<SUBMISSION>
<ACCESSION-NUMBER>0001047469-03-023903
<TYPE>DEF 14C
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20030711
<FILING-DATE>20030711
<EFFECTIVENESS-DATE>20030711
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>POLYMER GROUP INC
<CIK>0000927417
<ASSIGNED-SIC>2221
<IRS-NUMBER>571003983
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0103
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEF 14C
<ACT>34
<FILE-NUMBER>001-14330
<FILM-NUMBER>03784164
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>4838 JENKINS AVE
<CITY>NORTH CHARLESTON
<STATE>SC
<ZIP>29405
<PHONE>8037445174
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>4838 JENKINS AVENUE
<CITY>NORTH CHARLESTON
<STATE>SC
<ZIP>29405
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>DEF 14C
<SEQUENCE>1
<FILENAME>a2114487zdef14c.htm
<DESCRIPTION>DEF 14C
<TEXT>
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<P ALIGN="CENTER"><FONT SIZE=2><B>SCHEDULE&nbsp;14C<BR>
(Rule&nbsp;14c-101)  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> INFORMATION REQUIRED IN STATEMENT  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> SCHEDULE&nbsp;14C INFORMATION<BR>
Information Statement Pursuant to Section 14(c)&nbsp;of the Securities<BR>
Exchange Act of 1934  </B></FONT></P>

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<TD COLSPAN=3><FONT SIZE=2>Check the appropriate box:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD WIDTH="3%"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2>Preliminary Information Statement</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2>Confidential, for use of the Commission only (as permitted by Rule&nbsp;14c-5(d)(2))</FONT></TD>
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<FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
Definitive information statement</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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&nbsp;</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=5><B>POLYMER GROUP,&nbsp;INC.<BR>  </B></FONT><FONT SIZE=1>(Name of Registrant as Specified in its Charter) </FONT></P>

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No fee required.</FONT></TD>
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<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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Fee computed on table below per Exchange Act Rules&nbsp;14c-5(g)&nbsp;and 0-11.</FONT></TD>
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&nbsp;</FONT></TD>
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(1)</FONT></TD>
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<TD WIDTH="90%"><FONT SIZE=2><BR>
Title of each class of securities to which transaction applies:</FONT></TD>
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&nbsp;</FONT></TD>
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(2)</FONT></TD>
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Aggregate number of securities to which transaction applies:</FONT></TD>
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&nbsp;</FONT></TD>
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(3)</FONT></TD>
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<TD WIDTH="90%"><FONT SIZE=2><BR>
Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule&nbsp;0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):</FONT></TD>
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(4)</FONT></TD>
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Proposed maximum aggregate value of transaction:</FONT></TD>
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(5)</FONT></TD>
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Total fee paid:</FONT></TD>
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&nbsp;</FONT></TD>
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<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
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Fee paid previously with preliminary materials:</FONT></TD>
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<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
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<TD COLSPAN=3><FONT SIZE=2><BR>
Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2)&nbsp;and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or
Schedule and the date of its filing.</FONT></TD>
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<TD WIDTH="2%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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(1)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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Amount Previously Paid:</FONT></TD>
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&nbsp;</FONT></TD>
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(2)</FONT></TD>
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Form, Schedule or Registration Statement No.:</FONT></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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(3)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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Filing Party:</FONT></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><BR><HR NOSHADE></TD>
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(4)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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Date Filed:</FONT></TD>
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<!-- ZEQ.=1,SEQ=1,EFW="2114487",CP="POLYMER GROUP, INC.",DN="1",CHK=984805,FOLIO='blank',FILE='DISK009:[03CHI5.03CHI3515]BE3515A.;5',USER='SLYUBOM',CD='10-JUL-2003;10:27' -->
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<TD WIDTH="9%"><FONT SIZE=2>CUSIP:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>731745204<BR>
731745303<BR>
731745402</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2>Polymer Group,&nbsp;Inc.<BR>
4055 Faber Place Drive, Suite&nbsp;201<BR>
North Charleston, SC 29405<BR>
(843) 329-5151 </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of Section&nbsp;14(c) of the Securities and Exchange Act of 1934, as amended and Section&nbsp;228(e) of the General Corporation Law of the State of
Delaware (the "Delaware General Corporation Law") this information statement (the "Information Statement") and Notice of Action Taken Without a Meeting of Stockholders is being furnished by the Board
of Directors of Polymer Group,&nbsp;Inc. ("PGI") to PGI's stockholders of record on July&nbsp;9, 2003 (the "Record Date") to provide information with respect to an action taken by written consent
of the holder of a majority of the outstanding shares of PGI common stock. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
written consent approves an amendment (the "Certificate Amendment") to Article&nbsp;Four of PGI's Amended and Restated Certificate of Incorporation (the "Certificate of
Incorporation") increasing PGI's total authorized capital stock from 21,220,086 shares to 41,313,698&nbsp;shares of which 19,920,612 of such additional shares shall be Class&nbsp;A Common Stock,
par value $.01 per share and 173,000 of such additional shares shall be preferred stock, with a par value of $.01 per share (the "Preferred Stock"). The Preferred Stock may be issued from time to time
in one or more series with such designations, preferences, participation rights, optional or other special rights and qualifications (including, dividend or interest rates, conversion prices, voting
rights, redemption or repurchase restrictions, maturity dates and other similar matters), limitations or restrictions thereof, as shall be stated in the resolutions adopted by the Board of Directors
of PGI. The Certificate Amendment will be filed with the Secretary of State of the State of Delaware on or after the twentieth day after this Information Statement is first sent to the stockholders of
PGI. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of June&nbsp;30, 2003, there were 8,162,250&nbsp;shares of Class&nbsp;A common stock, 391,585&nbsp;shares of Class&nbsp;B common stock and 90,936 shares of Class&nbsp;C
common stock outstanding held by approximately 341&nbsp;holders of record. No shares of Class&nbsp;D or Class&nbsp;E were outstanding as of such date. The par value for each class of common
shares is $.01 per share. This Information Statement is being sent on July&nbsp;11, 2003 to such holders of record on the Record Date. Pursuant to PGI's Certificate of Incorporation, each share of
PGI common stock is entitled to one vote on all matters submitted to a vote of the stockholders. </FONT></P>

