CONE MILLS CORPORATION
Ratio of Earnings to Fixed Charges Computation
<TABLE>
<CAPTION>
First Three Months
----------------------
2000 1999 1999 1998 1997 1996 1995
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Income (Loss) $ 3,916 $ (12,669) $ (18,493) $ (7,884) $ (8,329) $ 12,823 $ 35,424
Dividends Rec'd-CIPSA - - - 192 - - -
Dividends Rec'd-Misc 91 115 116 37 - - -
Misc. Income - Affiliates - 1,675 1,833 - - - -
--------------------------------------------------------------------------------
Operating Income (Loss) per Statements 4,007 (10,879) (16,544) (7,655) (8,329) 12,823 35,424
--------------------------------------------------------------------------------
Fixed Charges:
Interest expense 5,367 3,529 14,999 14,446 13,716 15,039 14,730
Interest Exp-Hedge Act.-Debentures 107 107 427 427 427 427 338
Interest Exp-Amortization of Discount 4 4 17 17 17 17 13
Interest portion of rental expense 636 481 2,292 1,997 1,952 2,493 2,478
--------------------------------------------------------------------------------
Total Fixed Charges 6,114 4,121 17,735 16,887 16,112 17,976 17,559
--------------------------------------------------------------------------------
Earnings Available for Fixed Charge Coverage $ 10,121 $ (6,758) $ 1,191 $ 9,232 $ 7,783 $ 30,799 $ 52,983
--------------------------------------------------------------------------------
Ratio of Earnings to Fixed Charges 1.66 (1.64) 0.07 0.55 0.48 1.71 3.02
--------------------------------------------------------------------------------
Fixed Charges (Pro Forma):
Total Fixed Charges $ 6,114 $ 17,735
Interest Exp-Debentures 2005 (2,031) (6,888)
Interest Exp-Hedge Act.-Debentures (107) (427)
Interest Exp-Amortization of Discount (4) (17)
Interest Exp-Debentures 11% 2,338 9,350
--------- ------------
$ 6,310 $ 19,753
--------- ------------
Earnings Available for Fixed Charge Coverage $ 10,317 $ 3,208
--------- ------------
Ratio of Earnings to Fixed Charges 1.64 0.16
--------- ------------
----------------------------------------------------------------------------------------------------------------------------------
Deficiency $ 10,879 $ 16,544 $ 7,655 $ 8,329
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
