Lonati Group Acquires Sangiacomo

The Italy-based Lonati Group has acquired Sangiacomo S.p.A., also based in Italy. The producer of
men’s, women’s and children’s hosiery machinery, as well as seamless knitting machines, will
maintain its current business arrangement.

Under its new ownership, Sangiacomo will produce single-cylinder circular knitting machines
and new machinery for seamless garments, with emphasis on sportswear, underwear, casual apparel and
bathing suits.

July 2004