WINSTON-SALEM, N.C. (Sept. 5, 2006) — Hanesbrands Inc. (NYSE:HBI), a leading marketer of innerwear, outerwear and hosiery apparel, was spun-off today as an independent company from Sara Lee Corporation. Hanesbrands stock will begin trading tomorrow, Sept. 6, 2006, on the New York Stock Exchange under the ticker symbol HBI.

“We are very excited to be launching an independent and more focused Hanesbrands Inc.,” said Lee A. Chaden, executive chairman of Hanesbrands. “We have 50,000 enthusiastic employees worldwide ready to propel the biggest and best apparel essentials company to new heights and deliver greater value to shareholders, customers and consumers.”

Chaden and Hanesbrands CEO Richard A. Noll will ring the ceremonial bell to open trading tomorrow at the New York Stock Exchange. Commencement of trading marks the final step in introducing Hanesbrands Inc., which was added to the S&P Midcap 400 Index after the close of trading today, as an independent publicly traded consumer goods company with more than a century of history and a portfolio of leading apparel brands, including Hanes, Champion, Playtex, Bali, Just My Size, barely there and Wonderbra.

“Hanesbrands is a large, strong and successful company that is going to get better by benefiting from greater focus as an independent public company,” Noll said. “Hanesbrands has tremendous opportunity for growth and improvement through steady and strong cash flow, cost-saving initiatives and investment in powerful brands and product lines. We intend to build our largest and strongest brands, such as Hanes, Champion, Playtex, Bali and others, in core categories through continued innovation of key products.”

Hanesbrands sells high-volume and frequently purchased apparel products such as underwear, T-shirts, bras, panties, socks, casualwear and activewear. The company’s brands hold either the No.1 or No. 2 sales market position in their key U.S. product categories. The company manufactured and sold more than 400 million T-shirts and almost half a billion pairs of socks in fiscal year 2005.

Hanesbrands, the largest seller of apparel essentials in the United States, as measured by sales, generated $4.7 billion in net sales and $406 million in operating profit in fiscal 2005. The company has generated more than $2 billion in cash flow over the past four years.

Morgan Stanley & Co. and Merrill Lynch acted as financial advisors for the spin-off.

Hanesbrands Inc.

Hanesbrands Inc. is a leading marketer of innerwear, outerwear and hosiery apparel under strong consumer brands, including Hanes, Champion, Playtex, Bali, Just My Size, barely there and Wonderbra. The company designs, manufactures, sources and sells T-shirts, bras, panties, men’s underwear, children’s underwear, socks, hosiery, casual wear and active wear. Hanesbrands has approximately 50,000 employees in 24 countries. More information about Hanesbrands Inc. may be found on the internet at http://www.hanesbrands.com.

Cautionary Statement Concerning Forward-Looking Statements

All statements contained in this press release, other than statements of historical fact, are forward-looking statements, including those regarding our launch as an independent company and the benefits expected from that launch. These statements speak only as of the date of this press release and are based on our current plans and expectations, and they involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to our ability to migrate our production and manufacturing operations to lower-cost centers around the world; the highly competitive and evolving nature of the industry in which we compete; our ability to effectively manage our inventory and reduce inventory reserves; any loss of or reduction in sales to any of our top customers; risks associated with our foreign operations or foreign supply sources; the impact of economic and business conditions and industry trends in the countries in which we operate our supply chain; any failure by us to protect against dramatic changes in the volatile market price of cotton; our substantial debt and debt-service requirements that restrict our operating and financial flexibility and impose significant interest and financing costs; future financial performance, including availability, terms and deployment of capital; and the outcome of any pending or threatened litigation. Further information about these matters can be found in our Securities and Exchange Commission filings. We expressly disclaim any intent or obligation to update these forward-looking statements, other than as required by law.