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WestPoint Stevens Completes Purchase Of Chatham

WEST POINT, Ga., Jan. 5 /PR Newswire/ -- WestPoint Stevens Inc. (NYSE: WXS)(http://www.westpointstevens.com announced that it has completed the previously announced purchase of the assets and business operations of the Chatham Consumer Products division of CMI Industries, Inc. The closing of the transaction occurred today. "We're delighted to acquire Chatham because it strengthens West Point Stevens as a major resource in blankets, which is a key category in home fashions accessories," said David C. Meek, Executive Vice President and Chief Financial Officer for the Company. "For WestPoint, this takes on added importance because of our expanded licensing agreement with Ralph Lauren and our new licensing agreement with Disney." The Chatham Consumer Products division of CMI Industries, located inElkin, North Carolina, is a leading manufacturer and wholesaler of woven and nonwoven blankets with estimated annual sales of $35 million. Chatham'scustomer base is diversified among mass merchants, department and specialty stores. The Chatham acquisition is reflective of WestPoint Stevens' Eight-PointProgram in action. Major focuses of the program, which the Company announced last June, include continued expansion of product offerings and extensiveexploration of new licensing opportunities. WestPoint Stevens can be found on the World Wide Web athttp://www.westpointstevens.com . Safe Harbor Statement: Except for historical information contained herein, certain matters set forth in this press release are "forward lookingstatements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward looking statements involve certain risks anduncertainties that could cause actual results to differ materially from those in the forward looking statements. Such risks and uncertainties may beattributable to important factors that include but are not limited to the following: Product margins may vary from those projected; Raw material pricesmay vary from those assumed; Additional reserves may be required for bad debts, returns, allowances, governmental compliance costs, or litigation;There may be changes in the performance of financial markers or fluctuations in foreign currency exchange rates; Unanticipated natural disasters could havea material impact upon results of operations; There may be changes in the general economic conditions that affect customer practices or consumer spending; Competition for retail and wholesale customers, pricing and transportation of products may vary from time to time due to seasonal variations or otherwise; Customer preferences for our products can be affected by competition, or general market demand for domestic or imported goods or the quantity, quality, price or delivery time of such goods; There could be an unanticipated loss of a material customer or a material license; The availability and price of raw materials could be affected by weather, disease,energy costs or other factors. The Company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. SOURCE WestPoint Stevens Inc.Web Site: http://www.westpointstevens.com Copyright 2000 PR Newswire