X0304 4 2011-11-01 0 0000911650 NAVARRE CORP /MN/ NAVR 0001346543 Becker Drapkin Management, L.P. 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 13(d) 10% Group 0001458693 Drapkin Matthew A 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 10% Group 0001349005 Becker Steven R 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 10% Group 0001451722 BECKER DRAPKIN PARTNERS (QP), L.P. 300 CRESCENT COURT, SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 10% Group 0001451721 BECKER DRAPKIN PARTNERS, L.P. 300 CRESCENT COURT, SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of 10% 13d group 0001349003 BC Advisors LLC 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 10% Group 0001498645 BD Partners II, L.P. 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 13(d) 10% Group Common Stock 2011-11-01 4 P 0 50103 1.4819 A 1472167 I See Footnotes Common Stock 2011-11-02 4 P 0 324118 1.5500 A 1796285 I See Footnotes Common Stock 2011-11-02 4 P 0 8707 1.5000 A 1804992 I See Footnotes Common Stock 2011-11-03 4 P 0 24206 1.5400 A 1829198 I See Footnotes Common Stock 2011-11-01 4 P 0 8241 1.4819 A 242145 I See Footnotes Common Stock 2011-11-02 4 P 0 48132 1.5500 A 290277 I See Footnotes Common Stock 2011-11-02 4 P 0 1293 1.5000 A 291570 I See Footnotes Common Stock 2011-11-03 4 P 0 3594 1.5400 A 295164 I See Footnotes Common Stock 2011-11-01 4 P 0 23056 1.4819 A 677439 I See Footnotes Common Stock 2011-11-02 4 P 0 20750 1.5500 A 698189 I See Footnotes Common Stock 2062050 I See Footnotes This statement is jointly filed by and on behalf of each of Becker Drapkin Management, L.P. ("BD Management"), Becker Drapkin Partners (QP), L.P. ("QP Fund"), Becker Drapkin Partners, L.P. ("LP Fund"), BD Partners II, L.P. ("BD Partners II"), BC Advisors, LLC ("BC Advisors"), Steven R. Becker and Matthew A. Drapkin. A managed account (the "Managed Account"), QP Fund, LP Fund and BD Partners II are the direct beneficial owners of the securities covered by this statement. BD Management provides investment advisory services for the Managed Account and is the general partner of each of QP Fund, LP Fund and BD Partners II. (Continued in footnote 2) BD Management may be deemed to beneficially own securities owned by the Managed Account, QP Fund, LP Fund and BD Partners II. BC Advisors is the general partner of BD Management and may be deemed to beneficially own securities owned by BD Management. Mr. Becker and Mr. Drapkin are the co-managing members of BC Advisors and may be deemed to beneficially own securities owned by BC Advisors. Each reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Act") or otherwise, the beneficial owner of any securities covered by this statement. Each reporting person disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securities. Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 12(g) of the Act or any other purpose, a member of a group wit respect to the issuer or securities of the issuer. Represents shares directly beneficially owned by QP Fund. Represents shares directly beneficially owned by LP Fund. Represents shares directly beneficially owned by BD Partners II. Represents shares beneficially owned by BD Management, as investment manager for the Managed Account, and in which BD Management may be deemed to have a pecuniary interest as a result of performance related fees. See Exhibit 99.1 2011-11-03