(NYSE: CFI) today reported financial and operating results for the
third quarter and nine months ended January 30, 2005.0 million, or 12. capacity, higher raw material
prices and manufacturing variances related to restructuring activities
affected profit margins for the upholstery fabrics segment. Including the
restructuring and related charges , the company expects to report a net
loss for the fourth fiscal quarter of $0. Further,
forward -looking statements are intended to speak only as of the date
on which they are made.07 $ (0 .88) $ 0.

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42 per diluted
share, for the third quarter of fiscal 2005, compared with net income
of $752,000, or $0.0 million capital project
involves relocation of ticking looms from an upholstery fabric plant
to existing mattress ticking facilities in the U.
manufacturing plants, which include the popular micro-denier suedes as
well as fabrics produced at our China facility, were up 92 percent
over the same period last year and accounted for almost 20 percent of
Culp's overall upholstery fabric sales during the quarter. As we enter the final
quarter of fiscal 2005 and look forward to fiscal 2006, we are excited
about our growth prospects and leadership position with respect to our
mattress fabric and offshore upholstery fabric businesses.

For leather goods such as garments and fashion accessories, please submit at Business/Consumer_Goods_and_Services/Clothing

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Culp Announces Third Quarter Fiscal 2005 Results

----Culp, Inc.9 million, or $0."

Mattress Fabrics Segment

Mattress fabric (known as mattress ticking) sales were $25.S. Sales of upholstery fabrics produced outside of our U. In
addition, we will remain focused on reducing costs and increasing
asset utilization in our U. Factors that could influence the matters
discussed in such statements include the level of housing starts and
sales of existing homes, consumer confidence, trends in disposable
income , and general economic conditions.
Reconciliation of Net Income (Loss) as Reported
to Pro Forma Net Income
(Unaudited)

Three Months Ended Nine Months Ended
------------- ----------- --------------------------
January 30, February 1, January 30, February 1,
2005 2004 2005 2004
----------- ----------- ------------ ------------
Net income (loss),
as reported $(4,877,000) $ 752,000 $(10,122,000) $ 3,487,000
Restructuring and
related charges
and goodwill
impairment, net
of income taxes 3,387,000 -- 8,043,000 - -
Early extinguishment
of debt, net of
income taxes -- 1,120,000 -- 1,120,000
----------- ----------- ------------ ------------
Pro forma net
income (loss) $(1,490,000) $ 1,872,000 $ (2,079,000) $ 4,607,000
=========== =========== ============ ============

Reconciliation of Net Income (Loss) Per Share as Reported
to Pro Forma Net Income Per Share
(Unaudited)

Three Months Ended Nine Months Ended
------------------------ --------------------------
January 30, February 1, January 30, February 1,
2005 2004 2005 2004
----------- ----------- ------------ ------------
Diluted net income
(loss) per share $ (0.

Video Feature Of Western Apparel Fashion Show Available January 21 2005

The segments will be distributed via satellite
and will include a produced 60-second segment, a 90-second segment and a 3-
minute segment.

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29 per diluted share.18 per diluted share. However , we have continued to face challenges in achieving our
target operating margins. We believe the continued
softness in demand for domestically produced upholstery fabrics and
the related underutilization of U. The
company's fabrics are used principally in the production of bedding
products and residential and commercial upholstered furniture.S.4
million or $0.16 $ (0.18) $ 0.
Since 1921, the WESA Market has grown to one of the largest international
trade shows in the equestrian industry, utilizing more than 200,000 square
feet of exhibit space to showcase 2,500 product lines from more than 1,000
exhibitors to more than 5,000 professional retail buyers.com, or call 800-295 -1041.

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4
million, or $0. Excluding these charges, net loss
for the third fiscal quarter was $1. The results for the third fiscal quarter of fiscal 2004 include
a one-time after-tax charge of $1.
"We are pleased to report year-over-year improvement in our
mattress ticking sales and believe we have a strong competitive
position with key customers," noted Culp."

