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CARRIAGE'S BOARD FORMS SPECIAL COMMITTEE TO REVIEW OPTIONS

 CARRIAGE'S BOARD FORMS SPECIAL COMMITTEE TO REVIEW OPTIONS
 CALHOUN, Ga., Sept. 7 /PRNewswire/ -- Carriage Industries, Inc. (NYSE: CGE), a leading carpet manufacturer for specialized markets, acknowledged today the agreement between Clarence E. Harris, its chairman and principal shareholder, and Dixie Yarns, Inc., (NASDAQ-NMS: DXYN) which was announced by Dixie after the financial markets closed on Friday, Sept. 4.
 The agreement, which was negotiated without the involvement of Carriage, provides for Harris and certain of his affiliates to sell all their shares of Carriage, approximately 46.5 percent of the total common shares outstanding, to Dixie for $13.25 per share in cash. Dixie also agreed with Harris, subject to certain conditions, to negotiate a merger agreement with Carriage pursuant to which Carriage shareholders would exchange their Carriage shares, valued at $13.25 per share, for Dixie shares valued for exchange purposes at $11 per share.
 A special committee of outside directors has been appointed by the board of Carriage to consider the most appropriate course of action for the company and it's shareholders, in light of this agreement. The committee has retained special counsel and a financial advisor. The special committee has indicated its willingness to discuss a potential business combination with Dixie, or with any other serious offeror, but has not yet been contacted by Dixie.
 Carriage, with fiscal 1992 sales of $119 million from continuing operations, is a vertically integrated manufacturer of carpet for specialized markets. The company is a leading supplier to the manufactured housing, recreational vehicle, small boat, and exposition/trade show industries. Carriage also produces carpet for the contract/residential, hospitality/commercial and home center/needlebond markets.
 Corporate offices and most of Carriage's 800 carpet employees are in Calhoun, Ga. Sales offices and distribution centers are strategically located across the United States. The company's transportation subsidiary operates one of the largest trucking fleets in the carpet industry.
 -0- 9/7/92
 /CONTACT: Steven G. Jones, vice president, finance of Carriage Industries, 404-629-9234/
 (CGE DXYN) CO: Carriage Industries, Inc.; Dixie Yarns, Inc. ST: Georgia IN: SU:


PS -- NY003 -- 6765 09/07/92 13:49 EDT
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Date:Sep 7, 1992
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