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FIELDCREST CANNON, KITAN CONSOLIDATED ANNOUNCE AGREEMENT

 NEW YORK, Jan. 10 /PRNewswire/ -- Fieldcrest Cannon (NYSE: FLD) and Kitan Consolidated Ltd. of Tel-Aviv, Israel, announced their agreement whereby Fieldcrest Cannon will distribute in North and South America the new Colorcot, coloured cotton bedding collection, developed and manufactured by Kitan.
 The agreement names Fieldcrest Cannon as the exclusive distributor for all Colorcot bedding and provides a framework for future development of all-natural product lines.
 All Colorcot products are made of naturally grown desert sand, sage and white cottons. They are absolutely free of any chemicals or synthetic materials used in the processing of the yarns and fabrics or in the construction of the products. All packaging utilizes recycled paper.
 Fieldcrest has been very pleased with consumer response to its New World Cotton collection using Fox Fibre. "We are now very optimistic about the Colorcot Collection," stated Bob Dale, President, Bed Division. "We have been keeping a watchful eye on the marketplace and making every attempt to understand, anticipate and respond to consumer demand. There is no question that environmentally correct products have a firm and growing position in our overall presentation. In addition to the excellent appearance and feel, Kitan has found a way to weave plaids and stripes giving us the opportunity to present intricate contemporary designs of superior quality."
 The distribution agreement enables Fieldcrest Cannon to expand dramatically on its existing natural program currently offered under both the Fieldcrest and Cannon Royal Family names. The special weaving techniques that create clean geometric designs give the consumer who truly wants to show consideration for the environment one more option in price point, thread count and styling.
 "The decision to approach Fieldcrest Cannon was simple as Fieldcrest Cannon had already proved its commitment to all natural environmentally friendly products, while the agreement itself is a natural expansion to the existing relationship between the companies," said Ed Laks, Vice President, Kitan Consolidated Ltd.
 It is part of the new marketing thrust of the Fieldcrest Cannon Bed Division to maintain a global awareness of products, techniques and opportunities. In this way consumers will benefit as their choices and desire for price value relationships are readily available.
 The initial Colorcot Collection will include four styles, three in 200 thread counts and one style in brushed cotton. The brushed cotton will be introduced at the February Mini Market, while the 200 thread count styles will be introduced at the April Market. All styles will begin shipping May 1994. Suggested retail will be at $19.99 twin. Kitan is the exclusive distributor of Fieldcrest Cannon products in Israel.
 -0- 1/10/94
 /CONTACT: Alice Schnapier of Fieldcrest Cannon, 212-957-3303/
 (FLD)


CO: Fieldcrest Cannon; Kitan Consolidated Ltd. ST: New York IN: TEX SU:

TW -- NY047 -- 0544 01/10/94 11:41 EST
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Publication:PR Newswire
Date:Jan 10, 1994
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