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Foamex News/Financial Results

 

JOHN V. TUNNEY NAMED FOAMEX VICE CHAIRMAN

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LINWOOD, PENNSYLVANIA, August 10, 2001 - Foamex International Inc. (NASDAQ: FMXI), the leading manufacturer of flexible polyurethane and advanced polymer foam products, announced today that John V. Tunney has been named Vice Chairman of the company's Board of Directors.

Tunney has been a Foamex director since 1994. His new position is in addition to his responsibilities as Chairman of the Board of both Foamex Asia and Foamex Mexico, Inc. In making the announcement, Foamex founder and Chairman Marshall S. Cogan said, "John's wisdom and guidance has been invaluable to the Board in establishing a strong international presence for our company. In his expanded capacity, he will work closely with Foamex President John Televantos and me to develop further long-term business opportunities, both here and abroad."

Tunney has been Chairman of the Board of Cloverleaf Group, Inc., an investment company, since 1981; a partner of Sun Valley Ventures, a venture capital firm, since 1995; and President of JVT Consulting Inc. since 1997. A former member of Congress and Senator from the State of California, Tunney is Vice Chairman of the Board of the Corporate Fund for Housing and a member of the Board of Directors of Swiss Army Brands, 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. Revenues for 2000 were $1.3 billion. For more information visit the Foamex web site at http://www.foamex.com.


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