----QUAKER FABRIC
CORPORATION (NASDAQ Symbol: QFAB) today reported net sales of $59.4 million,
and diluted and basic earnings per share of $0. Liebenow.
"Because of our disappointing financial performance over the past
several quarters, we are currently operating with the benefit of
waivers from our two principal lenders with respect to certain of the
financial covenants in our loan documents.5% 5.

Business Editors

FALL RIVER, Mass.

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02 per share, but that are not expected
to have a material effect on the company's financial results going
forward," Mr.9)%
Selling, general and admin.0% 22. This event will be
available, free of charge, through Quaker's website, located at
www.

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8%.
"New orders during the first quarter were down 15. We are also moving forward with a
brand-new and very aggressive program to penetrate the outdoor
furniture segment.1 million, a net loss of ($2.quakerfabric .

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"
"Looking ahead, we anticipate that our margin performance should
begin to benefit shortly from the effects of the price increase we
announced last month and the aggressive cost-cutting measures we
implemented during the first quarter. We also believe that the raw
material sourcing issues that affected our costs and service levels
during the first quarter are largely behind us, that our cost
structure is now consistent with current demand and that the
additional product/market initiatives needed to achieve our
longer-term objectives are in place.18) $0. as a percentage of net sales 20. For a further
discussion of these factors, see the Company's 2004 10-K.

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1%, respectively , versus last year - largely because of
the continued strength of imported leather and faux suede products in
the U.2%
S.

Business Editors/Financial Editors

FALL RIVER, Mass. For those unable to listen to
the live broadcast, a replay will be available beginning approximately
two hours after the event.

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----QUAKER FABRIC
CORPORATION (NASDAQ Symbol: QFAB) today announced execution of a
commitment letter, subject to certain conditions, from Bank of
America, N. Consummation of this transaction will allow us to repay
our outstanding indebtedness to the Prudential in full and is intended
to provide us with the capital needed to pursue the execution of our
corporate strategy over the next several years.

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18) for the three-month period ended April 2, 2005;
compared to net sales of $84. that we executed earlier this week reflects the
achievement of an important milestone in this process," Mr.7)%
========= =========
Earnings (loss) per common share -
basic ($0.----QUAKER FABRIC
CORPORATION (NASDAQ Symbol: QFAB) plans to announce first quarter
financial results after the market closes on Wednesday, April 20. Listeners should go to the website at least
fifteen minutes before the call to register and to download and
install any necessary audio software.

panelling sailcloth

Business Editors/Apparel /Textile Writers

FALL RIVER, Mass.
Quaker Fabric Corporation is a leading manufacturer of woven
upholstery fabrics for furniture markets in the United States and
abroad, and the largest producer of Jacquard upholstery fabric in the
world.

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14 and $0.
THIS PRESS RELEASE CONTAINS "FORWARD LOOKING STATEMENTS," AS THAT
TERM IS DEFINED IN THE FEDERAL SECURITIES LAWS.8)%
Cost of products sold 51,534 65,689

--------- ------- --
Gross margin 7,681 18,695 (58.5%
Net margin -5.m. Kelly, Quaker's Vice President and
CFO.

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A.
Mr.0
million secured senior credit facility. For the year ended January 1, 2005, the Company had net sales
of $289.

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4 million , net income of $2. + A. The
company also plans to broadcast its quarterly results conference call
on Thursday, April 21 at 9:00 a.com.

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15,
respectively, for the corresponding period of fiscal 2004 .2 million, respectively, were off
33.7 million," commented Larry Liebenow, Quaker's
President and CEO. Indeed, a
number of non-recurring factors put substantial pressure on our first
quarter margin performance, including significant increases in our raw
material, overtime and inventory carrying costs related to Solutia's
decision to exit the acrylic fiber business and the liquidation of
Du -Re, both of which have historically been important suppliers for
us. Liebenow continued. For the year ended January 1, 2005, the Company had net sales
of $289.

Quaker Fabric Corporation is a leading manufacturer of woven
upholstery fabrics for furniture markets in the United States and
abroad, and the largest producer of Jacquard upholstery fabric in the
world. which would provide Quaker with a five year, $70.

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2
million, a net loss of ($3. market, which has reduced demand for the woven fabrics we
make, and general economic weakness in a number of the export markets
we serve , particularly Europe and Mexico. Moving our numbers in the other
direction was an adjustment in certain assumptions used to value
benefits due Quaker's executives under the terms of our non-qualified
deferred compensation plan, as well as a waiver of certain accrued
plan benefits by four senior officers of the company, including me,
that together reduced the company's first quarter net loss by
approximately $337,000 or $0.2%, however, we
ended the quarter with an order backlog valued at approximately $28 . - and a program to further expand our residential
business by distributing certain imported fabrics that we don't have
the equipment to make ourselves. Liebenow concluded.15 (220.

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12).0)%
========= =========
Weighted average shares outstanding -
basic 16,826 16,810
========= =========
Earnings (loss) per common share -
diluted ($0.G.9 %
Order backlog $27,969 $25,829

CONDENSED BALANCE SHEETS

April 2, Jan. 1,
2005 2005
--------- -------- -

Assets
Current assets:
Cash and cash equivalents $1,588 $4,134
Accounts receivable 39,682 40,708
Inventories 49,591 43,533
Prepaid expenses and other
current assets 12 ,031 12,130
--------- ---------
Total current assets 102,892 100,505

Property, plant and equipment, net 154,962 158,480
Goodwill, net of amortization 5,432 5,432
Other assets 2,383 2,088
--------- ---------
$265,669 $266,505
========= =========

Liabilities and Stockholders' Equity
Current liabilities $71,152 $67 ,197
Deferred income taxes and other
liabilities 31,077 32,816
Stockholders' equity 163,440 166,492
--------- ---------
$265,669 $266,505
========= =========

This document contains "forward looking statements ," as that term is
defined in the federal securities laws.

