DELTA WOODSIDE INDUSTRIES INC. (DLW) announced a modified dutch auction tender offer for some of its 9 5/8% senior notes due 2007. The Greenville, S.C. textile products company is inviting holders to submit offers to sell notes within a range of $500 to $540 per $1,000 principal amount. Holders whose notes are accepted for purchase will also receive accrued and unpaid interest upon consummation of the tender offer. The tender offer expires at 5:00 p.m. ET on May 1 unless extended or earlier terminated. Tenders may be made or withdrawn at any time prior to the expiration date. Delta Mills said it will spend up to $23.0 million excluding accrued interest on the tender. Offers will be accepted, starting with the lowest, and continuing in order of increasing price until Delta Mills reaches the $23.0 million level. Delta Mills will pay to all holders whose offers are accepted the highest price offer accepted. The offer is being funded from working capital and from funds available under Delta Mills' revolving credit facility. Banc of America Securities LLC (888 292-0070 or call collect 704 388-2842) is the dealer manager, The Bank of New York is the depositary and D.F. King & Co., Inc. (800 949-2583 or call collect 212 269-5550) is the information agent .

CYDSA SA DE CV said Wednesday (April 3) that it received enough votes to pass the extraordinary resolution to extend the maturity of the notes and amend certain covenants in the trust deed relating to the notes. The adjourned extraordinary meeting of noteholders will be held on Friday April 5. In addition, Cydsa said $40.4 million of the $200 million 9.375% notes due 2002 had been validly tendered and not withdrawn, satisfying the minimum requirement for its tender offer. Cydsa also extended the expiration date to 12.00 p.m. ET on April 5, shortly after the adjourned meeting of noteholders. It extended the proxy submission date and proxy payment deadline to 5:00 p.m. ET on April 3. AS PREVIOUSLY ANNOUNCED, Cydsa, SA de CV said on April 2 that it had extended its previously announced tender offer for its 9 3/8% notes due 2002. The offer, which was to have expired on April 1, was extended to 5 p.m. ET on April 2, subject to possible further extension. At that point, some $29 million of the notes had been tendered by their holders. Cydsa further announced that it had also extended to 5 p.m. ET on April 2 the proxy submission deadline and proxy payment deadline for its proxy solicitation undertaken in connection with its tender offer. Cydsa, a Monterrey, Mexico-based producer of chemicals, plastics, textile and flexible packaging, said on March 8 that it had extended its pending cash tender offer for its US$200 million of outstanding 9 3/8% notes to March 15 (the offer for the notes was disclosed to the company's debtholders in a Proxy Solicitation Statement and Offer to Purchase, dated Jan, 25, but was not believed to have been publicly announced at that time; Cydsa had also before that time distributed to all noteholders a letter of eligibility seeking to ascertain whether the holder could be considered a Qualified Institutional Buyer, as defined in Rule 144A, or could be considered to be outside the U.S. under Regulation S, both under the U.S. Securities Act of 1933, as amended). Cydsa said at that time that it expected to shortly announce the date, time and location of its Adjourned Meeting of noteholders and would send a notice of the adjourned meeting to holders of the notes. Cydsa also said it would announce in the near future the date and time by which holders of record must deliver duly executed proxies in order to vote by proxy at the Adjourned Meeting. Earlier on March 18, Cydsa had extended the tender offer deadline to 5 p.m. ET on March 22, which was subsequently extended again in a second announcement released later that same day. At that time, Cdysa also announced that it had amended the terms of the tender offer; in place of the original offer for all of the outstanding notes, the company said it would now offer to purchase for cash from eligible noteholders up to US $40 million of its notes at a price of US$520 per US$1,000 principal amount of notes, plus accrued and unpaid interest up to, but not including, the date of purchase. It said that noteholders who had already tendered their notes under the offer's original terms and who had not withdrawn them, would not need to take any further action to participate in the tender offer. It said that up to that point, approximately US $12.158 million of the notes had been tendered to the depositary for the offer. Cydsa further announced that the previously adjourned meeting of noteholders for the purpose of considering an extraordinary resolution which would extend the maturity of the notes and amend certain covenants in the trust deed relating to the notes would be held at 3 p.m. London time on April 5, at the offices of Linklaters, located at One Silk Street in London. It extended to 10 a.m. ET on April 2 the proxy submission deadline by which the noteholders of record must deliver duly executed proxies in order to vote by proxy at the adjourned noteholders' meeting, and also extended to that time the proxy payment deadline, by which the noteholders must deliver to the proxy and information agent duly executed, unrevoked proxies in favor of the extraordinary resolution in order to be eligible to receive the proxy fee (both deadlines subsequently extended to later that same day). Unless revoked, duly executed proxies delivered to the proxy and information agent prior to that date in accordance with the terms of the proxy solicitation will remain in effect for the adjourned meeting. Cydsa said its tender offer was conditioned upon, among other things, A) the passage of the extraordinary resolution by at least 75% in aggregate principal amount of the notes voted at the adjourned meeting, at which a quorum of eligible holders of record representing more than 50% of the outstanding principal amount of notes (other than those notes held by Cydsa or Cydsa's nominees) is represented in person or by proxy; and (B)) notes representing at least US$40 million must have been validly tendered, and not withdrawn under the tender offer or otherwise purchased by Cydsa, by the tender offer deadline. Cydsa may in its discretion waive any or all such conditions.

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