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                                                                    EXHIBIT 99.1

PRESS RELEASE...      October 26, 1999

STEEL HEDDLE NAMES NEW PRESIDENT

Robert W. Dillon has been named President of Steel Heddle, the Greenville, South
Carolina, based textile machinery accessory manufacturer.

Mr. Dillon, a thirty-year Steel Heddle veteran, brings to his new position a
strong and unusual combination of experience and expertise in textile
technology, sales, marketing, and manufacturing. His career at Steel Heddle
began in 1969 following his graduation from the Philadelphia College of Textiles
& Science where he received his degree in Textile Marketing & Management.

Mr. Dillon's responsibilities have included District Sales Engineer, Marketing
Manager, Vice President of the Heddle Division, and Executive Vice President. In
these positions, many of Steel Heddle's major accomplishments have been achieved
by expanding its presence in the growing international markets of Japan and
Southeast Asia. Steel Heddle, in addition to its leadership position in domestic
markets, is now recognized as a global leader in supplying weaving accessories
to the world market.

Mr. Dillon becomes only the twelfth President of Steel Heddle in its 101 years
of operation. He succeeds B. G. (Bennie) Team, who steps down at the end of
October, after serving as president for eight years.

Steel Heddle also operates an expanding Rolled Wire Products Division in
Westminster, South Carolina. In addition to its textile wire capabilities, this
operation is producing products for the growing photovoltaic wire market, as
well as flat wire products for the automotive, electronics, computer and
aircraft markets. Other Steel Heddle plants are located in North Carolina and
Mexico.

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Mr. Dillon's community service includes ten years on the Board of Trustees for
the School District of Greenville County, where he held the position of Chairman
for three years. He is a graduate of Leadership Greenville and Leadership South
Carolina. He and his wife, Nicki, reside in Greenville. Their daughter, Braeton,
is an Economics graduate of Wake Forest and an Investment Analyst with
Wachovia's Retirement Plan Security Division.

Son, Tyler, a Clemson Construction Science graduate, is Project Manager with
Bovis Construction Group, Memphis, Tennessee.