Michael W. Apperson new President/CEO of American Fibers and Yarns Company

Michael W. Apperson new President/CEO of American Fibers and Yarns Company

May 18, 2001

PRESS RELEASE

Michael W. Apperson has joined American Fibers and Yarns as President and Chief Executive Officer, replacing Frank Andrusko. Mike has a demonstrated track record of improving business performance and achieving growth. He has held various leadership positions with DuPont, Allied Signal and most recently with Kidde Safety where he was President and CEO.

Frank Andrusko will continue with the company in the role of Advisor to the President and will be responsible for special projects, including bringing to fruition several business improvement efforts and assuring continued progress on new business initiatives. Frank commented, “My emphasis will be to develop new opportunities AFY has that will significantly enhance our growth.”

Mike commented, “I'm excited to join the AFY team and to help continue its tradition of providing quality products and solutions to its customer base. Our focus will be to grow the business and continue the drive to establish AFY as a leading filament yarn supplier.”

American Fibers and Yarns manufactures polypropylene filament yarns in Afton, VA, Rocky Mount, NC, and Bainbridge, GA with Headquarters in Cumming, GA and Sales and Marketing offices in Greenville, SC.

For further information contact:

David B. Gray

Manager, Advertising and Promotions

864/627-3330