Lorberbaum Group Preparing to Sell Mohawk Shares

Calhoun, GA, March 10, 2006--Mohawk Industries has been advised that Aladdin Partners LP has entered into a Rule 10b5-1 trading plan to sell shares of the common stock of the company. Aladdin Partners LP is an entity controlled by Jeffrey S. Lorberbaum, chairman of Mohawk Industries. Rule 10b5-1 permits individuals who are not then in possession of material non-public information to establish prearranged plans to buy or sell stock. The rule allows individuals to buy or sell shares of stock at specified prices or times in the future, even if they may possess material non-public information at the time the transaction is executed. The Aladdin Partnership was established in 1996 to manage investments for the Lorberbaum family. The trading plan provides for the sale of up to 1,700,000 common shares over the next eighteen months and represents less than fifteen percent of the Lorberbaum Family Holdings of Mohawk. After the sale, the Lorberbaum's will still maintain ownership of approximately seventeen percent of the company. Aladdin Partners LP has advised the company that it is entering into this trading plan as a component of its overall diversification strategy and tax planning. Due to his control of Aladdin Partners LP, the sale of shares by the partnership will be reported by Jeff Lorberbaum under Section 16 of the Exchange Act.


Related Topics:Mohawk Industries