Lanty L. Smith serves as Chairman of the Board of Directors of Precision Fabrics. Mr. Smith organized Precision Fabrics in 1988 to purchase the existing businesses of the Precision Fabrics Division of Burlington Industries, Inc.

Mr. Smith was president of Burlington from 1986 to 1988. He joined Burlington as executive vice president and senior general counsel and then progressively assumed operating responsibility for several Burlington Divisions. Prior to joining Burlington, Mr. Smith was a partner in the law firm of Jones, Day, Reavis & Pogue, which is headquartered in Cleveland, Ohio.

Mr. Smith is also Chairman and CEO of Tippet Capital, LLC and Chairman of the Executive Committee of the Board of Directors of The Greenwood Group, Inc. of which he was a co-founder in 1992. It operates the second largest franchise worldwide of Manpower Temporary Services. Mr. Smith holds numerous other board memberships in banking, higher education, healthcare and civic organizations.

Mr. Smith is a native of Sherrodsville, Ohio. He is an honors graduate in mathematics of Wittenberg University of Springfield, Ohio, and he earned a law degree with honors from Duke University. Mr. Smith and his wife, Margaret, have three daughters and two grandchildren, and reside in Raleigh, NC.