Mohawk Industries CEO Establishes 10b5-1 Trading Plan for Aladdin Partners, LP

CALHOUN, Ga., March 10  /PRNewswire-FirstCall/ -- Mohawk Industries (NYSE:MHK) has been advised that Aladdin Partners LP has entered into a Rule 10b5-1 trading plan to sell shares of the Common Stock of the Company. Aladdin Partners LP is an entity controlled by Jeffrey S. Lorberbaum, the Chairman of Mohawk Industries.

Rule 10b5-1 permits individuals who are not then in possession of material non-public information to establish prearranged plans to buy or sell stock. The rule allows individuals to buy or sell shares of stock at specified prices or times in the future, even if they may possess material non-public information at the time the transaction is executed.

The Aladdin Partnership was established in 1996 to manage investments for the Lorberbaum family.  The trading plan provides for the sale of up to 1,700,000 common shares over the next eighteen months and represents less than fifteen percent of the Lorberbaum Family Holdings of Mohawk.  After the sale the Lorberbaum's will still maintain ownership of approximately seventeen percent of the company.  Aladdin Partners LP has advised the Company that it is entering into this trading plan as a component of its overall diversification strategy and tax planning.

Due to his control of Aladdin Partners LP, the sale of shares by the Partnership will be reported by Jeff Lorberbaum under Section 16 of the Exchange Act.

Mohawk is a leading supplier of flooring for both residential and commercial applications.  Mohawk offers a complete selection of carpet, ceramic tile, laminate, wood, stone, vinyl, rugs and other home products. These products are marketed under the premier brands in the industry, which include Mohawk, Karastan, Ralph Lauren, Lees, Bigelow, Dal-Tile, American Olean, Unilin and Quick Step.  Mohawk's unique merchandising and marketing assist our customers in creating the consumers' dream.  Mohawk provides a premium level of service with its own trucking fleet and over 250 local distribution locations. 

DATASOURCE: Mohawk Industries, Inc.



CONTACT:  Frank H. Boykin, Chief Financial Officer of Mohawk Industries,

Inc., [phone]



Web site:  http://www.mohawkind.com/ 

Copyright