3 supplier to that market. Dixie associates were among those this year to receive  a Circle Of Excellence award from Fleetwood Homes. To receive the annual award, a supplier must have scored above 98 percent on Fleetwood’s customer satisfaction index that includes timely deliveries, superior quality, and product problem resolution. We are moving forward to refinance our senior credit facility and have executed a commitment letter for replacement financ- ing with a new lender with the goal of having a new credit facility in place in the second quarter of 2002. Our debt, includ- ing amounts advanced under the Company's accounts receivable securitiza- tion program, was reduced over $47.0 million during 2001. The majority of the debt reduction was accomplished by tight control of working capital and capital spending. Over the past year, we have built a stronger company and have made progress in nearly all areas of measure- ment. With the market positions we enjoy in our primary businesses, we believe we are now on course to take advantage of opportunities that will occur as the economy improves and the floor- covering industry continues to consolidate. We look forward to addressing an improv- ing economy with our more efficient operations and improved cost position. We are determined to continuously improve our company for our shareholders, customers and associates. While business started out soft in the first quarter of 2002, the momentum we are seeing in most of our markets makes us optimistic that sales and profitability will be stronger this year. We are excited about our new business relationships, new products and the changes that are taking place in our markets. We thank our shareholders for their  continued support and confidence and our associates for their hard work and dedication. Daniel K. Frierson Chairman and Chief Executive Officer March 19, 2002 THE DIXIE GROUP  / 2001 ANNUAL REPORT Letter to Shareholders