Springs, Owen Sign Blanket Agreement

Springs Industries Inc., Fort Mill, S.C., and Charles D. Owen Manufacturing Co., Swannanoa,
N.C., have signed an agreement for Owen to produce and market blankets, throws, bedspreads and
related products under Spring’s Springmaid®, Wamsutta® and associated brands.

The product line will coordinate with Springs designs and colors; and with Springs bedroom
and bath product lines, and window treatments. New products and packaging will be introduced during
the April home fashions market at both the Owen showroom and the Springs showroom in New York City.

“We are proud to market the strong, well-recognized and valued brands of Springs through this
new agreement,” said Charles D. Owen Jr., CEO, Owen. “We plan to introduce innovation and
creativity to this product line and to elevate blankets to new levels for retailers.”

April 2003