RSTWIII Invests $20 million in Mattress Giant

DALLAS, Aug. 9 /PRNewswire/ -- Dallas based Mattress Giant Corporation announces that Rice Sangalis Toole & Wilson ("RSTW") of Houston, Texas has invested senior subordinated debt, and acquired an ownership interest in the retail bedding chain.  The transaction closed on August 1, 2000.  The bedding retailer has also refinanced its credit facilities with the assistance of Bank One, Texas, NA ("Bank One"), and Fleet Capital Corporation ("Fleet Capital").  Phil Lang, CEO and President of Mattress Giant sees the new partnership with RSTW and the refinancing of its senior credit facilities as vital to the continued growth of the chain.  "Here we grow again!  Our new partners at RSTW and our new credit facilities with Bank One and Fleet Capital will allow us to achieve our goal of 20% growth for the year 2000, and to continue such growth for the next several years," said Lang.  The Texas based chain currently has approximately 200 retail locations throughout the United States with existing locations in Florida, Illinois, Maryland, Minnesota, Missouri, New Hampshire, New Jersey, Rhode Island, Massachusetts, Pennsylvania, Delaware, and Texas.  Mattress Giant intends to continue its rapid growth by adding 30-50 retail outlets each year as a result of its new credit facilities.  The privately held chain specializes in the retail sale of bedding and related supplies.