FOR IMMEDIATE RELEASE                                               Exhibit 99.1
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Contacts:
Kevin Cardullo                             Joel Weiden
Assistant Vice President, Finance,         Gavin Anderson & Co.
Globe Manufacturing                        212-515-1970
508-674-3585

       GLOBE MANUFACTURING CORP. EXTENDS FORBEARANCE AGREEMENT WITH BANKS

FALL RIVER, MA - SEPTEMBER 21, 2000 - Globe Manufacturing, a worldwide maker of
Glospan/R/ spandex, today announced that it has reached an agreement with its
bank lenders to extend its previously announced forbearance agreement until
December 31, 2000.

Richard Heitmiller, vice chairman, CEO and president of Globe Manufacturing
said, "We are working hard and making progress at developing a restructuring
plan that will reduce our debt and help us continue to be a top competitor in
the fiber industry. The support of our bank lenders and bondholders during this
process has been gratifying and we hope to resolve our balance sheet issues
quickly and with minimal impact on our operations. During the restructuring
process, the company intends to meet all obligations of trade creditors and
employees."

Under the forbearance agreement, the bank lenders will not exercise remedies
available to them as a result of Globe's non-compliance with certain covenants
and payment requirements of the bank credit agreement. As previously announced,
the Company is actively involved in discussions with its bank lenders and
bondholders regarding strategic alternatives that would enable it to reduce its
long-term debt. The Company believes that under each of the scenarios it is
considering, its trade creditors will be unimpaired.

Established in 1945, Globe Manufacturing Corp. produces Glospan/R/ and
Cleerspan/R/ Spandex Performance Fibers and is a premier worldwide spandex fiber
supplier. Available in a range of deniers from 20 through 5040 and various
packaging put-ups, Glospan/R/ is distributed to over 40 countries through five
major distribution channels. Globe is registered under the internationally
recognized ISO 9000 standard as an ISO 9001 manufacturer.

This news release contains certain forward-looking statements concerning Globe's
positioning for the future. As required by the Private Securities Litigation
Reform Act of 1995, the company advises that forward-looking statements are
subject to risks and uncertainties that could cause actual results to differ
materially from those stated or inferred. These could include the failure of
Globe to improve financial results or to maintain liquidity; the ability of the
company to obtain liquidity; the ability of the company to close on a
recapitalization; the inability of the company to successfully amend debt
covenants for fiscal 2000; sudden marketing changes in product pricing or the
cost of raw materials; failure of the company to successfully implement its
value-added marketing strategy or other uncertainties listed from time to time
in the company's filings with the SEC.


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