TAPISTRON INTERNATIONAL, INC.
(STOCK SYMBOL - OTCBB - TAPI/TAPIW)
FOR IMMEDIATE RELEASE
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Tapistron International, Inc. Announces a Stock Repurchase Program
RINGGOLD, GEORGIA, - June 6, 2000 -- Tapistron International, Inc.
(OTCBB - TAPI/TAPIW) today announced that its Board of Directors has authorized
the Company to purchase up to 5,000,000 shares of its outstanding common stock
in the open market at such times and at such prices as management may from time
to time determine is appropriate. The Company's current weighted average common
and dilutive potential common shares outstanding is approximately 35,000,000.
Rodney C. Hardeman, Jr., President and C.E.O., stated, "Based on our current
stock price, we believe this stock repurchase represents an excellent investment
and provides our stockholders with a significant value for the long term. We
believe the stock buy-back program is another opportunity to provide our
shareholders increasing value for their investments. We are able to fund the
purchase of these shares with the current availability under our existing
revolving credit agreement."
Statements included in this news release which are not historical in nature are
forward-looking statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Those statements are based on
assumptions regarding the Company's future financial performance, the financial
resources available to the Company and the success of the Company's stock
buy-back program.
Tapistron International, Inc. manufactures the unique and proprietary
CYP (Computerized Yarn Placement) Machine for producing specialized pattern
tufted carpets and rugs in highly versatile designs, colors, and textures.
Corporate and manufacturing offices are located in Ringgold, Georgia.
FOR MORE INFORMATION: Contact Solomon Douhne or Floyd Koegler at Tapistron
International (706) 965-9300 or fax (706) 965-9310.
