Postponement Of Distribution Date Under The JPS Industries Rights Agreement

GREENVILLE, S.C., Feb. 6, 2015 /PRNewswire/ -- As previously announced, on January 26, 2015, Handy & Harman Ltd. ("HNH"), through a wholly owned subsidiary, commenced an unsolicited tender offer (the "Tender Offer") to acquire shares of common stock of JPS Industries, Inc. (the "Company") (OTC: JPST) for a price of $10.00 per share in cash, subject to certain conditions set forth therein.

Because consummation of the Tender Offer would result in Steel Partners Holdings, L.P., an affiliate of HNH, being the beneficial owner of 5% or more of the then-outstanding shares of Company stock, a "Distribution Date" under the Company's Rights Agreement would occur on the close of business on February 9, 2015.

As contemplated and permitted by the Company's Rights Agreement, on February 5, 2015, the Special Committee of the Board of Directors of the Company (the "Special Committee"), in accordance with its authority delegated from the Company's Board of Directors, approved resolutions to postpone the Distribution Date until such date as subsequently determined by the Special Committee and to announce the same publicly.

Contact: JPS Industries Investor Relations, 864-239-3900

SOURCE JPS Industries, Inc.