Cone Denim Jiaxing Selects Sultex Projectile Looms

Cone Denim Jiaxing Ltd. — a
China-based joint venture of the Greensboro, N.C.-based International Textile Group and Hong
Kong-based Novel Holding Ltd. — has purchased 140 Sulzer Textil P7300HP projectile weaving machines
from Switzerland-based Sultex Ltd. The denim manufacturer, which will use the new machines in its
new plant in Jiaxing, Zhejiang, expects the installation will be complete in the second half of

K.C. Chao, CEO, Cone Denim Jiaxing, said the decision to purchase the Sulzer Textil machines
was based on Cone Denim’s satisfactory experience using Sulzer Textil machinery at other
manufacturing plants and with the quality of the fabrics produced. “In addition,” he said, “we have
worked with Sultex as a manufacturer and supplier of weaving machines for a long time, and we
appreciate Sultex’s technical service capabilities and textile competencies.”

January 1, 2006