Paragon Announces Change in Securities Listing
Norcross, Georgia (PROTEXT)
Paragon Trade Brands, Inc. (NYSE: PTB) in conjunction with the New York Stock Exchange ("NYSE") today announced that trading in the common stock of the Company will be suspended prior to the opening of trading on Thursday, July 8, 1999, or such earlier date as i) the Company commences trading in another securities marketplace; ii) information is received that the Company does not meet the listing requirements of the other securities marketplace; or iii) the Company makes a material adverse news announcement. As a result of the financial statement impact of costs related to the unfavorable patent infringement judgment and Chapter 11 filing, as well as costs related to the settlement of other litigation matters, the Company no longer fully satisfies all of the guidelines of the NYSE for continued listing. Application for listing the Company's shares by the National Quotation Bureau and on the OTC Bulletin Board will be made shortly. Paragon Trade Brands is the leading manufacturer of store brand infant disposable diapers in the United States and Canada. Paragon manufactures a line of premium and economy diapers, training pants, and feminine care and adult incontinence products, which are distributed throughout the United States and Canada, primarily through grocery and food stores, mass merchandisers, warehouse clubs, toy stores and drug stores that market the products under their own store brand names. Paragon has also established international joint ventures in Mexico, Argentina, Brazil and China for the sale of infant disposable diapers and other absorbent personal care products. Statements made in this press release, other than those concerning historical information, should be considered forward- looking statements. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in the Company's forward-looking statements. Factors which could affect the Company's financial results, including, but not limited to: the Company's Chapter 11 filing; increased raw material prices; new product and packaging introductions by competitors; increased price and promotion pressure from competitors; new competitors in the market; Year 2000 compliance issues; and patent litigation, are described in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof, and which are made by management pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. ots Original Text Service: Paragon Trade Brands, Inc. Internet: http://www.newsaktuell.de Contact: Kurt P. Ross or Guy B. Lawrence of K.P. Ross, Inc., 212-308-3333, or email, firstname.lastname@example.org , or Alan J. Cyron, Executive Vice President and Chief Financial Officer of Paragon Trade Brands, Inc., 678-969- 5200
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