<P><FONT SIZE=2><B>WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY.  </B></FONT></P>

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<!-- ZEQ.=1,SEQ=2,EFW="2114487",CP="POLYMER GROUP, INC.",DN="1",CHK=603882,FOLIO='blank',FILE='DISK009:[03CHI5.03CHI3515]DE3515A.;13',USER='MBLOUNT',CD='11-JUL-2003;14:37' -->
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dg3515_security_ownership_of_certain___sec02525"> </A>
<A NAME="toc_dg3515_1"> </A>
<BR></FONT><FONT SIZE=2><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following information with respect to the outstanding shares of PGI's common stock ("Common Stock") beneficially owned by each director and nominee for
director, the chief executive officer and the four other most highly compensated executive officers, all beneficial owners of more than five percent of each class of Common Stock known to PGI and the
directors and executive officers as a group is furnished as of April&nbsp;1, 2003, except as otherwise indicated. </FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="18%" ALIGN="CENTER"><FONT SIZE=1><B>Title of Class</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="53%" ALIGN="CENTER"><FONT SIZE=1><B>Name of Beneficial Owner</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER"><FONT SIZE=1><B>Number&nbsp;of Shares(1)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER"><FONT SIZE=1><B>Percent&nbsp;of Class(2)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>Class&nbsp;A Common</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>MatlinPatterson Global Opportunities Partners L.P.(3)(9)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>10,727,193</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>80.3</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>James D. Bennett(4)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>600,874</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>6.01</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>James G. Boyd(6)(9)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Pedro A. Arias</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Ramon Betolaza</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Lap Wai Chan</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>William B. Hewitt</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Eugene Linden</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>James A. Ovenden</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Michael Watzky</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>James L. Schaeffer</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>S. Grant Reeves</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Fernando Espinosa</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>All directors and executive officers as a group</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="18%"><FONT SIZE=2><BR>
Class&nbsp;B Common</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP"><FONT SIZE=2><BR>
Jerry Zucker(5)(9)</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2><BR>
100,391</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
25.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>James G. Boyd(6)(9)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>62,202</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>15.6</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>The InterTech Group,&nbsp;Inc.(7)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>51,101</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>12.8</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Golder, Thoma, Cressey Fund III Limited Partnership(8)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>70,331</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>17.6</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Pedro A. Arias</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Ramon Betolaza</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Lap Wai Chan</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>William B. Hewitt</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Eugene Linden</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>James A. Ovenden</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Michael Watzky</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>James L. Schaeffer</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>S. Grant Reeves</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>88</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Fernando Espinosa</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>All directors and executive officers as a group</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>62,290</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>15.6</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="18%"><FONT SIZE=2><BR>
Class&nbsp;C Common</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP"><FONT SIZE=2><BR>
PGI Special Purpose Holdings, LLC</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2><BR>
118,449</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
100</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>James G. Boyd</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Pedro A. Arias</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Ramon Betolaza</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Lap Wai Chan</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>William B. Hewitt</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Eugene Linden</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>James A. Ovenden</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Michael Watzky</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>James L. Schaeffer</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>S. Grant Reeves</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>Fernando Espinosa</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>All directors and executive officers as a group</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE>
