Collins & Aikman to Acquire Automotive Operations of Joan Fabrics

    TROY, Mich., June 7 Collins & Aikman Corporation
announced today that the waiting period for its proposed
acquisition of the automotive business of Joan Fabrics under the U.S. Hart-
Scott-Rodino (HSR) Antitrust Improvements Act of 1976 has expired.

    On April 18, 2001, Collins & Aikman announced that it had signed a letter
of intent to purchase the automotive fabrics operations of Joan Fabrics, a
privately owned Tyngsboro, Massachusetts-based company.  Upon completion, the
acquisition will combine the "best-of-the-best" of both Collins & Aikman's and
Joan's broad capabilities, including fabric styling, development, production
and finishing technologies, creating significant efficiencies for interior
integrators, suppliers, and automotive manufacturers.  The transaction is
expected to close in the third quarter of 2001.