Prince Street Technologies, Ltd.

Prince Street Technologies, Ltd., ("Prince Street") a $35 million producer of innovative and technically advanced commercial broadloom carpet based in Atlanta, Georgia, was acquired by Interface, Inc. (NYSE), the world's leading manufacturer of carpet tiles.

Dr. Robert Weiner, Prince Street's founder and president, built the company around a design-intensive approach that fit well with Interface's strategy of dominating the high-end commercial segment of the carpet industry.

Prince Street was founded in 1985 by Dr. Robert S. Weiner and certain other investors. Dr. Weiner sought to take advantage of the lack of product innovation in the commercial carpet industry. Prince Street achieved its market position by producing a unique series of textured patterned carpets that have great density and elegance, with the looks and styles that replicate hand woven styles costing two to three times as much.

Interface paid stock and assumed debt. The acquisition was a purchase acquisition, despite the use of stock. The acquisition fills a strategic void in Interface's product offering at the very high end of the custom commercial market. Prince Street brings Interface unmatched product development expertise and an impeccable brand name in the custom commercial marketplace.