Document:

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                                                                   EXHIBIT 10.12

                                                          Date: October 26, 2001

                                LIMITED GUARANTY

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BANK:                                        GUARANTOR:

Bank of America, N.A.                        HUNT FAMILY INVESTMENTS, L.L.L.P.
101 North Tryon Street
NC1-001-13-26
Charlotte, North Carolina 28255

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"BORROWER":  HORIZON MEDICAL PRODUCTS, INC.

1.       GUARANTY. FOR VALUE RECEIVED, and to induce Bank of America, N.A.
("Bank") to make loans or advances or to extend credit or other financial
accommodations or benefits, with or without security, to or for the account of
Borrower, the undersigned "Guarantor", if more than one, then each of them
jointly and severally, hereby becomes surety for and irrevocably and
unconditionally guarantees to Bank prompt payment in an amount as provided
herein, when due, whether by acceleration or otherwise, of the Liabilities of
Borrower to Bank except as limited below. This Guaranty is cumulative to and
does not supersede any other guaranties.

         This Guaranty is continuing and limited to the amount Bank obtains from
the Collateral described in paragraph 15 hereof. Guarantor unconditionally
guarantees the faithful, prompt and complete compliance by Borrower with all
Obligations (as hereinafter defined) but the foregoing guarantee and other
obligations and liabilities hereunder are limited to the amount Bank obtains
from the Collateral described in Paragraph 15. The undertakings of Guarantor
hereunder are independent of the Liabilities and Obligations of Borrower and a
separate action or actions for payment, damages or performance may be brought or
prosecuted against Guarantor, whether or not an action is brought against
Borrower or to realize upon the security for the Liabilities and/or Obligations,
whether or not Borrower is joined in any such action or actions, and whether or
not notice is given or demand is made upon Borrower.

Bank shall not be required to proceed first against Borrower, or any other
person or entity, whether primarily or secondarily liable, or against any
collateral held by it, before resorting to the Collateral described in Paragraph
15 pledged by Guarantor for payment, and Guarantor shall not be entitled to
assert as a defense to the enforceability of the Guaranty any defense of
Borrower with respect to any Liabilities or Obligations.

2.       PARAGRAPH HEADINGS, GOVERNING LAW AND BINDING EFFECT. Guarantor agrees
that the paragraph headings in this Guaranty are for convenience only and that
they will not limit any of the provisions of this Guaranty. Guarantor further
agrees that this Guaranty shall be governed by and construed in accordance with
the laws of the State of Georgia and applicable United States federal law.
Guarantor further agrees that this Guaranty shall be deemed to have been made in
the State of Georgia at Bank's address indicated above, and shall be governed
by, and construed in accordance with, the laws of the State of Georgia, or the
United States courts located within the State of Georgia, and is performable in
the State of Georgia. This Guaranty is binding upon Guarantor, his, their or its
executors, administrators, successors or assigns, and shall inure to the benefit
of Bank, its successors, indorsees or assigns. Anyone executing this Guaranty
shall be bound by the terms hereof without regard to execution by anyone else.

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3.       DEFINITIONS.

         A.       "Guarantor" shall mean Guarantor or any one or more of them.

         B.       "Liability" or "Liabilities" shall mean all liabilities,
indebtedness, and obligations of Borrower to Bank under that certain Promissory
Note dated May 26, 1998, made by Borrower to the order of Bank in the principal
face amount of Fifty Million Dollars ($50,000,000) (hereinafter referred to as
the "Note"), and under that certain Amended and Restated Credit Agreement, dated
as of May 26, 1998, (the "Credit Agreement") as amended by the First Amendment
to Amended and Restated Credit Agreement dated as of November 11, 1998, the
Second Amendment to Amended and Restated Credit Agreement and Waiver dated as of
March 31, 1999 the Third Amendment to the Amended and Restated Credit Agreement
and Waiver dated March 29, 2000 the Fourth Amendment to the Amended and Restated
Credit Agreement and Waiver dated June 6, 2000 the Fifth Amendment to the
Amended and Restated Credit Agreement and Waiver dated August 14, 2000 and by
that certain Forbearance Agreement dated March 30, 2001, as amended by that
certain First Amendment to Forbearance Agreement dated March 31, 2001 and that
certain Second Amendment to Forbearance Agreement dated October 16, 2001 and all
sums payable under or by virtue thereof, including without limitation, all
amounts of principal and interest, all expenses (including reasonable attorney's
fees and cost of collection) incurred in the collection thereof or the
enforcement of rights thereunder. If Borrower is a partnership, corporation or
other entity the term "Liability" or "Liabilities" as used herein shall include
all Liabilities to Bank of any successor entity or entities.

