Speizman Industries Martint Agree To Joint Venture

Speizman Industries, Charlotte, N.C., has signed a joint venture agreement with Martint Equipment
Co., Cornelius, N.C., to distribute Braun dye/extracting machines worldwide. Martint has the
exclusive right to sell Braun dye/extracting machine principally to the textile industry through a
worldwide distributorship agreement with Syracuse, N.Y.-based G.A. Braun Inc.The terms of the
agreement between Speizman and Martint end in January 2004. The companies have agreed to work
together to acquire additional textile wet-processing equipment rights. We are excited about
selling Brauns pocketed textile-dyeing machines in North America and other international areas that
we feel are poised for growth. This joint venture will combine the strengths of Martints sales and
marketing department and Speizmans global network of sales agents and reputation for service, said
Robert S. Speizman, president and CEO, Speizman Industries.

April 2001