Tandem Fabrics To Reopen Under New Name, Ownership

Canada-based Tandem Fabrics has reopened for business under the name Tandem Textiles Inc. with new
ownership and 44 new employees thanks in part to loans worth Can$2.43 million made by the
Government of New Brunswick. The investment will be used to make facility upgrades, assist with
capital costs, and upgrade environmental and water recycling machinery.

The company had closed its doors in 2005 due to a weak Canadian dollar and shift of
production to Asia and South America.

Dick Carpenter has been named president, while Larry Kinden and Walter Smith have been
appointed CEO and general manager, respectively.

The company will produce environmentally friendly woven upholstery fabrics for the health
care, office, cinema and transportation industries under the Heritage Textiles brand name.

April 22, 2008