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