National Spinning Acquires Two Glen Raven Facilities

National Spinning AcquiresTwo Glen Raven FacilitiesNational Spinning Co. Inc., Washington, N.C.,
has acquired the open-end spinning and package-dyeing business of Glen Raven, N.C.-based Glen Raven
Inc. The acquisition includes two plants located in Alamance County, N.C., which are now integrated
into Nationals operations as Alamance Spinning Plant and Alamance Dyeing Plant of National
Spinning. More than 200 associates at the plants are now among Nationals base of 1,600
owner-associates.Despite being in an environment that has not favored domestic textile producers,
National is fortunate to be in a position to expand its core business, said Jim Chestnutt,
president and CEO, National. This move will emphasize our commitment to U.S.-based manufacturing
and North American/Caribbean markets. We will continue to support our customers with the highest
quality products and service, to assure their success in difficult markets.
January 2002