Foamex Receives Court Approval for Sale of Assets to MatlinPatterson/Black Diamond Group

Path to Emergence from Chapter 11 Finalized
MEDIA, Pa.--(Business Wire)--
Foamex International Inc., a leading producer of polyurethane foam-based
solutions and specialty comfort products, announced today that the U.S.
Bankruptcy Court for the District of Delaware has entered an order approving the
sale of substantially all of Foamex`s assets as a going concern to a group
comprised of certain affiliates of MatlinPatterson Global Opportunities Partners
III L.P. ("MatlinPatterson") and Black Diamond Capital Management, L.L.C.
("Black Diamond"). Foamex anticipates that both the closing of the transaction
and the Company`s emergence from Chapter 11 will occur in June 2009.

"We are delighted with the outcome of this process," said Jack Johnson, Foamex
President and Chief Executive Officer. "As we had hoped for at the outset of the
filing, Foamex has emerged from the process expeditiously and with a stronger
balance sheet. I would like to thank MatlinPatterson for their help in getting
us to this point by supporting the Company with the Stalking Horse Bid and
providing DIP financing. We will move forward as a private company, building on
the technological excellence and innovative leadership for which Foamex is
known," he said.

Johnson continued, "We are excited to be joining forces with the
MatlinPatterson/Black Diamond team and fully expect many benefits to flow to our
customers by providing:

* Additional resources, which will greatly enhance Foamex`s capabilities,
increased innovation and ultimately more value to our customers;
* Access to MatlinPatterson/Black Diamond`s expertise regarding acquisition and
alternative financial investment strategies, each of which will provide Foamex
with a stronger balance sheet and in turn our customers with a stronger and more
versatile supplier; and
* Continuity of management and strategic direction, allowing the Company to
continue to provide the high quality products and services that our customers
demand."

Johnson added, "I would like to thank our valued customers, employees, and
suppliers for their support during this process and for working with us
faithfully to a successful outcome of this balance sheet restructuring."

In the next few weeks, Foamex will provide additional details on its emergence
and the exciting next phase for the Company.

About Foamex International Inc.

Foamex, headquartered in Media, PA, is the world's 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 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.

Foamex International Inc.
Investors
Investor Relations Department
800-451-3801
or
Media
Devine + Powers
Don Galletly, 215-568-2525
Christine Reimert, 610-639-2136

Copyright Business Wire 2009