Thomaston Mills Retains Business Broker

Apr 30, 2001, 01:00 ET from Thomaston Mills, Inc.

    THOMASTON, Ga., April 30 /PRNewswire/ --
 Thomaston Mills, Inc. (OTC Bulletin Board:   TMSTA, TMSTB) announced today that
 it had engaged Equity Partners, Inc. to solicit offers for the Company.
     A. William Ott, Acting President and Chief Executive Officer of Thomaston
 Mills, said the Company will work with Equity Partners to explore interest in
 the potential sale of the Company in its entirety or in segments.  "This is a
 step to maximize the interests of our lenders and other stakeholders, and was
 taken as the Company continues to be out of compliance with certain covenants
 in its loan agreements."  Ott continued, "When I took over the reins of this
 Company 2 months ago, I saw a clear vision and worked with senior management
 to construct and begin implementing a customer focused strategic plan.  We
 have a portfolio of customers and product placements that could be a wonderful
 opportunity for a buyer."
     Equity Partners, Inc expects to have prospects tour the facilities over
 the next four weeks leading to a variety of options for management to
 consider.  "This represents an opportunity for a buyer to acquire the business
 or a major portion of the business, without having to acquire all of the
 facilities," according to John Herman of Equity Partners, Inc.  Equity
 Partners, Inc. was founded in 1988 and has completed over 225 transactions.
     Thomaston Mills, Inc. has enjoyed over 100 years of continuous operation
 and is a fully integrated textile company with sales of $167 million in its
 most recent fiscal year.  The Company operates 4 facilities in Thomaston,
 Georgia, and employs over 1400 people.  The Company produces bedding products
 for the retail and institutional markets as well as piece dyed apparel fabrics
 for the sportswear and career apparel markets.
 
     FORWARD-LOOKING STATEMENTS:  Certain of the above statements contained
 herein constitute forward-looking statements within the meaning of the Private
 Securities Litigation Reform Act of 1995.  Such forward-looking statements
 involve known and unknown risks, uncertainties and other factors which may
 cause the actual results, performance or achievements of the Company to be
 materially different from any future results, performance or achievements
 express or implied by such forward-looking statements.  Such factors include,
 among other things, business conditions, volatility of commodities markets,
 ability to control operating costs, developing successful new products and
 maintaining effective pricing and promotion of its products.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X73247665
 
 

SOURCE Thomaston Mills, Inc.
    THOMASTON, Ga., April 30 /PRNewswire/ --
 Thomaston Mills, Inc. (OTC Bulletin Board:   TMSTA, TMSTB) announced today that
 it had engaged Equity Partners, Inc. to solicit offers for the Company.
     A. William Ott, Acting President and Chief Executive Officer of Thomaston
 Mills, said the Company will work with Equity Partners to explore interest in
 the potential sale of the Company in its entirety or in segments.  "This is a
 step to maximize the interests of our lenders and other stakeholders, and was
 taken as the Company continues to be out of compliance with certain covenants
 in its loan agreements."  Ott continued, "When I took over the reins of this
 Company 2 months ago, I saw a clear vision and worked with senior management
 to construct and begin implementing a customer focused strategic plan.  We
 have a portfolio of customers and product placements that could be a wonderful
 opportunity for a buyer."
     Equity Partners, Inc expects to have prospects tour the facilities over
 the next four weeks leading to a variety of options for management to
 consider.  "This represents an opportunity for a buyer to acquire the business
 or a major portion of the business, without having to acquire all of the
 facilities," according to John Herman of Equity Partners, Inc.  Equity
 Partners, Inc. was founded in 1988 and has completed over 225 transactions.
     Thomaston Mills, Inc. has enjoyed over 100 years of continuous operation
 and is a fully integrated textile company with sales of $167 million in its
 most recent fiscal year.  The Company operates 4 facilities in Thomaston,
 Georgia, and employs over 1400 people.  The Company produces bedding products
 for the retail and institutional markets as well as piece dyed apparel fabrics
 for the sportswear and career apparel markets.
 
     FORWARD-LOOKING STATEMENTS:  Certain of the above statements contained
 herein constitute forward-looking statements within the meaning of the Private
 Securities Litigation Reform Act of 1995.  Such forward-looking statements
 involve known and unknown risks, uncertainties and other factors which may
 cause the actual results, performance or achievements of the Company to be
 materially different from any future results, performance or achievements
 express or implied by such forward-looking statements.  Such factors include,
 among other things, business conditions, volatility of commodities markets,
 ability to control operating costs, developing successful new products and
 maintaining effective pricing and promotion of its products.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X73247665
 
 SOURCE  Thomaston Mills, Inc.