Westpoint Stevens Inc. Closes Agreement To Acquire Bibb Towel Operations

Business Wire, Feb 25, 1997

WEST POINT, Ga.--(BUSINESS WIRE)--Feb. 25, 1997--WestPoint Stevens Inc. (Nasdaq/NM:WPSN) (http:www.westpointstevens.com) today announced that it has closed the previously announced agreement with the Bibb Company to purchase substantially all assets related to Bibb's towel operations in Roanoke Rapids, North Carolina. The closing of the transaction occurred on February 21, 1997.

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.

CONTACT: WestPoint Stevens, Inc., West Point

Morgan M. Schuessler, 706/645-4230