SOUTHFIELD, MI -- Rumors concerning the impending resignation of Collins & Aikman President and CEO Frank Macher were confirmed today by the company.

The Collins & Aikman board of directors has accepted Macher's resignation as president and CEO. In a press release issued this morning, the company said that after thorough deliberations, the board and Macher concluded that a new structure for the leadership of the company would be appropriate as it executes the balance of its ongoing sale process.

On Nov. 14, 2006, the company announced that it expects to sell its operations, in whole or in parts, to maximize the value of the enterprise for its creditors and preserve the largest number of jobs for its employees. On Dec. 22, 2006, the company filed an amended joint plan under which it will proceed with soliciting qualified bids for the sale of the majority of its assets.

"The board appreciates the effort Frank put forth overseeing the company's operations," said Steve Cooper, chairman of the Board. "We accepted his decision knowing that the timing of his resignation was appropriate given the shift in focus of the restructuring efforts and that the existing senior management team is fully capable of executing the remaining aspects of the plan."

The position of president and CEO will be replaced by the Office of the Chairman that will consist of the chairman, Steve Cooper, and the following six members of the senior management team:

- John Boken, chief restructuring officer;

- Stacy Fox, executive vice president, chief administrative officer and general counsel;

- Millard King, president, Soft Trim Operations;

- Tim Trenary, executive vice president, chief financial officer and

treasurer;

- Mary Ann Wright, executive vice president, Engineering, Design and

Product Development, Commercial and Program Management; and

- James Wynalek, president, Plastics Operations.

In addition to their previous responsibilities overseeing the company's day to day operations, these individuals will work closely with the company's creditors and customers to ensure an orderly execution of the sale process.

The company previously announced it has selected a lead bidder in its proposed sale of the company's automotive flooring and acoustic components business. Details of the bid, including the identification of the lead bidder, will be made available when the company files its sale motion with the bankruptcy court.

Collins & Aikman recently received final approval from the Bankruptcy Court in Detroit, MI, for an agreement between the company, its senior secured lenders and principal customers that will provide the financial support necessary to maintain normal operations while it attempts to sell its injection molded plastic and convertible roof system businesses and assets. The company is in the process of soliciting and reviewing qualified bids for the purchase of all or portions of these businesses from a number of interested parties.

On Jan. 25, the company received approval from the Bankruptcy Court for its Disclosure Statement, which will be distributed to creditors for voting on the Plan on or before Feb. 20.

For more information about Collins & Aikman, go to: http://www.collinsaikman.com.