Foamex Names Televantos As New President And Chief Executive Officer

    LINWOOD, Pa.--Jan. 30, 2001--Foamex International Inc. announced today that John Televantos, 48, has been elected President and Chief Executive Officer of the company, effective immediately.
    The announcement was made by Marshall S.Cogan, Chairman of the Foamex Board of Directors. Televantos replaces John G. Johnson, Jr., who resigned after two years at the company's helm.
    "John is intimately familiar with every aspect of Foamex's operations," Cogan said. "We are extremely fortunate to have someone with his strategic vision, leadership ability and extensive industry knowledge ready to lead our company to future success."
    Televantos, who has broad experience in the polyurethane industry, joined Foamex in 1999 as President of the company's Foam Business Group. He was named Chief Operating Officer and a member of the Foamex Board in 2000.
    Prior to joining Foamex, Televantos had been Vice President, Business Development at Lyondell Chemical Company, which he joined in 1998 as part of that company's acquisition of ARCO Chemical Company. He had spent nine years with ARCO, most recently as Director of Urethane Development, and prior to that, Director of Strategic Planning and Commercial Development. Televantos, who holds a PhD in Chemical Engineering from the University of London, began his career with Union Carbide Corporation in 1977, serving in a number of urethane product development and research positions.
    Commenting on Johnson's resignation, Cogan said, "We greatly appreciate Jack's many contributions during a difficult transition period for our company. In his two years with Foamex, Jack stabilized the company's financial structure and built a strong management team. We wish him well in his future endeavors."
    Televantos will host a conference call for investors at noon today. The phone number to participate in the call is 888-945-5890. International callers should call 312-470-7405.
    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. For more information visit the Foamex web site at http://www.foamex.com.