JPS Industries Announces Corporate Actions

GREENVILLE, S.C., Nov. 29  /PRNewswire-FirstCall/ -- JPS Industries, Inc. (Pink Sheets: JPST) today announced changes in the Company's Defined Benefit Plan and 401(k) Savings Plan, as well as activity with the Share Rights Plan and Share Repurchase Program.

Michael L. Fulbright, Chairman, President and Chief Executive Officer of JPS Industries, Inc. stated, "Today's economic and regulatory environment dictated that we freeze our defined benefit pension plan and we have done so effective December 31, 2005.  The highly competitive global manufacturing arena and pending legislation in Congress that will result in more onerous premium costs on companies that offer defined benefit plans made this a necessary course of action for our Company.  In conjunction with this change, we are enhancing our 401(k) plan to provide our employees with an improved retirement savings plan that is in their complete control in terms of investment strategy."

Commenting further, Mr. Fulbright stated, "We have modified our Share Rights Plan to allow our previously existing greater than 5% shareholders some additional flexibility in their ability to purchase shares.  The purpose of the Plan was, and is, to give the Company a tool to protect the value of our NOL's, and this change in no way hinders our ability to do so."

In conclusion, Mr. Fulbright added, "We anticipate reporting our full year results in late December and are encouraged about our prospects at JPS Industries for the coming year.  Recently we have been active in purchasing shares in the open market under the guidelines of the Company's Share Repurchase Program.  Any future purchases will continue to be governed by our existing program and be initiated as deemed appropriate."

JPS Industries, Inc. is a major U.S. manufacturer of extruded urethanes, polypropylenes and mechanically formed glass substrates for specialty industrial applications.  JPS specialty industrial products are used in a wide range of applications, including: printed electronic circuit boards; advanced composite materials; aerospace components; filtration and insulation products; surf boards; construction substrates; high performance glass laminates for security and transportation applications; plasma display screens; athletic shoes; commercial and institutional roofing; reservoir covers; and medical, automotive and industrial components.  Headquartered in Greenville, South Carolina, the Company operates manufacturing locations in Slater, South Carolina; Westfield, North Carolina; and Easthampton, Massachusetts.

This press release contains statements that are forward-looking statements regarding future events.  These statements are only predictions and there are a number of important factors that could cause future events to differ materially from those expressed in any such forward-looking statements.  These factors include, without limitation, the general economic and business conditions affecting the Company's industries, actions of competitors, changes in demand in certain markets, the Company's ability to meet its debt service and pension plan obligations (including its ability to meet the financial obligations in its Credit Agreement), the Company's ability to realize its deferred tax asset, the seasonality of the Company's sales, the volatility of the Company's raw material, claims and energy costs, the Company's dependence on key personnel and certain large customers and other risk factors. The Company assumes no responsibility to update the forward-looking statements contained in this release as a result of new information, future events or otherwise.  JPS Industries, Inc. is not responsible for changes made to this document by wire services or Internet Services.

   CONTACT: Charles R. Tutterow
            Executive Vice President
            and Chief Financial Officer
            864/239-3915


DATASOURCE: JPS Industries, Inc.



CONTACT:  Charles R. Tutterow, Executive Vice President and Chief

Financial Officer of JPS Industries, Inc., [phone]

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