For the first six months of fiscal 2007, sales totaled $121.6 million, compared with $129.3
million for the first half of 2006; and net income totaled $946,000, or 8 cents per diluted share,
compared with a loss of $8.1 million, or 70 cents per share, for the same year-earlier period.

“We are pleased with our solid execution during a challenging period for the retail home
furnishing industry,” said Robert G. Culp III, chairman and CEO, Culp Inc. “While our top line
results reflect the furniture industry slowdown and related inventory correction, we continued to
make progress in improving our operating performance in both mattress ticking and upholstery
fabrics. The changes we have made in each of our operating segments have enabled us to operate more
efficiently, even on lower volumes.”

In the mattress ticking segment, the company reported lower sales, reflecting reduced demand
for printed ticking, although knitted ticking sales continued a growth trend that is expected to
endure. Total Q2 sales were $23.5 million, compared with $24 million for the year-earlier period.

Upholstery fabric sales declined from $43 million in Q2 2006 to $35.5 million in the most
recent quarter. While US-produced fabric sales dropped 51 percent to $14.9 million, non-US-produced
fabric sales grew by 65 percent to $20.6 million. Continuing weakness in the US-produced upholstery
fabric segment has led the company to reduce its domestic employee base to 320 people at the end of
Q2 2007 from 534 at the end of fiscal 2006 and 1,484 at the end of fiscal 2005, Culp noted.

The magnum opus of Indian fashion business, IFF, is scheduled for January 23-24, 2007, at
the fabulous Renaissance Hotel in the business capital of India — Mumbai.

More than 2,000 captains of the fashion retail world are participating in various events of
IFF like Asia Shop, Spring Board, Franchise Expo, The Future Shop, L Cube, Retail Access, Fashion
Theater, and The Evening of Fashion Titans. The Forum culminates in the Lycra® Images Fashion
Awards, with more than 20 presentations in an “Academy Awards” type atmosphere —- a
not-to-be-missed gala!

Established in 1992, IMAGES Multimedia Group has played a vital role in organizing the
fashion and retail businesses in India, and has successfully set up an information exchange via
media that equips the trade with the knowledge that drives the fashion and retail businesses across
the globe. Establishing a continuous flow of information through its activities facilitating
networking amongst investors, retailers, and brand leaders, IMAGES has emerged as the most vibrant
link between the marketers and the marketplace.

For more information, log on to www.imagesfashionforum.com, or call WDA BrandMarketing at
908-281-3833

Release courtesy of WDA BrandMarketing

Fiberweb expanded the capabilities at Bethune in order to meet market demand for more
natural-fiber-based baby, personal-care and home-care wipe applications. In addition to
manufacturing specialty carded and spunlace roll goods for those applications, that facility also
produces case goods for graphics arts applications.

“This demonstrates Fiberweb’s intention to make selected investments that meet emerging
needs in the marketplace for tailored nonwovens that deliver real benefits to consumers,” said Dave
Rousse, president, Fiberweb Hygiene/Medical Americas.

A native of Austria, Strolz graduated in 1961 from the University of Vienna as a doctor in
law. The following year, he joined the foreign trade department of the Austrian Federal Chamber of
Commerce; and in 1963 was named Austrian Trade Commissioner in Caracas, Venezuela. In 1968, he
moved on to the Austrian Foreign Trade Office in Montreal. That same year, Strolz was named
director of the Austrian Federation of Industries and also managed the textile and clothing
department of the Chamber of Commerce of Vorarlberg, Austria.

Strolz’s career at ITMF began in 1970, when he became director of the Switzerland-based
International Federation of Cotton and Allied Textile Industries, which changed its name to
International Textile Manufacturers Federation in 1978. Under Strolz’s leadership, the federation
has become the foremost global trade association for the basic textile industry, currently counting
among its membership textile trade associations and other entities from nearly 50 textile-producing
countries.

In recognition of his leadership in the global textile industry, Strolz received the
Schlafhorst Foundation’s Golden Jenny Award in 1991 and was named Textile World’s Leader of the
Year in 2001.

Dr. Christian Schindler, currently director, ITMF, has been named to succeed Strolz as the
federation’s director general. Schindler, a native of Germany, earned his doctorate from the
University of Cologne, Germany, where he studied at the Institute for Economic Policy. He joined
ITMF in 2004 as the federation’s economist.

Safety Solutions contacted Beth Moore, managing director of operations, Optimer, in its
search for a solution to problems presented by polyester-based moisture-wicking fabrics, which
could melt and fuse to the skin when subjected to the sudden extreme heat and flames caused when an
explosive device is detonated — causing more serious injury than would occur otherwise. Because of
this hazard, the US Marine Corps earlier this year had prohibited wearing of polyester and
nylon-based performance clothing outside forward operating bases and camps in Iraq.

“It took two years in development, but the result is everything that Safety Systems asked
for,” Moore said. “In addition to its typical moisture-management capabilities, the new dri-release
FR version is not only self-extinguishing, it quickly turns to ash and most definitely, does not
melt or drip.”

The new driFIRE products also include FreshGuard®, Optimer’s environmentally friendly
odor-neutralizing technology, which is added to all dri-release fabrics.

Competition objectives include: the exposition of practical innovative concepts and problem
solutions concerning the use of textiles and textile-reinforced materials in buildings; support and
assistance for students and newcomers in the sector; and promotion of contacts among students,
universities, the technical-textile industry and building industry sectors. Werner Sobek, a
professor at the Institute for Lightweight Structures and Conceptual Design, University of
Stuttgart, Germany, is scientific director of the competition and chairman of the international
jury that will evaluate the competition. Prize money totaling 8,000 euros will be awarded during
Techtextil in the categories of macro-architecture, micro-architecture, environment and ecology,
and composites and hybrid structures.

Competition rule details may be found at
www.techtextil.com. For more information,
contact Katrin Müller 49 69 7575 6553; fax 49 69 7575 96553; katrin.mueller@messefrankfurt.com.

From Jan. 1, 2007, Santex Project + Sales will cease to exist. The newly founded Swisstex
Machinery Inc., based in Pfaffhausen, Switzerland, under the direction of Uwe J. Sick — until this
time project and sales director, Santex AG — along with current Santex Project + Sales associates
and with support from a network of experienced specialists, will focus on complete textile
finishing projects including, in particular, new knitted fabric finishing plants, extensions and
modernizations. Project packages will include production systems, infrastructure, a range of
engineering services, building services, automatization, logistics, and plant maintenance.

Until its acquisition by Zimmer in 2003, Fleissner was a family-owned company founded in
1848 originally as a blacksmith’s workshop. In the ensuing years, the company grew to include an
iron foundry, and soon began to provide products to various sectors of the local textile industry.
Today, it specializes in aqua-jet entangling lines for the nonwovens sector, man-made staple fiber
production lines, through-air drying lines and textile finishing lines.

Hans-Georg Buckel and Jürgen Heller, Ph.D., will continue as managers of Fleissner, which
currently employs 350 people.

The Trützschler Group, which has subsidiaries in six countries and some 2,200 employees
globally, acquired shares of Germany-based nonwovens machinery manufacturer Erko in 2005. According
to Trützschler, Fleissner’s product line, particularly for the nonwovens sector, will complement
the Erko Trützschler line of nonwovens machinery, enabling the supply of complete lines for that
sector.

Trützschler also produces nonwovens machinery in the United States at its Charlotte-based
subsidiary, American Truetzschler, which also services the machinery. It also maintains production
and service operations in Brazil, China and India.