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Guilford Mills Announces Exclusive Licensing Agreement

GREENSBORO, N.C., Feb. 2 /PRNewswire/ -- Guilford Mills Inc. (NYSE: GFD) announced today that its Home Fashions division has signed an exclusive licensing agreement with Jockey International Inc. Under the agreement, Guilford Home Fashions will create and distribute a collection of bedding and accessories under two labels -Jockey Home and Jockey Classic - which will be introduced at the Spring Home Textile Market week beginning on March 31, 2001. John A. Emrich, President and Chief Executive Officer of Guilford Mills,said, "In combination with our global sourcing initiatives, we believe that licensing and branding opportunities will drive profitability and growth in our Home Fashions business. We could not be more pleased to be working with Jockey, owner of one of the most recognized brands in the world, and one that is synonymous with quality, performance and value. Together, we will be better able to capture the growing opportunities in the home textile business,especially within the age 35+ female consumer and baby-boomer groups - the largest sources of home decorating dollars. "Guilford Mills is the largest warp knitter in the world and one of the largest producers of Lycra(R)-containing fabrics. Our partnership with Jockey is a natural extension of Guilford's commitment to innovation and expertise in knitting high quality fabrics. For instance, we will premiere an exclusive knit fabrication for Jockey that features compact ring spun Supima(R) cotton,blended with Lycra(R). This high performance, fashion conscious fabric is one example of Guilford's innovation that we can leverage with a brand like Jockey to capitalize on the growth in the home textile business," Mr. Emrich concluded. Bob Nolan, President of Jockey Brands said, "Jockey has continued to seek out partners in a number of markets to broaden the scope of Jockey product potentials. In our quest to expand into other areas, we never lose sight ofour commitment to fashion and quality. We are therefore extremely gratifiedto have a respected company such as Guilford Home Fashions as our partner in this area." About Jockey International Inc. Jockey International Inc. is a manufacturer of men's, women's, boys' andgirls' underwear, which are sold in major department and specialty stores across the country. The products are also available globally in over 120countries. Located in Kenosha, WI, the 125 year-old-company is committed toquality, fashion, innovation, comfort and value. About Guilford Mills Inc. Guilford Mills is an integrated designer and producer of value-added fabrics using a broad range of technologies. The Company is the largest warpknitter in the world and is a leader in technological advances in textiles,including micro denier warp knits and wide width circular knits of cotton blended with Lycra(R). Guilford Mills serves a diversified customer base in the home furnishings, apparel, automotive and industrial markets. Through its Guilford Home Fashions subsidiary, the Company produces bedding products,window treatments and shower curtains for the retail market. Additionalinformation about the Company can be obtained from its website athttp://www.guilfordmills.com. This press release may be deemed to contain forward-looking statements and other projections within the meaning of Section 27A of the Securities Act andSection 21E of the Exchange Act. The Company assumes no obligations to update or revise any such forward-looking statements. Such statements could be subject to risk and uncertainty that exist in the operations of the Company and the business environment that could render actual outcomes and results materially different from those predicted. These risks and uncertainties include, without limitation, the following factors as well as risks and uncertainties disclosed in the Company's filings with the Securities and Exchange Commission: 1. General economic factors including, but not limited to, changes in interest rates, foreign currency translation rates, consumer confidence, housing starts, trends in disposable income, changes in consumer demand for goods produced, and cyclical or other downturns 2. The overall level of automotive production and the production of specific car models 3. Fashion trends 4. Information and technological advances 5. Cost and availability of raw materials, labor and natural and other resources 6. Domestic and foreign competition 7. Domestic and foreign governmental regulations and trade policies 8. Reliance on major customers 9. Success of marketing, advertising and promotional campaigns 10. Inability to achieve cost reductions through consolidation and restructuring or 11. Inability to obtain financing on favorable terms or to obtain amendments or waivers with respect to non-compliance with certain covenants in loan agreements SOURCE Guilford Mills, Inc.Web Site: http://www.guilfordmills.com Copyright 2001 PR Newswire




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