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The Board of Directors of Znojmo Resigned

November 30, -0001

Henry Gregson has resigned from the board of directors of Znojmo, Poland-based Pegas Nonwovens. Mr. Gregson served as a board member of Pegas Nonwovens from November 2006 through December 2007 and—as a representative of the previous majority shareholder Pamplona—contributed to the company’s successful IPO in December 2006 and to the performance of the company over the last two years. Pegas is now in the final procedural stages of naming a replacement interim non-executive member of the board of directors. This will be subject to authorization at the company’s AGM in June 2008.