 2012 and December 31, 2011,   respectively                                       18,487         17,898  Additional paid-in capital                      18,970,395     17,074,535  Subscription receivable                         (1,950,000)    (1,950,000)  Statutory reserves                                   6,241          6,241  Accumulated other comprehensive income           2,151,819      2,138,974  Retained earnings                                6,551,098      5,572,436                                               -------------  -------------Total Stockholders' Equity                        25,748,040     22,860,084                                               -------------  -------------Total Liabilities and Stockholders' Equity     $  35,246,700  $  34,817,490                                               =============  =============                    NOVA LIFESTYLE, INC. AND SUBSIDIARIES    CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME                                 (UNAUDITED)                                               Three Months Ended March 31,                                               ----------------------------                                                    2012           2011                                               -------------  -------------                                                        (Unaudited)                                               ----------------------------Net Sales(Including sales to related parties of $0 and $364,402 during the three months ended March 31, 2012 and 2011, respectively)              $  10,999,254  $   5,632,790Cost of Sales                                      7,988,979      3,843,629                                               -------------  -------------Gross Profit                                       3,010,275      1,789,161                                               -------------  -------------Operating Expenses  Selling expenses                                   689,907        220,476  General and administrative expenses              1,051,215        326,553  Loss on disposal of plant, property and   equipment                                         123,775             --Total Operating Expenses                           1,864,897        547,029                                               -------------  -------------Income From Operations                             1,145,378      1,242,132                                               -------------  -------------Other Income (Expenses)  Non-operating income                                 2,299          4,962  Foreign exchange transaction gain (loss)             8,312        (23,198)  Financial expense                                  (10,812)        (9,389)                                               -------------  -------------Total Other Expenses, Net                               (201)       (27,625)                                               -------------  -------------Income Before Income Tax                           1,145,177      1,214,507Income Tax Expense                                   166,515        208,965                                               -------------  -------------Net Income                                           978,662      1,005,542Other Comprehensive Income  Foreign currency translation                        12,845        104,388                                               -------------  -------------Comprehensive Income                           $     991,507  $   1,109,930                                               =============  =============Basic weighted average shares outstanding         18,377,031      9,685,000                                               -------------  -------------Diluted weighted average shares outstanding       18,691,250      9,685,000                                               -------------  -------------Basic net earnings per share                   $        0.05  $        0.10                                               =============  =============Diluted net earnings per share                 $        0.05  $        0.10                                               =============  =============