Unifi Receives Distribution From Parkdale America LLC

GREENSBORO, N.C., Feb. 15 /PRNewswire/ — Unifi, Inc., (NYSE: UFI)(“Unifi”) and Parkdale Mills Inc.
(“Mills”) have completed a restructuring of the balance sheet of their jointly owned company,
Parkdale America, LLC(“America”). As a result of the restructuring, a distribution in the form of a
return of capital has been made by America to Unifi and Mills in amounts proportionate to their
respective percentage ownership interests in America.The distribution received by Unifi of $49.2
million will be applied to the retirement of outstanding debt. Following completion of the
restructuring and distribution, Unifi will retain a 34% ownership interest in America. Unifi is the
largest producer and processor of textured yarns in the world. Its primary business is the
texturing, dyeing, twisting, covering, and beaming of multi-filament polyester and nylon yarns.
Unifi’s textured yarnsare found in home furnishings, apparel and industrial fabrics,
automotive,upholstery, hosiery, and sewing thread. CAUTIONARY STATEMENT ON FORWARD-LOOKING
STATEMENTS Certain statements included herein are “forward-looking statements” within the meaning
of the federal securities laws. Management cautions that forward-looking statements are not
guarantees and that actual results could differ materially from those expressed or implied in the
forward-looking statements. Important factors that could cause the actual results of operations or
financial condition of the Company to differ include, but are not necessarily limited to, sourcing
and pricing of raw materials, pressures on sales prices and volumes due to competition and economic
conditions,reliance on and financial viability of significant customers, technological
advancements, employee relations, changes in construction spending and capital expenditures
(including those related to unforeseen acquisition opportunities), continued availability of
financial resources through financing arrangements and operations, negotiation of new or
modifications of existing contracts for asset management and for property and equipment
construction and acquisition, regulations governing tax laws, other governmental and authoritative
bodies’ policies and legislation, the continuation and the magnitude of the Company’s common stock
repurchase program and proceeds received from the sale of assets held for disposal. In addition to
these representative factors, forward-looking statements could be impacted by general domestic and
international economic and industry conditions in the markets where the Company competes, such as
changes incurrency exchange rates, interest and inflation rates, recession and other economic and
political factors over which the Company has no control.Investors are also directed to consider the
risks and uncertainties discussed in documents filed by the Company with the Securities and
Exchange Commission.SOURCE Unifi, Inc.Web Site: http://www.unifi-inc.com Copyright 2001 PR Newswire