Propex Names Turnaround Specialist New CEO

Chattanooga, TN, March 17, 2008 – Propex Inc. has appointed Woody McGee as the interim president and CEO.

McGee is an executive consultant with Cerberus Capital Management, L.P. and has extensive experience in executive management and the restructuring of companies in a wide variety of industries domestically and internationally.

McGee’s most recent assignment was helping Global Home Products, a $550 million consumer products manufacturer and importer, to emerge from Chapter 11.

“I am truly excited to be joining Propex at this challenging time,” McGee said.

 “My focus will be to work with the entire Propex team to best position the company to grow and prosper in the current marketplace while getting ready to capitalize on our future beyond Chapter 11.”

McGee replaces Joseph F. Dana, who is retiring after more than 20 years at Propex and Synthetic Industries families.