Gildan to Present at Institutional Investor Conference

MONTREAL, QUEBEC, Jan 15 (MARKET WIRE) --
Gildan Activewear Inc. (TSX: GIL)(NYSE: GIL) announced that Laurence G.
Sellyn, Executive Vice President, Chief Financial and Administrative
Officer, will present an overview of the Company's business plans and
financial objectives at the Tenth Annual ICR XChange Conference in Dana
Point, California, on Wednesday, January 16, 2008 at 1:25 p.m. PST.

At the conference, the Company will reiterate that it continues to be
comfortable with its most recent EPS guidance, provided on December 6,
2007, of approximately U.S. $1.85 for fiscal 2008, and confirm that it
expects to achieve or exceed its EPS guidance of U.S. $0.21 for the first
quarter of fiscal 2008.

Gildan's presentation at the ICR XChange conference will be simulcast
online and will be available on the Company's web site,
http://gildan.com/corporate/IR/webcastPresentations.cfm, or at the
following URL:
http://www.corporate-ir.net/ireye/conflobby.zhtml?ticker=GIL&item_id=1732769.
A replay of the webcast will be available about three hours after the
conclusion of the live presentation and will be available for the next 30
days, at the locations listed above.

Profile

Gildan is a vertically-integrated marketer and manufacturer of quality
branded basic apparel. The Company is the leading supplier of activewear
for the wholesale imprinted sportswear market in the U.S. and Canada, and
also a leading supplier to this market in Europe. The Company sells
T-shirts, sport shirts and fleece in large quantities to wholesale
distributors as undecorated "blanks", which are subsequently decorated by
screenprinters with designs and logos. Consumers ultimately purchase the
Company's products, with the Gildan label, in venues such as sports,
entertainment and corporate events, and travel and tourism destinations.
The Company's products are also utilized for work uniforms and other
end-uses to convey individual, group and team identity. In addition to
continuing its growth within the wholesale channel, Gildan is
implementing a major new growth initiative to sell socks, underwear and
activewear to mass-market retailers in North America.

Certain statements included in this press release may constitute
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and Canadian securities
legislation and regulations. Such forward-looking statements involve
assumptions and known and unknown risks, uncertainties and other factors,
including, but not limited to: general economic conditions such as
currency exchange rates, commodity prices and other factors over which we
have no control; the impact of economic and business conditions, industry
trends and other external and political factors in the countries in which
we operate; the intensity of competitive activity; changes in
environmental, tax, trade and other laws and regulations; our ability to
implement our strategies and plans; our ability to complete and
successfully integrate acquisitions; our reliance on a small number of
significant customers; changes in consumer preferences, customer demand
for our products and our ability to maintain customer relationships and
grow our business; our customers do not commit to minimum quantity
purchases; the seasonality of our business; our ability to attract and
retain key personnel; high reliance on computerized information systems;
changes in accounting policies and estimates; and, disruption to
manufacturing and distribution activities due to labour disruptions, bad
weather, natural disasters and other unforeseen adverse events, which
could cause actual results to differ materially from future results
expressed or implied by such forward-looking statements. You should not
place undue reliance on these forward-looking statements, which are made
only as of the date of this press release. We refer you to the Company's
filings with the U.S. Securities and Exchange Commission and Canadian
securities regulatory authorities for a discussion of other factors that
may affect the Company's future results.

Contacts:
Gildan Activewear Inc.
Sophie Argiriou
Director, Investor Communications
514-343-8815
sargiriou@gildan.com

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