Martin Color-Fi Under New Ownership

Automotive thermoformed nonwoven system solutions provider Formed Fiber Technologies (FFT) Inc.,
Auburn, Maine, and its majority investor Morgenthaler Partners have purchased Sumter, S.C.-based
polyester producer Martin Color-Fi (MCF) Inc.

“Martin Color-Fi represents a critical source of raw material for FFT, both now and for our
future growth plans,{” said David MacMahon, president and CEO, FFT. “This acquisition allows us to
consolidate FFTs relatively small solution-dyed polyester fiber manufacturing operation with MCF’s
larger facility and thus achieve economies of scale.”

January 2004