SPAN-AMERICA SHAREHOLDER ACQUIRES
6% OF OUTSTANDING STOCK

Filing Indicates Plans to Seek Control of the Company

 

GREENVILLE, S.C. (December 15, 2000) Span-America Medical Systems, Inc. (Nasdaq/NM:SPAN) today announced that Synalloy Corporation (Nasdaq/NM:SYNC) and certain of its affiliates reported in a filing with the Securities and Exchange Commission that they have acquired 153,033 shares of Span-America's common stock, representing 6.1% of the Company's outstanding shares.  The filing further indicates that Synalloy plans to acquire control of the Company.

 A representative of Synalloy has contacted Span-America regarding the filing, however no offer has been made," stated Jim Ferguson, president and chief executive officer of Span-America Medical Systems, Inc.

About Span-America Medical Systems, Inc.

Span-America manufactures and markets a comprehensive selection of pressure management products for the medical market, including Geo-Matt®, PressureGuard®, Geo-Mattress®, Span+Aids®, and Isch-Dish® products.  The Company also supplies custom foam and packaging products to the consumer and industrial markets.  Span-America's stock is traded on The Nasdaq Stock Market's National Market under the symbol SPAN.

 

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