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GOLDTEX ANNOUNCES CHANGES IN MANAGEMENT

 GOLDTEX ANNOUNCES CHANGES IN MANAGEMENT
 GOLDSBORO, N.C., Dec. 12 /PRNewswire/ -- Goldtex, Inc.


(NASDAQ: GLTX) announced today that its Board of Directors has elected two new officers and that the Board of Directors has been reconstituted. David C. Brown, Jr., a director and principal stockholder of the corporation, has been elected as Chairman of the Board. Brown is a financial consultant and the Chairman of the Board and Chief Executive Officer of Moultrie Capital International, an international communications services company. Wilbur O. Hopper, President, Chief Financial Officer and a director of Goldtex since its formation in 1983, was also designated the Chief Executive Officer of the corporation. L. Terrell Sovey, Jr. and John S. Rainey have resigned as directors of the corporation. Each has indicated that his resignation was necessary because of the press of personal and other business commitments. Sovey will remain as a consultant to the corporation and Rainey will remain as Secretary and General Counsel for the corporation. Pursuant to these resignations, the Board of Directors was reduced to six members and Hopper and Robert L. Zucker, Executive Vice President of the corporation, were redesignated as Class I directors with terms expiring at the annual meeting for fiscal 1993.
 Goldtex, Inc., headquartered in Goldsboro, N.C., is engaged in the printing, dyeing and finishing of fabrics for others on a commission basis.
 -0- 12/12/91 R
 /CONTACT: Wilbur O. Hopper, President and Chief Executive Officer, Goldtex, Inc., 919-736-7411/
 (GLTX) CO: Goldtex, Inc. ST: North Carolina IN: TEX SU: PER


CM -- CH002R -- 1854 12/12/91 10:25 EST
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Publication:PR Newswire
Date:Dec 12, 1991
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