Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Polymer Group, Inc. (?PGI? or the ?Company?) (OTCBB:POLGA) related to the Company's agreement to be acquired by an affiliate of Blackstone Capital Partners V L.P. The proposed transaction is valued at approximately $326 million.

Under the terms of the definitive agreement entered into by the parties, PGI shareholders will be entitled to receive up to $18.16 in cash for each share of the Company's common stock they own. A portion totaling $64.5 million of the aggregate purchase consideration, or approximately $2.91 per share, will be deposited in an escrow account at closing and will be available to cover potential tax liabilities. As a result of the reserve of the escrow funds, each holder of outstanding shares of PGI common stock will be entitled to receive approximately $15.25 at closing and its pro-rata share of any additional amounts if and when released from the escrow fund in accordance with the definitive agreement. The transaction is expected to close prior to the end of first quarter 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by PGI's board of directors.

If you are a shareholder of PGI, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com