Wednesday, December 17, 2008

Interface Extends Consent Payment Deadline for Exchange Offer for Certain of its Outstanding Notes

/PRNewswire-FirstCall/ -- Interface, Inc. (NASDAQ: IFSIA) , the world's largest manufacturer of modular carpet, announced today that it has extended the consent payment deadline with respect to its previously announced exchange offer and consent solicitation with respect to its outstanding 10.375% Senior Notes due 2010 (the "Notes"). The consent payment deadline, which was 5:00 p.m., New York City time on December 15, 2008, will be extended to 5:00 p.m., New York City time on Friday, December 19, 2008, unless further extended.

All other material terms of the consent solicitation and the related exchange offer remain unchanged. Holders who have already properly tendered their Notes and delivered their consents do not need to re-tender or deliver new consents. Consents (whether previously or hereafter delivered) may only be revoked in the manner described in the Offering Memorandum dated November 25, 2008. Rights to withdraw tendered Notes and revoke the delivered consents terminated at 5:00 p.m., New York City time, on December 9, 2008.

The exchange offer and consent solicitation are made upon the terms and conditions set forth in the Offering Memorandum and the related Letter of Transmittal and Consent. The exchange offer and consent solicitation are subject to the satisfaction of certain conditions, including the general conditions as set forth in the Offering Memorandum. The exchange offer will expire at midnight, New York City time, on December 23, 2008, unless extended or earlier terminated by Interface.

This release is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, the Notes. The exchange offer for Notes is only being made pursuant to the Offering Memorandum (and its related documents) that Interface has distributed to certain qualified holders of Notes. The exchange offer and consent solicitation are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the exchange offer or consent solicitation are required to be made by a licensed broker or dealer, they shall be deemed to be made by the Dealer Managers on behalf of Interface.

The replacement notes issued in exchange for the Notes in the exchange offer will not be initially registered under the Securities Act of 1933, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements, and will therefore be subject to substantial restrictions on transfer.

Interface, Inc. is the world's largest manufacturer of modular carpet, which it markets under the InterfaceFLOR(R), FLOR(TM), Heuga(R) and Bentley Prince Street(R) brands, and, through its Bentley Prince Street brand, enjoys a leading position in the designer quality segment of the broadloom carpet market. The company is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the other matters set forth in this news release are forwardlooking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including risks and uncertainties associated with economic conditions in the commercial interiors industry as well as the risks and uncertainties discussed under the heading "Risk Factors" included in Item 1A of the Company's Quarterly Report on Form 10-Q for the quarter ended September 28, 2008 and Annual Report on Form 10-K for the fiscal year ended December 30, 2007, which discussion is incorporated herein by this reference, including, but not limited to, the discussion of specific risks and uncertainties under the headings "The recent worldwide financial and credit crisis could have a material adverse effect on our business, financial condition and results of operations," "We compete with a large number of manufacturers in the highly competitive commercial floorcovering products market, and some of these competitors have greater financial resources than we do," "Sales of our principal products have been and may continue to be affected by adverse economic cycles in the renovation and construction of commercial and institutional buildings," "Our success depends significantly upon the efforts, abilities and continued service of our senior management executives and our principal design consultant, and our loss of any of them could affect us adversely," "Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including by restrictive taxation or other government regulation and by foreign currency fluctuations," "Large increases in the cost of petroleum-based raw materials could adversely affect us if we are unable to pass these cost increases through to our customers," "Unanticipated termination or interruption of any of our arrangements with our primary third-party suppliers of synthetic fiber could have a material adverse effect on us," "We have a significant amount of indebtedness, which could have important negative consequences to us," "The market price of our common stock has been volatile and the value of your investment may decline," "Our earnings in a future period could be adversely affected by non-cash adjustments to goodwill, if a future test of goodwill assets indicates a material impairment of those assets," "Our Chairman, together with other insiders, currently has sufficient voting power to elect a majority of our Board of Directors," and "Our Rights Agreement could discourage tender offers or other transactions for our stock that could result in shareholders receiving a premium over the market price for our stock." Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.

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