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<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD><FONT SIZE=2>Each
holder has sole voting and investment power with respect to the shares listed unless otherwise indicated. There were no shares of Common Stock subject to options exercisable
within 60&nbsp;days of April&nbsp;1, 2003.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD><FONT SIZE=2>Percentages
less than one percent are denoted by an asterisk.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD><FONT SIZE=2>Includes
5,449,445&nbsp;shares of Class&nbsp;A Common held by MatlinPatterson Global Opportunities Partners&nbsp;L.P. ("MatlinPatterson") and $38,119,000 aggregate face amount
of our 10% Convertible Subordinated Notes due 2007 ("Convertible Notes"), which are immediately convertible into 5,227,749&nbsp;shares of Class&nbsp;A Common.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD><FONT SIZE=2>Includes
251,354&nbsp;shares of Class&nbsp;A Common held by Bennett Restructuring Fund,&nbsp;L.P. ("BRF"), 145,164&nbsp;shares of Class&nbsp;A Common held by Bennett
Restructuring Fund&nbsp;II,&nbsp;L.P. ("BRF&nbsp;II"), 128,540&nbsp;shares of Class&nbsp;A Common held by Bennett Offshore Restructuring Fund,&nbsp;Inc. ("BORF") and 75,816&nbsp;shares
of Class&nbsp;A Common held by Barclays Global Investors Distressed Specialist Fund&nbsp;I ("Barclays Distressed"). The general partner of each of BRF and BRF&nbsp;II is Restructuring Capital
Associates,&nbsp;L.P. ("RCA"). The general partners of RCA is Bennett Capital Corporation of which Mr.&nbsp;Bennett is the President and director. Mr.&nbsp;Bennett is also a director of BORF.
Barclays Distressed is a unit trust organized under the laws of Ireland. Barclays Global Investors Limited, a limited company organized under the laws of England and Wales, is the manager of Barclays
Distressed. RCA provides investment management services to Barclays Distressed pursuant to an agreement between RCA and Barclays Distressed.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(5)</FONT></DT><DD><FONT SIZE=2>Includes
45,795&nbsp;shares held by Mr.&nbsp;Zucker, 88&nbsp;shares held by Mr.&nbsp;Zucker's wife, 136&nbsp;shares held in trust for Mr.&nbsp;Zucker's children,
51,101&nbsp;shares held by The InterTech Group,&nbsp;Inc. ("InterTech") and 3,270&nbsp;shares held by FTG,&nbsp;Inc. ("FTG"). Mr.&nbsp;Zucker is Chairman, Chief Executive Officer and
President of InterTech and FTG, and as a result may be deemed to have voting and dispositive power over the shares held by InterTech and FTG.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(6)</FONT></DT><DD><FONT SIZE=2>Includes
7,831&nbsp;shares held by Mr.&nbsp;Boyd, 51,101&nbsp;shares held by InterTech, 3,270&nbsp;shares held by FTG. Mr.&nbsp;Boyd is Executive Vice President, Secretary
and Treasurer of InterTech and FTG. Shares of Class&nbsp;B Common are immediately convertible into shares of Class&nbsp;A Common on a share-per-share basis.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(7)</FONT></DT><DD><FONT SIZE=2>Includes
51,101&nbsp;shares held by InterTech and 3,270&nbsp;shares held by FTG. The address of InterTech is 4838 Jenkins Avenue, North Charleston, SC 29405.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(8)</FONT></DT><DD><FONT SIZE=2>All
of the reported shares are held by GTC Fund&nbsp;III, of which Golder, Thoma, Cressey&nbsp;&amp; Rauner,&nbsp;L.P. is the general partner. The address of GTC Fund&nbsp;III is
c/o Golder, Thoma, Cressey, Rauner,&nbsp;Inc., 6100 Sears Tower, Chicago, IL 60606-6402.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(9)</FONT></DT><DD><FONT SIZE=2>Each
of these parties has entered into a Shareholders Agreement, dated as of March&nbsp;5, 2003, (the "Shareholders Agreement") providing for certain voting agreements regarding
election of directors. Each such party disclaims beneficial ownership of shares of Common Stock owned by the other parties to the Shareholders Agreement. </FONT></DD></DL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with PGI's emergence from bankruptcy on March&nbsp;5, 2003 a change of control occurred resulting in MatlinPatterson being the beneficial owner of 80.3% of our voting
securities and giving MatlinPatterson the ability to elect directors and control all major corporate transactions. Pursuant to our Joint Second Amended Modified Plan of Reorganization, as confirmed by
the United States Bankruptcy Court for the District of South Carolina on January&nbsp;16, 2003, MatlinPatterson acquired ownership of 5,499,445&nbsp;shares of Class&nbsp;A Common in
consideration of the cancellation of certain debt instruments (and all pre-petition interest thereon) which were acquired by MatlinPatterson and certain of its affiliates through a series of trades at
an aggregate cost to MatlinPatterson and such affiliates of $150,732,172 as follows: 1,579,425&nbsp;shares issued in respect of $114,813,000 principal amount of our 8.75% Senior Subordinated Notes
due 2008 (and all pre-petition interest thereon) acquired by MatlinPatterson and certain of its affiliates at a total cost of $43,108,511; 3,907,871&nbsp;shares issued in </FONT></P>

