Hanesbrands Inc (HBI)

[BSWB]

Hanesbrands Inc. Celebrates Start of Stock Trading on the New York Stock Exchange under the Symbol HBI

Wednesday September 6, 10:15 am ET
Hanesbrands Reborn as Brand New 105-Year-Old Company, Showcasing Company's Platform: ''We Are What You Wear''


WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Sept. 6, 2006--Hanesbrands Inc. (NYSE: HBI - News) rang in its independence today with the commencement of stock trading on the New York Stock Exchange and with celebrations at employee locations in 24 countries around the globe.


Hanesbrands CEO Richard A. Noll and Executive Chairman Lee A. Chaden rang the NYSE's ceremonial opening bell in New York as thousands of employees watched live via satellite on a huge video screen outside of Hanesbrands headquarters in Winston-Salem, N.C.

"Today we launch a brand new 105-year-old company," Chaden said. "Our innerwear, outerwear and hosiery apparel brand products are found in eight out of 10 American households. Wherever and whenever consumers want to shop, our products are there - through mass merchants, department stores and company retail stores, plus the Internet and catalogs. Our platform is: 'We Are What You Wear.' "

The "We Are What You Wear" theme, which appeared today in select newspaper advertisements and promotional materials, signifies the role that Hanesbrands' innovative everyday products and world-class brands play in the lives of consumers. In addition to ringing the bell at the exchange, Hanesbrands ambassadors roamed New York's financial center, showcasing the company's products via interactive T-shirts and giveaways.

Hanesbrands has more than a century of history and a portfolio of leading apparel brands, including Hanes, Champion, Playtex, Bali, Just My Size, barely there, and Wonderbra. It sells high-volume, frequently purchased apparel essentials such as T-shirts, bras, panties, men's underwear, children's underwear, socks, hosiery, casualwear and activewear.

"Hanesbrands is well-positioned to thrive as an independent company and has tremendous growth and financial potential," Noll said. "We have great opportunities to use our strong cash flow to increase profitability and pay down debt. Our success model is straight forward. We will use our cash flow and cost-control initiatives to further invest in the continued growth our strong brands in core product categories driven by innovative products."

Examples of recent innovation in key product categories include the introduction of Hanes tagless T-shirts and the extension of the tagless comfort characteristic into other product segments. Hanes Comfort Soft men's underwear and women's panties and bras wrap elastic in cotton for a better and more comfortable fit. The company's Playtex brand has introduced bras in half sizes for versatility and comfort, and the introduction of Bali Platinum products is expanding the brand across selling channels.

"We have a strong and consistent cash flow, generating more than $2 billion over the past four years," Noll said. "Our innerwear business, including underwear, bras and panties, is a strong replenishment packaged-goods business. Men buy underwear on average more than three times a year and women buy panties more than 4 times a year."

In fiscal 2005, Hanesbrands generated $4.7 billion in net sales and $406 million in operating profit.

Hanesbrands Inc.

Hanesbrands Inc. is a leading marketer of innerwear, outerwear and hosiery apparel under strong consumer brands, including Hanes, Champion, Playtex, Bali, Just My Size, barely there and Wonderbra. The company designs, manufactures, sources and sells T-shirts, bras, panties, men's underwear, children's underwear, socks, hosiery, casual wear and active wear. Hanesbrands has approximately 50,000 employees in 24 countries. More information about Hanesbrands Inc. may be found on the internet at http://www.hanesbrands.com.

Cautionary Statement Concerning Forward-Looking Statements

All statements contained in this press release, other than statements of historical fact, are forward-looking statements, including those regarding our launch as an independent company and the benefits expected from that launch. These statements speak only as of the date of this press release and are based on our current plans and expectations, and they involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to our ability to migrate our production and manufacturing operations to lower-cost centers around the world; the highly competitive and evolving nature of the industry in which we compete; our ability to effectively manage our inventory and reduce inventory reserves; any loss of or reduction in sales to any of our top customers; risks associated with our foreign operations or foreign supply sources; the impact of economic and business conditions and industry trends in the countries in which we operate our supply chain; any failure by us to protect against dramatic changes in the volatile market price of cotton; our substantial debt and debt-service requirements that restrict our operating and financial flexibility and impose significant interest and financing costs; future financial performance, including availability, terms and deployment of capital; and the outcome of any pending or threatened litigation. Further information about these matters can be found in our Securities and Exchange Commission filings. We expressly disclaim any intent or obligation to update these forward-looking statements, other than as required by law.



Contact:
Hanesbrands Inc.
Media
Matt Hall, 336-519 3386
or
Analysts and Investors
Brian Lantz, 336-519-7130

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Source: Hanesbrands Inc.

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