Quaker Fabric Conference Call Announcement

THIS PRESS RELEASE CONTAINS "FORWARD LOOKING STATEMENTS," AS THAT
TERM IS DEFINED IN THE FEDERAL SECURITIES LAWS.

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"Weakness at the revenue line continues to be our biggest issue,
with net sales for the quarter down 29.3 million and $7.2% and 21.0 million), and diluted and basic
losses per share of ($0. THE READER IS
CAUTIONED THAT SUCH STATEMENTS ARE NOT GUARANTEES OF FUTURE
PERFORMANCE AND THAT, AS A RESULT OF VARIOUS FACTORS, INCLUDING, BUT
NOT LIMITED TO, THE LEVEL OF CUSTOMER DEMAND FOR THE COMPANY'S
PRODUCTS, HIGHER THAN ANTICIPATED COSTS, ANY INTERRUPTION IN THE
SUPPLY OF RAW MATERIALS USED BY THE COMPANY AND LOWER THAN ANTICIPATED
PRODUCTION RATES, ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE
PROJECTED. The reader is cautioned that
such statements are not guarantees of future performance and that, as
a result of various factors, including, but not limited to, the level
of customer demand for the Company's products, higher than
anticipated costs and lower than anticipated production rates, actual
results may differ materially from those projected. Eastern .12).

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6 million at year-end 2004 and $25. We are using the results of the market study we
commissioned late last year to refine our market-facing strategies and
are generally encouraged by the response our newest product
introductions received at this month's High Point Furniture Market
which is just now winding down. expenses 12,149 14,025
--------- ---------
Operating income (loss) (4,468) 4,670 (195.6%
Operating margin -7.
"This is a welcome and very significant milestone in our efforts
to put new financing arrangements in place consistent with Quaker's
current needs.

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Yarn sales , primarily into
the craft yarn segment, remained very strong, however, with first
quarter sales of $5. We have been working to put
new financing arrangements in place, and the commitment letter from
Bank of America, N. Liebenow continued, "We are continuing to focus on building
volume in all of the markets we have traditionally served, including
the development and introduction of new sueded products for the
residential market intended to compete with the faux suede products
coming into the U.2)%
Provision (benefit) for income taxes (2,214) 1,401
--------- ---------
Net income (loss) ($3,090) $2,438 (226.1 million, a net loss of ($2.

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FOR A FURTHER DISCUSSION OF THESE FACTORS, SEE THE
COMPANY'S 2004 FORM 10-K.
"We have enjoyed the benefit of an excellent working relationship
with Bank of America and its predecessors for many years now and are
pleased by their decision to issue this commitment letter to us,"
commented Larry A.

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Liebenow
said.S.14 (228.

Quaker Fabric Reports Execution of Bank Commitment Letter

THE READER IS
CAUTIONED THAT SUCH STATEMENTS ARE NOT GUARANTEES OF FUTURE
PERFORMANCE AND THAT, AS A RESULT OF VARIOUS FACTORS, INCLUDING, BUT
NOT LIMITED TO, THE LEVEL OF CUSTOMER DEMAND FOR THE COMPANY'S
PRODUCTS, HIGHER THAN ANTICIPATED COSTS, ANY INTERRUPTION IN THE
SUPPLY OF RAW MATERIALS USED BY THE COMPANY AND LOWER THAN ANTICIPATED
PRODUCTION RATES, ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE
PROJECTED.

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"We have been working diligently to reduce our costs, and our
monthly financial performance so far this year reflects sequential
improvement , however, most of the benefits associated with our
cost-cutting efforts are not yet evident in our financials.7)%
Other expenses
Interest expense 748 847
Other expenses (income) 88 (16)
- -------- ---------
Income (loss) before provision for
income taxes (5,304) 3,839 (238.

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QUAKER FABRIC Reports First Quarter Financial Results

1 million), and diluted and basic losses
per share of ($0.S. In addition, a number of other expenses related to our overall
cost reduction and refinancing efforts also hit the P+L during the
first quarter, including various banking and professional fees, as
well as certain one-time charges associated with the reduction in
force we completed during the quarter.
Quaker Fabric Corporation is a leading manufacturer of woven
upholstery fabrics for furniture markets in the United States and
abroad, and the largest producer of Jacquard upholstery fabric in the
world.5% 16. We look forward to
working with the bank to bring this financing to a successful
conclusion as quickly as the required due diligence and documentation
processes permit," added Paul J.

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0
million, compared to $14.2% 2. FOR A FURTHER DISCUSSION OF THESE FACTORS, SEE THE
COMPANY'S 2004 FORM 10-K.

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QUAKER FABRIC CORPORATION

CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except per share data)

STATEMENTS OF INCOME

First Quarter Ended

April 2, April 3, Percent
2005 2004 Change
--------- --------- --------

Net sales $59,215 $84,384 (29.

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Domestic and international
fabric sales of $46.8 million
at the end of last year's first quarter," added Mr. We look forward to tackling the
challenges that lie ahead as we continue to do our very best to serve
our customers, shareholders , employees and other stakeholders well,"
Mr.18) $0.

A.0 million,) and diluted and basic
losses per share of ($0.

chivasso rkb

6)%
========= =========

Weighted average shares outstanding -
diluted 16,826 17,307
========= =========

Other data:
------------------------- -----------
Gross profit margin 13. Liebenow, Quaker's President and CEO.