<HR NOSHADE>
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<BR>

<P><FONT SIZE=2>respect
of $279,549,000 principal amount of our 9% Senior Subordinated Notes due 2008 and all pre-petition interest thereon acquired by MatlinPatterson and certain of its affiliates at a total cost of
$107,413,619; 1,480&nbsp;shares issued in respect of $113,000 principal amount of 9.25% Senior Notes due 2006 of Dominion Textile (USA) Inc. and all pre-petition interest thereon acquired by
MatlinPatterson and certain of its affiliates at a total cost of $25,425; and 10,669&nbsp;shares issued in respect of $821,000 principal amount 8.875% Senior Subordinated Notes due 2003 of Dominion
Textile and all pre-petition interest thereon acquired by MatlinPatterson and certain of its affiliates at a total cost of $184,725. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dg3515_amendment_to_certificate_of_in__ame02513"> </A>
<A NAME="toc_dg3515_2"> </A>
<BR></FONT><FONT SIZE=2><B>AMENDMENT TO CERTIFICATE OF INCORPORATION OF POLYMER GROUP,&nbsp;INC.    <BR>    </B></FONT></P>


<P><FONT SIZE=2><B>Background  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July&nbsp;9, 2003, the Board of Directors of PGI approved an amendment to PGI's Certificate of Incorporation, declared such amendment advisable and directed
that the proposed Certificate Amendment be submitted to PGI's majority stockholder, MatlinPatterson, who approved the Certificate Amendment on July&nbsp;11, 2003 by written consent. The Certificate
Amendment amends Article&nbsp;Four of PGI's Certificate of Incorporation by increasing PGI's total authorized capital stock from 21,220,086 to 41,313,698&nbsp;shares of which 19,920,612&nbsp;of
such additional shares shall be Class&nbsp;A Common Stock, par value $.01 per share and 173,000 of such additional shares shall be Preferred Stock, with a par value of $.01 per share. The additional
shares of Class&nbsp;A Common Stock will not have any pre-emptive rights. The Preferred Stock may be issued from time to time in one or more series with such designations, preferences, participation
rights, optional or other special rights and qualifications (including, dividend or interest rates, conversion prices, voting rights, redemption or repurchase restrictions, maturity dates and other
similar matters), limitations or restrictions thereof, as shall be stated in resolutions adopted by the Board of Directors of PGI. The Certificate Amendment will be filed with the Secretary of State
of the State of Delaware on or after the twentieth day after this Information Statement is first sent to the stockholders of PGI. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Further
authorization for the issuance of the Class&nbsp;A Common Stock or the Preferred Stock will not be solicited prior to such issuance. </FONT></P>

