Springs To Exit

Home furnishings supplier Springs Global US Inc., Fort Mill, S.C., a subsidiary of Brazil-based
Springs Global Participações S.A., announced it will discontinue its South Carolina bedding
manufacturing operations and close its Grace Finishing and Grace Fabrication plants in Lancaster,
and its Close Plant in Fort Lawn. The closures, expected to be completed around the end of August,
will affect 540 associates who produce finished bed fabrics and sheets at the Grace facilities and
210 who produce comforters and bedding accessories at Close.

The company’s distribution and warehouse operation at Grace, which employs some 150
associates, will continue. After the plant closures are final, Springs Global will retain
approximately 700 associates in South Carolina, primarily at its distribution centers in Fort Lawn
and Lancaster and at its sales and administrative offices in Fort Mill.

The company’s distribution and warehouse operation at Grace, which employs some 150
associates, will continue. After the plant closures are final, Springs Global will retain
approximately 700 associates in South Carolina, primarily at its distribution centers in Fort Lawn
and Lancaster and at its sales and administrative offices in Fort Mill.

“This marks the end of 120 years during which Springs has manufactured bedding in South
Carolina,” said Crandall Bowles, co-chairman and co-CEO. “Both the Grace Plant and the Close Plant
have been integral and valuable parts of our business. The Grace Complex, in particular, once the
largest finishing plant under one roof in the world, has been a symbol of our company in this
area.”

Springs Global still maintains manufacturing operations for some bedding products in the
United States, including a comforter and bedding accessories facility in Alabama; a blanket
facility in North Carolina; and pillow and mattress pad facilities in Virginia, Oklahoma and
California. In addition, the company manufactures towels in Georgia and bath rugs in Tennessee.



July 3, 2007
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