Collins & Aikman Signs Agreement To Acquire Joan Fabrics Auto Operations

    TROY, Mich., Aug. 20 Collins & Aikman Corporation
announced today that it has signed a definitive agreement for its
previously announced acquisition of the automotive fabric operations of Joan
Fabrics and all of the operating assets in Joan's affiliated yarn dying
operation, Western Avenue Dyers.  The terms are as previously announced on
April 18th with a targeted third quarter closing.