Upholstery Fabrics Segment

Sales for this segment were $43.6
million and our long-term debt-to-capital ratio is 35., the
outlook remains uncertain for any recovery in demand for domestically
produced upholstery fabrics.
This release contains statements that may be deemed
"forward-looking statements" within the meaning of the federal
securities laws, including the Private Securities Litigation Reform
Act of 1995 (Section 27A of the Securities Act of 1933 and Section 27A
of the Securities and Exchange Act of 1934).06 $ (0.16 $ (0.18) $ 0.

This category lists tanneries of hides and skins for industrial manufacturing purposes, and wholesale and trading companies in leathers.

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C.3 million compared with $233.88 per diluted share, compared with net
income of $3. The year-to-date period for fiscal 2005 included 39
weeks versus 40 weeks for the same period of fiscal 2004.6 million, or 6. The
continued underutilization of U.0 million at
the close of the third quarter of fiscal 2005, compared with $14. In addition,
strengthening of the U.
Condensed Financial Highlights
(Unaudited)

Three Months Ended Nine Months Ended
------------------------ --------------------------
January 30, February 1, January 30, February 1,
2005 2004 2005 2004
----------- ----------- ------------ ---------- --

Net sales $69,060,000 $76,561,000 $212,315,000 $232,968,000

Net income
(loss) $(4,877,000) $ 752,000 $(10,122,000) $ 3,487,000
Net income
(loss) per
share:
Basic $ (0.30
Diluted $ (0.13) $ 0.88) $ 0.

nappa hides

2
percent of sales, compared with $3.5 percent decline
compared with $51.

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Culp, III, chief executive officer
of Culp, Inc. To partially offset higher raw material
costs, we are implementing a price increase of approximately three
percent in this segment during the fourth quarter of this fiscal year. For the fourth quarter, upholstery
fabrics segment sales are expected to decrease somewhat more than the
third quarter decline of 15. upholstery fabric operations and
improving profitability in this part of our business.10 per diluted share,
after taxes). The video will highlight the latest in western fashions from
the annual runway fashion show held at the Western + English Sales
Association 's (WESA) annual Market trade show.

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3
million, or 4.6
million at the end of fiscal 2004.08 per diluted share in the fourth
fiscal quarter, excluding previously announced restructuring and
related charges , with the actual results depending primarily on the
level of demand throughout the quarter."
The company estimates that restructuring and related charges of
approximately $4. dollar against other currencies could make
the company's products less competitive on the basis of price in
markets outside the United States.7 million ($1.

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1 million, or $0.5 million, or $0. More
importantly, the expected $4.

wyny hazlett

9 million, or $0. Excluding the $1. Operating income for this segment was $1. Operating margins in this segment
were affected by industry-wide pricing pressures, as well as higher
raw material costs and manufacturing variances related to the
relocation of mattress ticking looms.0 million, compared with operating income of $2.0 percent reported for the second quarter of this
year .39
Average shares
outstanding:
Basic 11,550,000 11,529,000 11,549,000 11,522,000
Diluted 11,550,000 11,859,000 11,549,000 11,764,000

(a) Excludes restructuring and related charges of $5.1 million, or $0.30
Restructuring and
related charges
and goodwill
impairment, net
of income taxes 0.

VIDEO PROVIDED BY: Western + English Sales Association

FOR MORE INFORMATION, PLEASE CALL:
MultiVu Media Relations, 800-653-5313 EXT.

