Burlington Completes Refinancing Of Credit Facility

GREENSBORO, N.C., Dec. 6 /PRNewswire/ — Burlington Industries, Inc.(NYSE: BUR) announced today
that it has entered into an amended and restatedbank credit facility with its existing lenders
which extends the maturity ofthe facility for up to two and one-half years. The facility provides
forrevolving and overnight loans and letters of credit aggregating $600 million.Under the amended
facility, the company has unused capacity of $175 million asof this date.Loans under the amended
facility will bear interest at LIBOR plus 3.25% orthe prime rate plus 2.25%. Unused portions of the
total commitment bear acommitment fee of 0.50%. Loans are now secured by a first priority lien
onsubstantially all of the company’s U.S. assets (excluding receivables whichcontinue to secure a
five year $225.0 million trade receivables financingagreement). The amended bank credit facility
commitment reduces to $525.0million on September 30, 2001 and to $450.0 million on September 30,
2002.Financial and negative covenants in the amended facility are more restrictive. George W.
Henderson, III, Chairman and Chief Executive Officer, said, “Weare pleased to have concluded these
financial agreements. This creditfacility is visible evidence of the strong continuing support from
ourlenders. The liquidity and financial flexibility provided by this financingwill enable us to
move forward with confidence as we work to improveoperations and reduce debt.” This press release
contains statements that are forward-looking statementswithin the meaning of applicable federal
securities laws and are based uponthe company’s current expectations and assumptions, which are
subject to anumber of risks and uncertainties that could cause actual results to differmaterially
from those anticipated. Such risks and uncertainties include,among other things, global economic
activity, the success of the company’soverall business strategy including successful implementation
of the company’sfive-point plan, the company’s relationships with its principal customers
andsuppliers, the success of the company’s expansion in other countries, thedemand for textile
products, the cost and availability of raw materials andlabor, the company’s ability to finance its
capital expansion andmodernization programs, the level of the company’s indebtedness, ability
torefinance, and the exposure to interest rate fluctuations, governmentallegislation and regulatory
changes, and the long-term implications of regionaltrade blocs and the effect of quota phase-out
and lowering of tariffs underthe WTO trade regime and of the changes in U.S. apparel trade as a
result ofrecently enacted Caribbean Basin and Sub-Saharan Africa trade legislation.SOURCE
Burlington Industries, Inc.Web Site: http://www.burlington-ind.com

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