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                                                                    Exhibit 99.3


[LOGO]                                                       POLYMER GROUP, INC.
                                                                   P.O. BOX 5069
                                                        N. CHARLESTON, SC  29405
                                                       CONTACT:  ROBERT JOHNSTON
                                                                    843-566-7293


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                       PGI INVESTOR RELATIONS NEWS RELEASE
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            POLYMER GROUP, INC. RECEIVES FINAL COURT APPROVAL FOR ITS
                           $125 MILLION DIP FACILITY


FOR IMMEDIATE RELEASE

FRIDAY, MAY 31, 2002

[NORTH CHARLESTON, SOUTH CAROLINA] -- Polymer Group, Inc. (OTCBB: PMGPQ)
announced today that it received final approval from the U.S. Bankruptcy Court
in Columbia, South Carolina to access its $125 million debtor-in-possession
(DIP) facility.

On May 11, 2002, Polymer Group, Inc. and 20 domestic subsidiaries filed
voluntary petitions for a "pre-negotiated" reorganization under Chapter 11 of
the U.S. Bankruptcy Code. In conjunction with the Chapter 11 filing, the Company
received commitments for up to $125 million in debtor-in-possession (DIP)
financing from a group of lenders led by JPMorgan Chase that will be used to
fund post-petition operating expenses and to meet supplier and employee
obligations. The Company had already received prior approvals from the court,
which included among others, approvals to continue to pay employee wages and
benefits, pay suppliers for post-petition delivery of goods and services and to
continue ordinary customer programs and practices.

As part of the "pre-negotiated" reorganization, the Company has a commitment for
up to $75 million from CSFB Global Opportunities Partners, L.P., a New
York-based investment fund, and holder of more than two-thirds in principal
amount of the Company's outstanding Senior Subordinated Notes.


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Polymer Group, Inc., the world's third largest producer of nonwovens, is a
global, technology-driven developer, producer and marketer of engineered
materials. With the broadest range of process technologies in the nonwovens
industry, PGI is a global supplier to leading consumer and industrial product
manufacturers. The Company employs approximately 4,000 people and operates 25
manufacturing facilities throughout the world. Polymer Group, Inc. is the
exclusive manufacturer of Miratec(R) fabrics, produced using the Company's
proprietary advanced APEX(R) laser and fabric forming technologies. The Company
believes that Miratec(R) has the potential to replace traditionally woven and
knit textiles in a wide range of applications. APEX(R) and Miratec(R) are
registered trademarks of Polymer Group, Inc.

Except for historical information contained herein, the matters set forth in
this press release are forward-looking statements that involve certain risks and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements. Factors that may cause actual
results to differ from those indicated in forward-looking statements can
include, but are not limited to, the following: (i) the filing of the voluntary
petitions under Chapter 11 of the U.S. Bankruptcy Code by the Company and its
domestic subsidiaries; (ii) increased competition in markets in which the
Company competes, (iii) increased costs, (iv) changes in conditions of the
general economy, and (v) the Company's substantial leverage position. Investors
and other readers are directed to consider the risks and uncertainties discussed
in documents filed by Polymer Group, Inc. with the Securities and Exchange
Commission, including the Company's 2001 Annual Report on Form 10-K.

For further information, please contact:

         Robert Johnston or
         Dennis Norman
         Polymer Group, Inc.
         P.O. Box 5069
         North Charleston, SC 29405
         Telephone  No.:   (843) 566-7293
         Web:              www.polymergroupinc.com
         E-mail:           johnstonr@pginw.com