Burlington To Sell Bedding Window Businesses

Burlington To SellBedding, Window BusinessesGreensboro, N.C.-based Burlington Industries Inc. and
Fort Mill, S.C.-based Springs Industries Inc. have signed a letter of intent for the sale of
Burlingtons bedding and window consumer products businesses.At
TWs presstime, the companies were in the process of negotiating a definitive agreement.The
purchase by Springs, which is subject to the approval of the U.S. Bankruptcy Court, would include
certain assets, inventory and intellectual properties, including a license to use the Burlington
House® name. As well, the companies plan to enter an agreement for jacquard and decorative fabrics
for certain Springs home furnishing product lines.George W. Henderson III, Burlington chairman and
CEO, said, We are excited by the opportunity to partner with Springs. As a leader in the home
fashions industry they have the ability to grow these product lines and represent the Burlington
House name in the market. The sale of these businesses will enable Burlington to focus our
resources on growing our strong interior fabrics business.
April 2002