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FOR IMMEDIATE RELEASE
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                            TEFRON LTD. COMPLETES
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                        ACQUISITION OF ALBA WALDENSIAN
                        ------------------------------


BNEI-BRAK, Israel -- December 15, 1999 -- Tefron Ltd. (NYSE: TFR), a leading
producer of seamless intimate apparel, today announced the successful completion
of its acquisition of Alba-Waldensian, Inc., a manufacturer of seamless intimate
apparel and healthcare products. Tefron effected the acquisition on December 15,
1999 by merging its wholly-owned subsidiary AWS Acquisition Corp. with and into
Alba, with Alba continuing as a wholly-owned subsidiary of Tefron. The merger
followed the tender by AWS Acquisition Corp. for all outstanding shares of Alba
at $18.50 per share.

Pursuant to the tender offer, AWS Acquisition Corp. purchased shares
representing 96.6% of all Alba common stock outstanding. In the merger, each
outstanding Alba common share not previously purchased in the offer was
converted into the right to receive the same $18.50 per share cash price paid in
the Offer. Tefron announced the terms of the offer and the merger on November
12, 1999.

The total amount of funds required to consummate the cash offer and the merger
at $18.50 per share and to retire certain indebtedness of Alba (including fees
and expenses related thereto) is approximately $85 million. The consideration
will be satisfied out of Tefron's existing cash reserves and new credit
facilities.

Tefron manufactures boutique-quality everyday seamless intimate apparel sold
throughout the world by such name-brand marketers as Victoria's Secret, Gap,
Banana Republic, DIM, Cacharel, Schiesser, the Benetton Group, and B.H.S., as
well as two other well known American designer labels. The Company's product
line includes knitted briefs, tank tops, loungewear, nightwear, bras, T-shirts
and bodysuits, primarily for women.


                                     * * *
                                  TEFRON LTD.

               Head Office: 28 CHIDA St. Bnei-Brak 51371 ISRAEL
                     TEL. 972-3-5978701 FAX. 972-3-5798715
         PLANT: IND. Center Teradyon P.O. Box 1365 Misgav 20179 ISRAEL
                   TEL. 972-4-9900000 FAX. 972-4-9990051/3/5

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This press release contains certain forward-looking statements with respect to
the Company's business, financial condition and results of operations. These
forward looking statements are subject to risks and uncertainties that could
cause actual results to differ materially from those contemplated in such
forward-looking statements, including, but not limited to, fluctuations in
product demand, economic conditions as well as certain other risks detailed
from time to time in the Company's filings with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.


                                     # # #


Contact:
Mr. Sigi Rabinowicz, CEO
Tefron Limited
Telephone: 972-3-579-8701
Fax:       972-3-579-8715

Ms. Jennifer Leavitt
Taylor Rafferty Associates
Telephone: 212-889-4350
Fax:       212-683-2614
Email:     tra@taylor-rafferty.com






                                     * * *
                                  TEFRON LTD.

               Head Office: 28 CHIDA St. Bnei-Brak 51371 ISRAEL
                     TEL. 972-3-5978701 FAX. 972-3-5798715
         PLANT: IND. Center Teradyon P.O. Box 1365 Misgav 20179 ISRAEL
                   TEL. 972-4-9900000 FAX. 972-4-9990051/3/5


