Collins & Aikman Receives Requisite Consents for Solicitation of 11 1/2% Senior Subordinated Notes and Extends Expiration Date to February 12, 2001.

Business & Automotive Editors

TROY, Mich.--(AutomotiveWire)--Feb. 8, 2001

Collins & Aikman Corporation (NYSE:CKC) today announced that its wholly-owned subsidiary, Collins & Aikman Products Co. ("C&A Products"), has received irrevocable consents from a majority of the holders of its 11 1/2% Senior Subordinated Notes due 2006 (the "Notes"). In addition, C&A Products is extending the solicitation (which was to expire on February 8, 2001) to 5:00 p.m., New York City time, on Monday, February 12, 2001, unless further extended.

C&A Products is executing a supplemental indenture to the indenture governing the Notes, reflecting the amendments. The supplemental indenture will become operative upon the consummation of the previously announced transaction among Heartland Industrial Partners LP, Collins & Aikman Corporation and its controlling shareholders, Blackstone Capital Partners, L.P. and Wasserstein Perella Partners L.P. This announcement is not a solicitation of consents with respect to any securities.

Credit Suisse First Boston and JP Morgan Chase are the Solicitation Agents for the consent solicitation. Questions regarding the consent solicitation can be addressed to Credit Suisse First Boston at [phone] or [phone], or to JP Morgan Chase at [phone] or [phone]. Requests for materials should be addressed to MacKenzie Partners, Inc., the Information Agent, at [phone] or [phone].

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including but not limited to general economic conditions in the markets in which Collins & Aikman operates, fluctuations in the production of vehicles for which the Company is a supplier, labor disputes involving the Company or its significant customers, changes in consumer preferences, dependence on significant automotive customers, the level of competition in the automotive supply industry, pricing pressure from automotive customers, the substantial leverage of the Company and its subsidiaries, limitations imposed by the Company's debt facilities, charges made in connection with the integration of operations acquired by the Company, the implementation of the reorganization plan, changes in the popularity of particular car models or particular interior trim packages, the loss of programs on particular car models, risks associated with conducting business in foreign countries and other risks detailed from time to time in the Company's Securities and Exchange Commission filings including without limitation, in Items 1 and 7 of the Company's Annual Report on Form 10-K for the year-ended December 25, 1999, and Item 1 in the Company's Quarterly Report on Form 10-Q for the periods ended April 1, 2000, July 1, 2000 and September 30, 2000.