Culp, Inc. Announces Election of New Independent Board Members at Annual Meeting of Shareholders.

HIGH POINT, N.C. -- Culp, Inc. (NYSE:CFI) held its annual meeting of shareholders today in High Point, North Carolina. In the formal business conducted at the meeting, shareholders elected three directors to new three-year terms expiring with the 2007 annual meeting and two directors to fill vacancies with terms expiring in 2005. Howard L. Dunn, Jr., H. Bruce English and Kenneth W. McAllister were each re-elected to a three-year term. The Company also added two new directors, Jean L.P. Brunel and Kenneth R. Larson, who will fill the vacancies expiring in 2005.

Mr. Brunel is the managing principal of Brunel Associates, a firm offering wealth management consulting services. Prior to starting his own firm he was chief investment officer-private asset management for U.S. Bancorp. Mr. Brunel spent the majority of his career in the investment management group of J.P. Morgan, where he worked in the U.S. and abroad from 1976 until his retirement in 1999. During his tenure with J.P. Morgan, he served in New York, Tokyo, Hong Kong, Singapore and Melbourne, in various investment and managerial capacities. Mr. Brunel is a graduate of Ecole des Hautes Etudes Commerciales in France and has an MBA from the Kellogg Graduate School of Management at Northwestern University. He is a Chartered Financial Analyst.

Mr. Larson is owner, president and chief executive officer of Slumberland Furniture, a leading home furnishings retailer with 89 stores in a nine-state area in the Midwestern U.S. Mr. Larson and Slumberland have received numerous awards including 1995 Retailer of the Year by the National Home Furnishings Association, 1998 Entrepreneur of the Year by Ernst & Young in the retail category for Minnesota and North Dakota and the 2000 Integrity Award for Marketplace Ethics from the Better Business Bureau of Minnesota and North Dakota. Mr. Larson has served on the board of the National Home Furnishings Association and has been active in a number of non-profit organizations.

"We are very pleased to have Jean Brunel and Ken Larson join our board," commented Robert G. Culp, III, chairman and chief executive officer of Culp, Inc. "We believe that one requirement to be a great company is to have an experienced and dedicated board of directors. As independent directors, each of these individuals brings unique strengths to Culp's board. Both the extensive international experience of Jean Brunel and the retail home furnishings expertise of Ken Larson will be invaluable to the company and will strengthen an already outstanding group of directors. We look forward to working together to execute Culp's strategy to build shareholder value in today's global marketplace."

Other directors of Culp, whose terms continue to future years, include: Robert G. Culp, III, Patrick B. Flavin, Patrick H. Norton and Franklin N. Saxon. In other action at today's meeting, shareholders ratified the selection of KPMG LLP as independent auditors for the current fiscal year ending May 1, 2005.

Culp, Inc. is one of the world's largest marketers of mattress fabrics for bedding and upholstery fabrics for furniture. The company's fabrics are used principally in the production of bedding products and residential and commercial upholstered furniture.