NOTICE OF GUARANTEED DELIVERY
IN RESPECT OF
8 3/4% SENIOR SUBORDINATED NOTES DUE 2008, SERIES A
OF
POLYMER GROUP, INC.
PURSUANT TO THE PROSPECTUS DATED JULY 1, 1998
The Exchange Agent for the Exchange Offer is:
HARRIS TRUST AND SAVINGS BANK
By Mail: By Hand or Overnight Courier:
c/o Harris Trust Company of New York c/o Harris Trust Company of New York
Wall Street Station 88 Pine Street, 19th Floor
P.O. Box 1023 New York, NY 10005
New York, NY 10268-1023
By Facsimile Transmission:
(for Eligible Institutions Only)
(212) 701-7636 or 7637
For Information Telephone (call collect):
(212) 701-7624
DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS, OR
TRANSMISSION VIA FACSIMILE TO A NUMBER, OTHER THAN AS SET FORTH ABOVE WILL NOT
CONSTITUTE VALID DELIVERY.
As set forth in the Prospectus dated July 1, 1998 (as it may be supplemented
and amended from time to time, the "Prospectus") of Polymer Group, Inc. (the
"Company") under "The Exchange Offer--Guaranteed Delivery Procedures," and in
the Instructions to the related Letter of Transmittal (the "Letter of
Transmittal"), this form, or one substantially equivalent hereto, or an
Agent's Message relating to the guaranteed delivery procedures, must be used
to accept the Company's offer (the "Exchange Offer") to exchange any and all
of its outstanding 8 3/4% Senior Subordinated Notes due 2008, Series A (the
"Notes"), for new 8 3/4% Senior Subordinated Notes due 2008, Series B (the
"Exchange Notes"), if time will not permit the Letter of Transmittal,
certificates representing such Notes and other required documents to reach the
Exchange Agent, or the procedures for book-entry transfer cannot be completed,
on or prior to the Expiration Date (as defined).
This form must be delivered by an Eligible Institution (as defined herein)
by mail or hand delivery or transmitted via facsimile to the Exchange Agent as
set forth above. If a signature on the Letter of Transmittal is required to be
guaranteed by a Medallion Signature Guarantor under the instructions thereto,
such signature guarantee must appear in the applicable space provided in the
Letter of Transmittal. This form is not to be used to guarantee signatures.
Questions and requests for assistance and requests for additional copies of
the Prospectus may be directed to the Exchange Agent at the address above.
Holders may also contact their broker, dealer, commercial bank, trust company,
or other nominee for assistance concerning the Exchange Offer.
THE EXCHANGE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK
CITY TIME, ON AUGUST 5, 1998, UNLESS EXTENDED ("THE EXPIRATION DATE").
Ladies and Gentlemen:
The undersigned hereby tender(s) to the Company, upon the terms and subject
to the conditions set forth in the Prospectus and the related Letter of
Transmittal (receipt of which is hereby acknowledged), the principal amount of
the Notes specified below pursuant to the guaranteed delivery procedures set
forth in the Prospectus under "The Exchange Offer--Guaranteed Delivery
Procedures" and in Instruction 2 to the Letter of Transmittal. The undersigned
hereby authorizes the Exchange Agent to deliver this Notice of Guaranteed
Delivery to the Company with respect to the Notes tendered pursuant to the
Exchange Offer.
The undersigned understands that Notes will be exchanged only after timely
receipt by the Exchange Agent of (i) such Notes, or a Book-Entry Confirmation,
and (ii) a Letter of Transmittal (or a manually signed facsimile thereof),
including by means of an Agent's Message, of the transfer of such Notes into
the Exchange Agent's account at the Book-Entry Transfer Facility, with respect
to such Notes, properly completed and duly executed, with any signature
guarantees and any other documents required by the Letter of Transmittal
within three New York Stock Exchange, Inc. trading days after the execution
hereof. The undersigned also understands that the method of delivery of this
Notice of Guaranteed Delivery and any other required documents to the Exchange
Agent is at the election and sole risk of the holder, and the delivery will be
deemed made only when actually received by the Exchange Agent.
