EXHIBIT 99.1
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FAB INDUSTRIES TRUST
000 XXXXXXX XXXXXX x XXX XXXX, X.X. 10016 o (000) 000-0000 o FAX (000) 000-0000
FOR IMMEDIATE RELEASE: FAB INDUSTRIES TRUST
000 XXXXXXX XXXXXX
XXX XXXX, X.X. 10016
FAB INDUSTRIES TRUST
CLOSES A DEFINITIVE AGREEMENT FOR THE SALE, ON A GOING CONCERN BASIS, OF ALL OF
ITS ASSETS AND THE ASSUMPTION OF ALL OF ITS LIABILITIES TO SSJJJ MANUFACTURING,
LLC FOR $3.15 PER SHARE. NO FURTHER DISTRIBUTIONS WILL BE MADE BY FAB INDUSTRIES
TRUST.
NEW YORK, N.Y. - November 2, 2005 - Fab Industries Trust (the "Trust"), the
successor to Fab Industries, Inc. (the "Company"), a manufacturer of knitted
textile fabrics, laces, related finished home products and laminated fabrics,
today announced that it consummated the sale, on a going concern basis, of all
of its assets and the assumption of all of its liabilities to SSJJJ
Manufacturing, LLC at a cash pace of $3.15 per share, for an aggregate
consideration of $16,427,347. Business operations will continue under the trade
name Fab Industries Corp.
The Trust has distributed all of the consideration from the sale to the
stockholders of record of the Company at the close of business on May 27, 200$
in an amount equal to $3.15 per share. No further distributions will be made by
the Trust.
WEBSITE: XXXX://XXX.XXX-XXXXXXXXXX.XXX
CONTACT INFORMATION:
Xxxxx Xxxxxx
Vice President - Chief Financial Officer
Fab Industries Trust
(000)000-0000
xxxxx.xxxxxx@xxx-xxxxxxxxxx.xxx
