Pai Lung Group Purchases Vanguard Supreme

A group headed by Taiwan-based Pai Lung Machinery Mill Co. Ltd. has purchased Monroe, N.C.-based
Vanguard Supreme Machine Co. A new company, Vanguard Pai Lung LLC, has been created that will
operate under the leadership of James Wang, Bill Moody and Leo Yates. Vanguard Pai Lung will
maintain its headquarters and production facility in Monroe, and will supply Vanguard Supreme and
Pai Lung circular knitting machinery, as well as rebuilt and used circular machinery, new and
rebuilt flat knitting machines, and replacement parts and technical services.

The acquisition will allow the companies to combine research and development and sales and
marketing functions, and bring a wider range of products to the customer.

November 18, 2009