Mr. Glenn Chamandy reports

STATEMENT BY GLENN J. CHAMANDY

Glenn J. Chamandy, co-founder as well as former president and chief executive officer of Gildan Activewear Inc., has issued a statement.

Mr. Chamandy stated: "Contrary to media reports, I gave no ultimatum to Gildan's board with respect to any strategy or potential acquisitions.

"This is a sideshow to distract from the reaction the shareholders have had with respect to the board's handling of succession planning, in which I was not involved. I did not and could not orchestrate or control the events; the board conducted the process.

"I do believe it is essential that a leadership transition be conducted in a manner consistent with Gildan's successful track record. Preserving our talent, culture and expertise -- the pillars of our success -- is vital. Obviously, considering shareholder engagement is integral to the decision-making process."