RSWM enters partnership with Cone Denim

RSWM Ltd on January 21, 2008 has announced that it has entered into a commercial and marketing partnership With the Cone Denim division of International Textile Group, Inc. (ITG)(OTCBB; ITXN), LNJ Bhilwara is a global group with business interests spanning a range of industries and annual sales of over $700 million. Its textile business includes a wide array of yarns and fabrics, exported to more than 60 countries.

International Textile Group Inc., majority owned by WL Ross & Co, is a global, diversified textile manufacturer with annual revenues in excess of $1.0 billion. ITG was formed by WL Ross in 2004 and operates in five primary business segments: Automotive Safety, Apparel Fabrics (Cone Denim and Burlington Worldwide), Government Uniform Fabrics, Interior Furnishings and Commission Finishing. The Company employs over 11,000 people worldwide with operations in the United States, Mexico, China, Germany, Romania, the Czech Republic, Poland, South Africa, Turkey. Nicaragua and Vietnam.

Established in 1891, ITG Cone Denim has been a leading supplier of denim to top denim apparel brands for over 100 years. Known for its innovation, authenticity, quality and service, Cone Denim maintains operations in the United States, Mexico, Turkey and China, and has expansion initiatives underway in Nicaragua to provide broader service and flexibility to customers worldwide.

Under the terms of the agreement, the two Companies will develop and market the LNJ-Cone Denim brand of denim fabric. Cone Denim will lead the product development and design of these fabrics and will market LNJ-Cone Denim products in key markets throughout the world. LNJ-Cone Denim fabrics will be manufactured exclusively by LNJ at their new, state-of-the-art denim facility in Banswara, India.

Riju Jhunjhunwala, Joint Managing Director, of the Company stated; "LNJ Bhilwara Group has a strong reputation globally for innovative and quality textiles. We are delighted with the opportunity to expand our capabilities in denim through partnership with Cone Denim, a world Leader in denim."