Magazine Reports that Investor to buy Collins & Aikman

NEW YORK, May 29, 2006; Reuters reported that Collins & Aikman Corp. is likely to name Third Avenue Management LLC. as the successful bidder to buy and recapitalize the bankrupt auto interiors supplier, according to Automotive News.

A deal of this kind would help the auto interiors supplier emerge from Chapter 11 bankruptcy protection, said the article in the May 29 edition, quoting sources familiar with the negotiations.

The selection of Third Avenue as the sponsor to take Collins & Aikman out of Chapter 11 would have to be approved by creditors and by the U.S. Bankruptcy Court.

Automotive News says that both Collins & Aikman and Third Avenue declined to comment.

A spokesman for Collins & Aikman told Reuters that due to confidentiality agreements he could not comment. Third Avenue could not be reached immediately for comment.