FOAMEX APPOINTS LEE C. STEWART

LINWOOD, PENNSYLVANIA, March 1, 2001 - Foamex International Inc. (Nasdaq: FMXI) announced today that Lee C. Stewart, 52, has been named Executive Vice President and Chief Financial Officer, effective April 2, 2001. The announcement was made by John Televantos, President and Chief Executive Officer of Foamex.

In his new capacity, Stewart will serve as an Advisory Member of the Executive Committee of the Board and will work closely with Televantos and Foamex Chairman Marshall S. Cogan on all aspects of finance, acquisitions and strategic planning. "Lee is an accomplished and creative banking executive, and an acknowledged expert on the chemical industry," Televantos said. "His extensive experience with the investment community and in corporate finance will be invaluable to us in our number one priority, debt reduction, and in further strengthening our capital structure as we position the company to take advantage of strategic growth opportunities."

Stewart joins Foamex following five years as Vice President, Treasury with Union Carbide Corporation. His responsibilities there included worldwide planning and managing of Union Carbide’s capital structure, all domestic and foreign funding, working capital, off-balance-sheet financing, risk management and foreign exchange management. He was also a member of Union Carbide’s mergers and acquisitions team and had global responsibility for all aspects of finance and risk management for the company’s joint ventures. Stewart was Chairman of Union Carbide’s Canadian Pension Fund, a member of the board of Equate Petrochemical Co. KSD and Westbridge Insurance Ltd.

From 1986 to 1996, Stewart was Senior Managing Director of Bear, Stearns & Co. Inc., where part of his responsibilities included the establishment of a specialty group which focused on investment banking services for chemical industry clients.

Stewart began his career in 1974 with The Chase Manhattan Bank, where he served as a corporate relationship banker in various assignments in the U.S. and overseas, including coverage of Chase’s chemical clients. In 1984, he moved to Midland Bank PLC as Senior Banker, managing all aspects of U.S. and British accounts both in the United States and Europe.

Stewart has an undergraduate degree in Economics from the University of Pennsylvania’s Wharton School and a Masters of International Management from the American Graduate School in Phoenix, Arizona. Additionally, he serves as a corporate director on the boards of AEP Industries and Marsulex Inc.

Foamex, headquartered in Linwood, Pennsylvania, is the world’s leading producer of comfort cushioning for bedding, furniture, carpet cushion and automotive markets. The company also manufactures high-performance polymers for diverse applications in the industrial, aerospace, electronics and computer industries as well as filtration and acoustical applications for the home.