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INTERFACE ANNOUNCES AGREEMENT TO PURCHASE BENTLEY MILLS STOCK

 LAGRANGE, Ga., June 11 /PRNewswire/ -- Interface, Inc. (NASDAQ: IFSIA) announced today that it has entered into a definitive agreement to acquire a substantial majority of all classes of the capital stock of Bentley Mills, Inc. The agreement is with Bentley shareholders, including Chief Executive Officer Royce Renfroe, who collectively own approximately 85 percent of Bentley's senior preferred stock and Class B common stock and 83 percent of Bentley's junior preferred stock and 91 percent of the class A common stock. It is anticipated that the closing of the transaction, which is subject to certain conditions, will take place by June 30.
 Interface also announced the acquisition in a separate transaction of the remaining outstanding Bentley senior preferred stock and Class B common stock.
 Offers to purchase have been extended by Interface to the other holders of Bentley's Class A common stock and junior preferred stock.
 The aggregate consideration for the transactions, including payment of Bentley's senior debt, is expected to be approximately $81 million, of which $25 million will be in the form of a new class of Interface convertible preferred stock.
 Bentley Mills, Inc. is a leading manufacturer and marketer of high quality, designer-oriented broadloom carpeting used primarily for commercial and institutional applications, with sales in excess of $100 million per year. It maintains a significant share of this market niche by combining innovative design and short delivery time with a marketing strategy geared toward serving and working closely with interior designers. Bentley's principal products are broadloom carpet and carpet tiles for sale in the commercial and institutional markets.
 Interface, Inc. is committed to delivering superior value to its customers, as the world's largest manufacturer of modular carpet under the Interface and Heuga brands, and interior fabrics under the Guilford of Maine brand, for use in offices, healthcare facilities, airports, educational and other institutions, and retail facilities. The company also manufactures carpet tiles for residential use. In addition, the company engages in the manufacture and sale of chemicals used in various rubber and plastic products, and offers Intersept(R), the company's proprietary antimicrobial chemical, under a licensing program to manufacturers of other products.
 -0- 6/11/93
 /CONTACT: Dan Hendrix, chief financial officer of Interface, Inc., 706-882-1891; or J. Desmond Towey of Towey & Associates, 212-888-7600, for Interface, Inc./
 (IFSIA)


CO: Interface, Inc. ST: Georgia IN: TEX SU:

WB-OS -- NY062 -- 1239 06/11/93 17:07 EST
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Publication:PR Newswire
Date:Jun 11, 1993
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