GREENSBORO, N.C., Feb. 16 /PRNewswire/ — Burlington Industries, Inc. (NYSE: BUR) announced today
that it has sold its tufted bath and area rug business located in Monticello, Arkansas to the
Yanoor Corporation, a holding company owned by Saeid Korhani. The business will operate under the
name Burlington Rug Corporation. Ralph Grogan, President of Burlington House Floor Accents said,
“We are very pleased that this facility will continue as an ongoing operation serving both the
marketplace and providing employment for our associates. Burlington has a long history in
Monticello. Both the employees and the community have always shown great support and dedication. We
wish Yanoor and all its associates much success in their new company.” Commenting on the sale,
Roger Miller, President of Burlington Rug Corporation said, “We are very pleased to have concluded
this purchase. We intend to quickly diversify the product line and move the company forward.”
Burlington announced in October 2000 that it would exit the tufted area rug portion of its
Burlington House Floor Accents business. This press release contains statements that are
forward-looking statements within the meaning of applicable federal securities laws and are based
upon the company’s current expectations and assumptions, which are subject to a number of risks and
uncertainties that could cause actual results to differ materially from those anticipated. Such
risks and uncertainties include,among other things, global economic activity, the success of the
company’s overall business strategy, the company’s relationships with its principal customers and
suppliers, the success of the company’s operations in other countries, the demand for textile
products, the cost and availability of raw materials and labor, the company’s ability to refinance
and service its existing debt and to finance its capital expenditures and working capital needs,
the level of the company’s indebtedness and the exposure to interest rate fluctuations,
governmental legislation and regulatory changes, and the long-term implications of regional trade
blocs and the effect of quota phase-out and lowering of tariffs under the WTO trade regime and of
the changes in U.S. apparel trade as a result of recently-enacted Caribbean Basin and Sub-Saharan
African trade legislation. Other risks and uncertainties may also be described from time to time in
the company’s other reports and filings with the Securities and Exchange Commission.SOURCE
Burlington Industries, Inc.Web Site: http://www.burlington-ind.comCopyright 2001 PR News wire
