FFT CEO Retires, New CEO Named

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PRESS RELEASE:  For Immediate Release

April 9, 2007

Contact:  Bonnie Morissette   207-784-1125


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Formed Fiber Technologies Announces the Retirement of David MacMahon,
Names Mark Bennett President & CEO


AUBURN, ME -- Formed Fiber Technologies, Inc., (FFT) announces the
retirement of long-time President and CEO David MacMahon, effective
April 15,  2007.  MacMahon will become Vice Chairman of the FFT Board of
Directors, focusing on strategic issues.  Mark Bennett has been named to
succeed MacMahon as president & CEO.

Citing a desire to spend more time with family, MacMahon had been
planning his retirement for some time and decided now is a good point in
the company's growth for him to step back from the day-to-day
operations.

MacMahon has led FFT (formerly Gates Formed-Fibre Products, Inc.- GFFP)
since its inception.  Under his leadership, the company grew from a
small start-up to the leading manufacturer of automotive trunk trim
systems.

In 2003, GFFP was acquired by Morgenthaler Partners, a middle-market
private equity firm and renamed Formed Fiber Technologies, Inc.  FFT
doubled in size over the last five years and today has annual sales of
over $150 million and 1,000 associates at manufacturing facilities in
Maine, Ohio, and South Carolina.

Bennett has over 24 years experience in the automotive industry.  Since
1999, he was President and CEO with McKechnie Vehicle Components.   He
began his career as a Material Handling Manager with Arrow Molded
Plastics, and advanced rapidly to Plant Manager.   A native of Maine, he
received a bachelor's degree in Production & Operations Management from
Ohio State University.

FFT Chairman Fred Festa said the company's board of directors strongly
supports Bennett and the FFT management team, and is confident the
company is in good hands.  "Mark knows the automotive supply business,
personifies our company's values, and has a hands-on management style.
His extensive manufacturing and management experience will make him an
ideal leader."

Commenting on his appointment, Bennett said, "Thanks to David's
guidance, FFT is very well positioned in the automotive interiors
market.  I am excited about this opportunity to lead FFT into the
future."

About FFT
Formed Fiber Technologies is the leading supplier of molded, nonwoven
system solutions to North American automotive OEMs and Tier 1 automotive
suppliers.  FFT has over 1,000 associates at three manufacturing
facilities in Maine, Ohio and South Carolina.  For more information
about FFT, visit www.formedfiber.com <http://www.formedfiber.com/>  .

About Morgentaler Partners
Morgenthaler is a leading national buyout and venture-capital firm with
offices in Boston, MA; Boulder, CO; Cleveland, OH; Menlo Park, CA; and
Princeton, NJ.  The firm has approximately $2.5 billion under management
and has funded more than 250 companies over its 38-year history.  For
more information about Morgenthaler Partners, visit www.morgenthaler.com
<http://www.morgenthaler.com/>  .