<P><FONT SIZE=2><B>Reasons for the Certificate Amendment  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PGI is contemplating an exchange offer allowing holders of its 10% convertible subordinated notes due 2007 (the "Junior Notes") to exchange such notes for
Series&nbsp;A Preferred Stock (the "Series&nbsp;A Preferred Stock"). The Certificate Amendment is made, among other reasons, in order to issue such Series&nbsp;A Preferred Stock. The
Series&nbsp;A Preferred Stock being offered to holders of the Junior Notes will pay a dividend of 16% per year per share based on a liquidation preference of $1,000 per share, payable-in-kind,
semi-annually in arrears. The holders of the Series&nbsp;A Preferred Stock will be entitled at any time before December&nbsp;31, 2011, subject to prior redemption or repurchase, to convert any
Series&nbsp;A Preferred Stock into Class&nbsp;A Common Stock at the then applicable conversion price. The initial conversion price shall be $7.29, subject to adjustment. The Series A Preferred
Stock will have pre-emptive rights. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
any time prior to December&nbsp;31, 2011, PGI may redeem the Series&nbsp;A Preferred Stock in cash in whole or from time to time in part on at least 30&nbsp;days prior written
notice if the trading price of the Class&nbsp;A Common exceeds 130% (unless holders of at least 66<SUP>2</SUP>/<SMALL>3</SMALL>% of shares of the then outstanding Series&nbsp;A Preferred Stock agree
otherwise) of the conversion price of the Series&nbsp;A Preferred Stock for 20 trading days in a period of 30 consecutive trading days. The redemption price will equal 100% of the original
liquidation preference to be redeemed together with declared but unpaid dividends thereon. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
December&nbsp;31, 2011, PGI must repurchase the Series&nbsp;A Preferred Stock then outstanding at a price equal to the original liquidation preference plus accrued and unpaid
dividends by, at the option of PGI (i)&nbsp;payment in cash; (ii)&nbsp;delivery of shares of Class&nbsp;A Common Stock; or (iii)&nbsp;a combination thereof. </FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Junior Notes and the Series&nbsp;A Preferred Stock have many similar provisions but differ in the following ways: (i)&nbsp;the Junior Notes are scheduled to mature in 2007 and
must be paid in cash whereas the Series&nbsp;A Preferred Stock must only be redeemed in 2011 in cash or in Class&nbsp;A Common Stock; (ii)&nbsp;the Junior Notes pay 10% interest per annum which
amount may be paid in additional Junior Notes at the option of the holder whereas the Series&nbsp;A Preferred Stock pays a dividend of 16% per year on the liquidation preference thereof (which shall
initially be equal to the aggregate outstanding amounts of the Notes tendered, plus accrued but unpaid interest on the Junior Notes) which may be payable in additional Series&nbsp;A Preferred Stock
at the option of PGI; and (iii)&nbsp;the Junior Notes rank pari passu with all indebtedness of PGI unless expressly subordinated to such indebtedness whereas the Series&nbsp;A Preferred Stock is
subordinate to all existing and future indebtedness of PGI. </FONT></P>

<P><FONT SIZE=2><B>Effect of the Amendment  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Certificate Amendment permits PGI to issue more shares of capital stock than previously authorized without obtaining shareholder consent which may be dilutive
to the current holders of PGI common stock. </FONT></P>


<P><FONT SIZE=2><B>No Dissenters' Rights  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Delaware General Corporation Law, PGI's stockholders are not entitled to dissenters' rights with respect to the matters set forth herein, and PGI will not
independently provide stockholders with any such right. </FONT></P>

<P><FONT SIZE=2><B>Interest of Certain Persons in the Certificate Amendment  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Three members of PGI's Board of Directors are employed by MatlinPatterson Global Advisors&nbsp;LLC, which owns approximately 76% of PGI's 10% convertible
subordinated notes due 2007 that are subject to the contemplated exchange offer. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dg3515_forward-looking_statements"> </A>
<A NAME="toc_dg3515_3"> </A>
<BR></FONT><FONT SIZE=2><B>FORWARD-LOOKING STATEMENTS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Information Statement contains "forward-looking statements," which represent PGI's expectations or beliefs, including, but not limited to, statements
concerning industry performance and PGI's results, operations, performance, financial condition, plans, growth and strategies, which include, without limitation, statements preceded or followed by or
that include the words "may," "will," "expect," "anticipate," "intend," "could," "estimate," or "continue" or the negative or other variations thereof or comparable terminology. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
statements, including, without limitation, the ultimate terms of the Series&nbsp;A Preferred Stock or any other Preferred Stock issued, contained in this Information Statement that
are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, some of which are beyond PGI's
control, and actual results may differ materially depending on a variety of important factors, many of which are also beyond PGI's control. You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this Information Statement. PGI does not undertake any obligation to update or release any revisions to these forward-looking statements to reflect
events or circumstances after the date of this information statement or to reflect the occurrence of unanticipated events, except to the extent such updates and/or revisions are required to prevent
these forward-looking statements from being materially false or misleading. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dg3515_where_you_can_find_more_information"> </A>
<A NAME="toc_dg3515_4"> </A>
<BR></FONT><FONT SIZE=2><B>WHERE YOU CAN FIND MORE INFORMATION    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PGI is subject to the informational requirements of the Securities Exchange Act of 1934, as amended, pursuant to which PGI files reports and other information
with the Securities and Exchange Commission (the "SEC"). These reports and other information may be inspected and copied at public reference facilities maintained by the SEC at Room&nbsp;1024,
Judiciary Plaza, 450 Fifth Street, N.W., Washington, D.C. 20549. Copies may be obtained at prescribed rates from the Public Reference Section </FONT></P>

