Silva Acquires Liberty Fabrics

Silva Acquisition Corp., Lowland, Tenn., has purchased the assets of Lowland-based Liberty Fibers
Corp., the last remaining rayon staple manufacturer in North America. According to Craig E. Barker,
president and CEO, Silva Acquisition, the purchase, which includes the company’s name and other
intellectual property, will enable liquidation of the original company, while Silva Acquisition
continues to operate the business as Liberty Fibers Corp., maintaining a workforce of approximately
350 and improving efficiency and profitability. Barker said the new company is working to rebuild
its raw material base, and to increase production and sales in the coming months.

August 2004