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Foamex News/Financial Results

 

FOAMEX INTERNATIONAL ANNOUNCES EXTENSION OF EXCLUSIVE NEGOTIATING PERIOD WITH PROSPECTIVE BUYER
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LINWOOD, PENNSYLVANIA, March 30, 2000 -- Foamex International Inc. (Nasdaq: FMXI), North America's largest manufacturer of flexible polyurethane and advanced polymer foam products, announced today that the Company has agreed to extend until April 7, 2000, the previously announced exclusive negotiating period with a potential buyer of all the Company's outstanding common stock for cash. The previously announced exclusive negotiating period expired today. 

There can be no assurance that the discussions will result in a transaction with the potential buyer, or that any transaction involving the Company will occur.

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. 

This press release contains forward-looking information, and actual results may materially vary from those expressed or implied herein. Factors that could affect these results include those mentioned in the documents filed with the Securities and Exchange Commission.



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