Westpoint Stevens Inc. Files Amendment To Registration Statement

Business Wire, Feb 12, 1997

WEST POINT, Ga.--(BUSINESS WIRE)--Feb. 12, 1997--WestPoint Stevens Inc. (Nasdaq/NM:WPSN) (http:www.westpointstevens.com) today announced that it has filed with the Securities and Exchange Commission an amendment to a registration statement covering 2,000,000 shares of WestPoint common stock owned by WPS Investors, L.P. ("WPS Investors"), an investment partnership which currently holds over 11.2 million shares of WestPoint Stevens. Prior to the consummation of the offering, the WestPoint shares covered by the registration statement will be distributed by WPS Investors to three of its indirect institutional equity holders (the "Selling Stockholders"), who will sell the shares pursuant to the registration statement. Although Holcombe T. Green, Jr., Chairman and Chief Executive Officer of WestPoint, owns a company which is the general partner of WPS Investors, and is also a limited partner of such partnership, no interests of Mr. Green in WPS Investors will be redeemed or sold.

Merrill Lynch & Co., Goldman, Sachs & Co., The Robinson- Humphrey Company, Salomon Brothers, and Wheat First Butcher Singer will be the managers on the offering.

WestPoint Stevens Inc. is a home fashions consumer products company, with a comprehensive line of branded and licensed products for the bedroom and bathroom. The Company is vertically integrated, and is the nation's leading manufacturer and marketer of bed linens, towels, comforters, and other accessories that are sold in retail outlets throughout the world. WestPoint Stevens' home fashions consumer products are marketed under the well-known brand names of ATELIER MARTEX, MARTEX, UTICA, STEVENS, LADY PEPPERELL, and VELLUX, and under licensed designer labels, including RALPH LAUREN HOME COLLECTION, SANDERSON, and HALSTON.

The registration statement relating to the 2,000,000 WestPoint common shares has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy them be accepted, until the registration statement is declared effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities. The securities may not be sold in any state where their offer or sale prior to registration or qualification under the securities law of such state would be unlawful.

The proposed offering of Debt Exchangeable for Common Stock(SM) (DECS(SM)) filed with the Securities and Exchange Commission on January 17, 1996, will not be consummated. "Debt Exchangeable for Common Stock" and "DECS" are service marks of Salomon Brothers Inc.

CONTACT: WestPoint Stevens Inc., West Point

Morgan M. Schuessler, 706/645-4230