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PILlLOWTEX CORPORATION FILES REGISTRATION STATEMENT

 DALLAS, Feb. 23 /PRNewswire/ -- Pillowtex Corporation (NYSE: PTX) announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering by the company of 3,500,000 shares of common stock, $0.01 par value, and for the sale by a selling shareholder of 400,000 shares of common stock. The initial public offering price is currently estimated to be between $13 and $15 per share. The common stock has been approved for listing on the New York Stock Exchange under the symbol "PTX," subject to notice of issuance. The comanaging underwriters for the offering are Donaldson, Lufkin & Jenrette Securities Corporation and Merrill Lynch & Co.
 Pillowtex designs, manufactures, and markets bed pillows, mattress pads, down comforters, and other bedroom textile furnishings. The company plans to use the net proceeds of its offering to repay indebtedness. Pillowtex will not receive any of the proceeds from the sale of shares of common stock by the selling shareholder.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
 This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Preliminary prospectuses may be obtained from Donaldson, Lufkin & Jenrette Securities Corporation at 140 Broadway, New York, N.Y., 10005, Attn: Prospectus Department, 212-504-4525.
 -0- 2/23/93
 /CONTACT: Jeffrey D. Cordes, vice president-administration and planning of Pillowtex Corporation, 214-333-3225/
 (PTX)


CO: Pillowtex Corporation ST: Texas IN: TEX SU:

TS -- NY060 -- 9439 02/23/93 13:02 EST
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Publication:PR Newswire
Date:Feb 23, 1993
Words:318
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