Aldila to Repurchase Up to 1.0 Million Shares of Common Stock.

Business Editors & Sports Writers

POWAY, Calif.--(BUSINESS WIRE)--Jan. 17, 2001

Aldila Inc. (NASDAQ/NMS:ALDA) today announced that its board of directors has authorized the repurchase of up to 1.0 million shares of the company's common stock (or up to 6.5% of the 15,462,204 shares currently issued and outstanding.)

"We believe that the company's common stock is undervalued at its current price and will represent an attractive investment opportunity for the company as well as its stockholders," said Peter R. Mathewson, chairman and CEO.

The shares will be repurchased from time to time in the market at then prevailing prices, depending on the market and general economic conditions, Aldila said.

Aldila is the golf industry's leading manufacturer of graphite golf shafts used in clubs assembled and marketed throughout the world by major golf club companies, component distributors and custom clubmakers. Aldila manufactures composite prepreg material for its golf shaft business and external sales, and through its ownership interest in Carbon Fiber Technology LLC, externally manufactures carbon fiber for internal use.

This press release contains forward-looking statements based on our expectations as of the date of this press release. These statements necessarily reflect assumptions that we make in evaluating our expectations as to the future. They are also necessarily subject to risks and uncertainties. Our actual future performance and results could differ from that contained in or suggested by these forward-looking statements as a result of a variety of factors. Our filings with the Securities and Exchange Commission present a detailed discussion of the principal risks and uncertainties related to our future operations, in particular under "Business Risks" in Part I, Item 1 of our Annual Report on Form 10-K for the year ended Dec. 31, 1999, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part I, Item 7 of the Form 10-K, and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Item 2 of our Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2000. The forward-looking statements in this press release are particularly subject to the risks that

-- we will not maintain or increase our market share at our principal
customers;

-- demand for clubs manufactured by our principal customers will decline,
thereby affecting their demand for our shafts;

-- our principal customers will be unwilling to satisfy a greater portion of
their demand with clubs manufactured in China or Mexico instead of the United
States;

-- new product offerings will not achieve success with consumers or OEM
customers;

-- we will not achieve success marketing shafts to club assemblers based in
China;

-- our international operations will be adversely affected by political
instability, currency fluctuations, export/import regulations and other risks
typical of multi-national operations, particularly those in less developed
countries, and

-- Carbon Fiber Technology LLC will be unsuccessful as a result, for example,
of internal operational problems, raw material supply problems, changes in
demand for carbon fiber based products, or difficulties in operating a joint
venture.

For additional information about Aldila Inc., contact the company's Web site at www.aldila.com.