The undersigned understands that tenders of Notes will be accepted only in
principal amounts equal to $1,000 or integral multiples thereof. The
undersigned also understands that tenders of Notes may be withdrawn at any
time prior to the Expiration Date.
All authority conferred or agreed to be conferred by this Notice of
Guaranteed Delivery shall not be affected by, and shall survive, the death or
incapacity of the undersigned, and every obligation of the undersigned under
this Notice of Guaranteed Delivery shall be binding upon the heirs, executors,
administrators, trustees in bankruptcy, personal and legal representatives,
successors and assigns of the undersigned.
All capitalized terms used herein but not defined herein shall have the
meanings ascribed to them in the Prospectus.
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PLEASE SIGN AND COMPLETE
Signature(s) of Registered Date: ______________________________
Holder(s) or Authorized Signatory: _
Address: ___________________________
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Area Code and Telephone No. ________
Name(s) of Registered Holder(s): ___
If Notes will be delivered by book-
entry transfer, check book-entry
transfer facility below:
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[_] The Depository Trust Company
Principal Amount of Notes
Tendered: __________________________
DepositoryAccount No. ______________
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Certificate No.(s) of Notes (if
available) _________________________
This Notice of Guaranteed Delivery must be signed by the holder(s) exactly
as their name(s) appear(s) on certificate(s) for Notes or on a security
position listing as the owner of Notes, or by person(s) authorized to become
Holder(s) by endorsements and documents transmitted with this Notice of
Guaranteed Delivery without alteration, enlargement or any change whatsoever.
If signature is by a trustee, executor, administrator, guardian, attorney-in-
fact, officer or other person acting in a fiduciary or representative
capacity, such person must provide the following information.
Please print name(s) and address(es)
Name(s): _____________________________________________________________________
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Capacity: ____________________________________________________________________
Address(es): _________________________________________________________________
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DO NOT SEND NOTES WITH THIS FORM. NOTES SHOULD BE SENT TO THE EXCHANGE AGENT
TOGETHER WITH A PROPERLY COMPLETED AND DULY EXECUTED LETTER OF TRANSMITTAL.
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GUARANTEE
(NOT TO BE USED FOR SIGNATURE GUARANTEE)
The undersigned, a member of the Securities Transfer Agents Medallion
Program, the Stock Exchange Medallion Program or the New York Stock Exchange,
Inc. Medallion Signature Program (each, an "Eligible Institution"), hereby
(i) represents that the above-named persons are deemed to own the Notes
tendered hereby within the meaning of Rule 14e-4 promulgated under the
Securities Exchange Act of 1934, as amended ("Rule 14e-4"), (ii) represents
that such tender of Notes complies with Rule 14e-4 and (iii) guarantees that
the Notes tendered hereby are in proper form for transfer (pursuant to the
procedures set forth in the Prospectus under "The Exchange Offer--Guaranteed
Delivery Procedures"), and that the Exchange Agent will receive (a) such
Notes, or a Book-Entry Confirmation of the transfer of such Notes into the
Exchange Agent's account at the Book-Entry Transfer Facility and (b) a
properly completed and duly executed Letter of Transmittal or facsimile
thereof (or Agent's message) with any required signature guarantees and any
other documents required by the Letter of Transmittal within three New York
Stock Exchange, Inc. trading days after the date of execution hereof.
The Eligible Institution that completes this form must communicate the
guarantee to the Exchange Agent and must deliver the Letter of Transmittal
and Notes to the Exchange Agent within the time period shown herein. Failure
to do so could result in a financial loss to such Eligible Institution.
Name of Firm: ________________________________________________________________
Authorized Signature: ________________________________________________________
Title: _______________________________________________________________________
Address: _____________________________________________________________________
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(Zip Code)
Area Code and Telephone Number: ______________________________________________
Dated: __________________ , 1998
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