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Business Editors

HIGH POINT , N. Net loss for the first nine months of fiscal 2005
was $10. "Additionally, because of scheduled holiday plant
closings, the third fiscal quarter is typically a slower period of the
year for our business. This $7.4 percent of sales, for the same period a year ago. is one of the world's largest marketers of mattress
fabrics for bedding and upholstery fabrics for furniture. Likewise, increases in interest rates, particularly home
mortgage rates, and increases in consumer debt or the general rate of
inflation, could affect the company adversely.4 million ($3.42) $ 0. For more
information visit http://www.

corrected tanners

5 million, or $0.13 per diluted
share. and Canada and the
purchase of new weaving machines that are faster and more efficient
than the equipment they will replace. Such
statements are often but not always characterized by qualifying words
such as "expect," "believe," "estimate ," "plan" and "project" and
their derivatives, and include but are not limited to statements about
the company's future operations, production levels, sales, SG+A or
other expenses, margins, gross profit, operating income, earnings or
other performance measures.30
Net income (loss)
per share, diluted,
excluding
restructuring and
related charges,
goodwill impairment
and early
extinguishment
of debt(a) $ (0.29 -- 0.13) $ 0.

synthetically pigmented

Additionally , to partially offset higher
raw material prices, we have recently announced a price increase of
approximately three to four percent on our domestically produced
upholstery fabrics.S. (A reconciliation of the projected net loss per share
calculation has been set forth on page 6.70 per diluted share, after taxes) for the first nine months
of fiscal 2005. For the third quarter and nine months ended
February 1, 2004, excludes charge for early extinguishment of
debt of $1.35
--------------
Projected range of pro forma net loss per diluted share $(0.
Video feature segments highlighting the newest western fashions will be
available January 21, 2005.denver-wesa.

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06 per diluted share, for the third quarter of
fiscal 2004.10 per diluted
share, related to the prepayment of debt. Excluding this charge for
the early extinguishment of debt, net income for the third fiscal
quarter of fiscal 2004 was $1.4 million in the third quarter of fiscal 2004. The restructuring is
moving ahead as planned and we believe that the steps we are taking
today will place Culp in a stronger position in terms of both
operating efficiency and higher asset utilization. "Our cash position was $13.5 percent.70 --
Early extinguishment
of debt, net of
income taxes -- 0.39
=========== =========== ============ ============

Reconciliation of Projected Range of Net Loss Per Share to
Projected Range of Pro Forma Net Loss Per Share
(Unaudited)

Three Months
Ending
May 1,
2005
--------------
Projected range of net loss per diluted share $(0.

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1 million, or $0.1
million charge for the early extinguishment of debt, net income for
the first nine months of fiscal 2004 was $4.5 million in savings will allow us to
compete more effectively and sustain our leadership position. Operating income margin in this
segment is expected to improve from the third quarter and approximate
the margin of 10 .S.03 to $0. Forward-looking statements are statements that
include projections, expectations or beliefs about future events or
results or otherwise are not statements of historical fact. Finally,
unanticipated delays or costs in executing restructuring actions could
cause the cumulative effect of restructuring actions to fail to meet
the objectives set forth by management.08)
==============

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1 million, or $0.6
million compared with $25.1 percent of
sales, for the prior-year period.
We are enthusiastic about the momentum in our offshore
manufacturing and sourcing programs which significantly enhance our
ability to meet the changing demands of our customers as they continue
to source an increasing amount of fabrics and cut-and-sewn kits from
Asia. Also, economic and political
instability in international areas could affect the company's
operations or sources of goods in those areas, as well as demand for
the company's products in international markets.29 per diluted share, after taxes) for the third
quarter of fiscal 2005. 3

aniline lederval

30 per diluted share, for the same
period of fiscal 2004.6 million, or $0. However , we are
continuing to evaluate our costs and manufacturing capacity throughout
our U.

Outlook

Commenting on the outlook for the remainder of the fiscal year
ending May 1, 2005, Culp continued , "Given current market conditions,
we expect to see a year-over-year decline in our overall sales
performance for the fourth quarter that is slightly higher than the
sales decrease in our third fiscal quarter of 9.0 million or
$0. The latest trends
in western wear include coordinating hats and boots, the newest denim designs,
and outerwear made of furs, leather and micro-suede.

