Foamex Provides Update on Debt Reduction and Growth Initiatives

LINWOOD, Pa.--(Business Wire)--
Foamex International Inc. (OTC:FMXL), a leading producer of
polyurethane foam-based solutions and specialty comfort products, held
its 2008 Annual Meeting of Stockholders on July 18, 2008 in Linwood,
PA. At the meeting, Eugene I. Davis, Robert B. Burke, Seth Charnow,
Thomas M. Hudgins, John G. Johnson, Jr., David J. Lyon, and Gregory E.
Poling were elected to serve as directors for a term of one year.

The Company also announced that total debt as of June 29, 2008 was
approximately $417.6 million, after giving effect to the previously
announced $100 million put option to certain stockholders. The Company
has already received assignments of second lien term loans in the
amount of $13 million in connection with its second lien term loan
offering, which expires July 24, 2008. The second term lien loan
offering and rights offering are anticipated to close on July 30,
2008.

At the Annual Meeting, Jack Johnson, President and Chief Executive
Officer of Foamex reviewed the Company's growth plans for the future.
Highlighted in the discussion was the further expansion of the
Company's footprint in Asia. Mr. Johnson also discussed the
establishment of retail sales for its new sleep accessories product
lines, including memory foam pillows and mattress toppers. He noted
that the Company has expanded its Auburn, IN fabrication and packaging
operations to handle this downstream big box market. In addition, he
commented on the successful launch of several sustainable specialty
foam products for home furnishings, explaining that the Company is
leveraging its patented VPF technology and proprietary formulations
utilizing renewable plant-based ingredients. Finally, he outlined
several current and upcoming key product launches for the electronics,
medical, and industrial markets. Mr. Johnson concluded by stating
that: "All of these growth initiatives will enhance shareholder
value."

About Foamex International Inc.

Foamex, headquartered in Linwood, PA, is a leading producer of
polyurethane foam-based solutions and specialty comfort products. The
Company services the bedding, furniture, carpet cushion and automotive
markets and also manufactures high-performance polymers for diverse
applications in the industrial, aerospace, defense, electronics and
computer industries. For more information visit the Foamex web site at
http://www.foamex.com.

Forward-Looking Statements

This press release contains, and oral statements made from time to
time by representatives of the Company may contain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Such forward-looking statements include, without
limitation, future operating results, operating efficiencies, future
market prices and margins, future energy costs, future government and
legislative action, future cost savings, future benefit costs, the
Company's liquidity and ability to finance its operations, and other
statements that are not historical facts that involve certain risks,
uncertainties and assumptions. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual outcomes may vary materially from those indicated.
Additional information that could cause actual results to vary
materially from the results anticipated may be found in the Company's
most recent Form 10-K and other reports filed with the Securities and
Exchange Commission. Readers should be aware that any forward-looking
statement made in this press release or elsewhere by the Company
speaks only as of the date on which it was made, and the Company
disclaims any obligation or intent to update any of the factors listed
above or forward-looking statements.

Investors
Investor Relations Department
800-451-3801
or
Media
Andrew Prusky
Foamex International Inc.
610-859-3114

Copyright Business Wire 2008