American Fibers & Yarns Relocating its Corporate Headquarters and Sales/Marketing Offices to Chapel Hill, North Carolina

02/04/02- American Fibers and Yarns Company will be relocating its Corporate Headquarters and Sales and Marketing offices to Chapel Hill, North Carolina. Corporate Headquarters are currently based in Cumming, Georgia with Sales and Marketing offices in Greenville, South Carolina. Personnel from both loctions will be relocating to the Chapel Hill area. Additional support personnel will be hired locally.

"Chapel Hill is a location in close proximity to the majority of our Southeastern customer base", says Michael Apperson, President and CEO. "The ability to respond quickly to customer needs is increasingly important as the Home Furnishings business becomes more complex and requires immediate critical issue resolution. Being geographically closer to the customer base will facilitate the integration of our business processes with those of our customers. In addition, the move will put key personnel closer to our manufacturing sites." Says Apperson, "Our commitment to this business is unwavering. Our business continues to grow and our goal is to earn the right to be our customers' supplier of choice."

Decentralization of the marketing and sales teams closer to the customer base is already in process and will be completed in the first quarter of 2002.

American Fibers and Yarns Company was formed in 1999 as a spin off from BP/Amoco and is a premier supplier of filament yarn to the upholstery, apparel, automotive and industrial markets.