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The
company reported a net loss of $4.)
For the nine months ended January 30, 2005, the company reported
net sales of $212.1 million for the third quarter of fiscal
2004.S.
Culp noted, "The purpose of our restructuring plan in the
upholstery fabrics segment, announced in October 2004, is to
consolidate our decorative fabrics weaving and yarn operations, reduce
manufacturing complexities and lower costs , and significantly reduce
selling, general and administrative expenses.

Balance Sheet

"One of our important financial goals is to maintain a sound
balance sheet," added Culp. Such statements are
inherently subject to risks and uncertainties.

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16 per diluted share.
As previously announced in October of 2004, we have identified
opportunities to reduce our operating costs by consolidating our
mattress ticking operations.S. capacity, combined with the raw
material price increases we are experiencing, will result in an
operating loss, although smaller than that reported in the third
fiscal quarter for this segment. Decreases in these economic
indicators could have a negative effect on the company's business and
prospects.06 $ (0.43)
Projected restructuring and related charges,
net of income taxes 0.

suedes aniline

1
million, compared with net sales of $76. The financial results for the third quarter of fiscal
2005 include after-tax restructuring and related charges of $3. Excluding restructuring and related charges and
goodwill impairment, net loss for the first nine months of fiscal 2005
was $2. In light of these factors, we expect
to report a net loss of $0.S. Other factors that could
affect the matters discussed in forward-looking statements are
included in the company's periodic reports filed with the Securities
and Exchange Commission.

CULP, INC.

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"While sales for the quarter
were up approximately two percent in absolute dollars, we actually
sold close to nine percent more yards of ticking than we did a year
ago. This transition is well underway
and is expected to be completed as planned by August 2005.5 million, a 15.S.8 percent. However, we
are encouraged by the recent trends in our mattress ticking business
and we expect mattress ticking sales will show a modest gain over
fourth quarter sales last year.)
Culp added, "We clearly recognize the challenges facing our
domestic upholstery fabric business and we will continue to adapt our
strategy to meet these challenges head on.88) $ 0.10 -- 0.38)-(0.

suedes pigmented

6 million a year ago. Overall , we
are pleased with the progress we have made with respect to our
strategic plan to reconfigure Culp's manufacturing operations and
believe we are taking the right steps to move the company forward in
today's global marketplace.
Overall, sales reflect continued soft demand industry-wide for U. operations and remain committed to adjusting our domestic
cost structure as necessary to keep it in line with expected demand
for U.S. produced products.35 per diluted share,
will be incurred during the fourth fiscal quarter.38 to $0.43 per diluted
share."

About the Company

Culp , Inc. Excludes restructuring and related
charges and goodwill impairment of $12.10
Effect of dilutive
stock options -- -- -- (0.01)
----------- ----------- ------------ ------------
Diluted net income
per share,
adjusted $ (0.

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Overview

For the three months ended January 30, 2005, net sales were $69.0 million for the same
period a year ago.39 per
diluted share.
produced upholstery fabrics resulting primarily from the current
consumer preference for leather and suede furniture as well as
customer selection of other imported fabrics. Operating loss for this
segment was $2. Long-term debt stands at $50.1 percent.

CULP, INC.42) $ 0.42) $ 0.03)-(0. Preview the western
fashions coming to retailers this spring.

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(A reconciliation of the net income (loss) and net income (loss) per
share calculations has been set forth on Page 6.
"Our results for the third quarter primarily reflect continued
soft demand for domestically produced upholstery fabrics and, to a
lesser extent, pricing pressures for mattress ticking and higher raw
material costs," remarked Robert G. Our expectation of this seasonal softness in
sales put an even greater emphasis on efficiently managing our
operations and controlling expenses during the quarter.S. With respect to the upholstery fabrics segment, while we expect
continued growth in sales of fabrics sourced outside the U.0 million, net of taxes, or $0.9 million ($8. NEW YORK,

NEWS: SEE THE LATEST FASHIONS OF WESTERN AND ENGLISH EQUESTRIAN APPAREL

STORY SUMMARY:
Cowboy chic is all the rage in western fashion apparel.

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---

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