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<P><FONT SIZE=2>of
the SEC at its principal office in Washington, D.C. The SEC also maintains an internet web site that contains periodic and other reports, proxy and information statements and other information
regarding registrants, including PGI, that file electronically with the SEC. The address of the SEC's web site is http://www.sec.gov. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
information concerning PGI contained in this Information Statement has been furnished by PGI. No person is authorized to make any representation with respect to the matters described
in this
Information Statement other than those contained in this Information Statement and if given or made must not be relied upon as having been authorized by PGI or any other person. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PGI
has not authorized anyone to give any information or make any representation about the our company that is different from, or in addition to, that contained in this Information
Statement. Therefore, if anyone gives you such information, you should not rely on it. This Information Statement is dated July&nbsp;11, 2003. You should not assume that the information contained in
this document is accurate as of any other date unless the information specifically indicates that another date applies. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dg3515_documents_incorporated_by_reference"> </A>
<A NAME="toc_dg3515_5"> </A>
<BR></FONT><FONT SIZE=2><B>DOCUMENTS INCORPORATED BY REFERENCE    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents, which have been filed by PGI with the SEC, are incorporated into this Information Statement and specifically made part of this
Information Statement: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Annual
report on Form&nbsp;10-K for the year ended December&nbsp;28, 2002;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Amended
Annual Report on Form&nbsp;10-K/A for the year ended December&nbsp;28, 2002; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Quarterly
report on Form&nbsp;10-Q for the quarter ended March&nbsp;29, 2003. </FONT></DD></DL>
</UL>
<BR>

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<TH WIDTH="9%" ALIGN="CENTER"><FONT SIZE=1><B>Exhibits</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="88%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
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<TD WIDTH="9%"><FONT SIZE=2>99.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>Accountant's Report</FONT></TD>
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<P><br><A NAME="03CHI3515_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_dg3515_1">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_dg3515_2">AMENDMENT TO CERTIFICATE OF INCORPORATION OF POLYMER GROUP, INC.</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_dg3515_3">FORWARD-LOOKING STATEMENTS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_dg3515_4">WHERE YOU CAN FIND MORE INFORMATION</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_dg3515_5">DOCUMENTS INCORPORATED BY REFERENCE</A></FONT><BR>
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<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit&nbsp;99.1  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>REPORT OF ERNST&nbsp;&amp; YOUNG LLP, INDEPENDENT AUDITORS  </B></FONT></P>

<P><FONT SIZE=2>The
Board of Directors and Shareholders<BR>
Polymer Group,&nbsp;Inc. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have audited the accompanying consolidated balance sheets of Polymer Group,&nbsp;Inc. as of December&nbsp;28, 2002 and December&nbsp;29, 2001 and the related consolidated
statements of operations, shareholders' equity, and cash flows for each of the three years in the period ended December&nbsp;28, 2002. Our audits also included the financial statement schedule
listed in the Index at Item 15(a). These financial statements and schedule are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements
and schedule based on our audits. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Polymer Group,&nbsp;Inc. at
December&nbsp;28, 2002 and December&nbsp;29, 2001 and the consolidated results of its operations and its cash flows for each of the three years in the period ended December&nbsp;28, 2002 in
conformity with accounting principles generally accepted in the United States. Also, in our opinion, the related financial statement schedule, when considered in relation to the basic financial
statements taken as a whole, presents fairly in all material respects the information set forth therein. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
discussed in Note&nbsp;2 to the Consolidated Financial Statements, in 2002 the Company changed its method of accounting for goodwill and other intangible assets. </FONT></P>

<P><FONT SIZE=2>/s/
Ernst&nbsp;&amp; Young LLP<BR></FONT></P>


<P><FONT SIZE=2>Greenville,
South Carolina<BR>
March&nbsp;21, 2003, except<BR>
for Note&nbsp;30, as to<BR>
which the date is<BR>
April&nbsp;11, 2003 </FONT></P>

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