Mount Vernon Signs Agreement With Nisshinbo

Mount Vernon Mills Inc., Greenville, S.C., and Nisshinbo California Inc. recently announced that
they have signed a definitive agreement for Mount Vernon to purchase Nisshinbos textile
manufacturing facility and related assets in Fresno, Calif. The Fresno operation employs more than
150 people and is a leading producer of greige cotton fabric for apparel.This acquisition will
enable our Apparel Fabrics Division to significantly broaden its ring-spun offerings, particularly
those fabrics that require additional strength and superior surface treatments, said Roger W.
Chastain, president of Mount Vernon. We also will achieve greater capacity utilization in our
dyeing and finishing operations as a result.

September 1999