         C.       "Loan Documents" shall mean the Note, the Credit Agreement,
this Guaranty and that certain Pledge Agreement of even date herewith with
regard to the Collateral described in paragraph 15 hereof.

         D.       "Obligation" or "Obligations" shall mean all terms,
conditions, covenants, agreements and undertakings of Borrower under the Note
and the Credit Agreement.

4.       WAIVERS BY GUARANTOR. Guarantor waives notice of acceptance of this
Guaranty, notice of any Liabilities or Obligations to which it may apply,
presentment, demand for payment, protest, notice of dishonor or nonpayment of
any Liabilities, notice of intent to accelerate, notice of acceleration, and
notice of any suit or the taking of other action by Bank against Borrower,
Guarantor or any other person, any applicable statute of limitations and any
other notice to any party liable on any Loan Document (including Guarantor).

Each Guarantor also hereby subordinates to Bank any claim, right or remedy which
such Guarantor may now have or hereafter acquire against Borrower that arises
hereunder and/or from the performance by any other Guarantor hereunder
including, without limitation, any claim, remedy or right of subrogation,
reimbursement, exoneration, contribution, indemnification, or participation in
any claim, right or remedy of Bank against Borrower or against any security
which Bank now has or hereafter acquires, whether or not such claim, right or
remedy arises in equity, under contract, by statute, under common law or
otherwise.

Guarantor also waives the benefits of any provision of law requiring that Bank
exhaust any right or remedy, or take any action, against Borrower, any
Guarantor, any other person and/or property including but not limited to the
provisions of the Official Code of Georgia ss.10-7-24 and the Official Code of
Georgia ss.11-3-601, inclusive, as amended, or otherwise.

Bank may at any time and from time to time (whether before or after revocation
or termination of this Guaranty) without notice to Guarantor (except as required
by law), without incurring responsibility to Guarantor, without impairing,
releasing or otherwise affecting the Obligations of Guarantor, in whole or in
part, and without the indorsement or execution by Guarantor of any additional
consent, waiver or guaranty: (a) change the manner, place or terms of payment,
or change or extend the time of or renew, or change any interest rate or alter
any Liability or Obligation or installment thereof, or any security therefor;
(b) loan additional monies or extend additional credit to Borrower, with or
without security, thereby creating new Liabilities or Obligations; however, this
Guaranty is limited to the amount Bank obtains from the Collateral described in
paragraph 15 hereof; (c) sell, exchange, release, surrender, realize upon or
otherwise deal with in any manner and in any order any property at any time
pledged or mortgaged to secure the Liabilities or Obligations and any offset
there against; (d) exercise or refrain from exercising any rights against
Borrower or others (including Guarantor) or act or refrain from acting in any
other manner; (e) settle or compromise any Liability or Obligation or any
security therefor and subordinate the payment of all or any part thereof to the
payment of any Liability or Obligation of any other parties primarily or
secondarily liable on any of the Liabilities or Obligations; (f) release or
compromise any Liability of Guarantor hereunder or any Liability or Obligation
of any other parties primarily or secondarily liable on any of the Liabilities
or Obligations; or (g) apply any sums from any sources to any Liability without
regard to any Liabilities remaining unpaid.

5.       SUBORDINATION. Upon demand of Bank, Guarantor agrees that it will not
demand, take or receive from Borrower, by set-off or in any other manner,
payment of any debt, now and at any time or times hereafter owing by Borrower to
Guarantor unless and until all the Liabilities and Obligations shall have been
fully paid and performed, and any security interest, liens or

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encumbrances which Guarantor now has and from time to time hereafter may have
upon any of the assets of Borrower shall be made subordinate, junior and
inferior and postponed in priority, operation and effect to any security
interest of Bank in such assets.

6.       WAIVERS BY BANK. No delay on the part of Bank in exercising any of its
options, powers or rights, and no partial or single exercise thereof, shall
constitute a waiver thereof. No waiver of any of its rights hereunder, and no
modification or amendment of this Guaranty, shall be deemed to be made by Bank
unless the same shall be in writing, duly signed on behalf of Bank; and each
such waiver, if any, shall apply only with respect to the specific instance
involved, and shall in no way impair the rights of Bank or the obligations of
Guarantor to Bank in any other respect at any other time.

7.       TERMINATION. This Guaranty shall be binding on each Guarantor until
written notice of revocation signed by such Guarantor or written notice of the
death of such Guarantor shall have been received by Bank, notwithstanding change
in name, location, composition or structure of, or the dissolution, termination
or increase, decrease or change in personnel, owners or partners of Borrower, or
any one or more of Guarantors. No notice of revocation or termination hereof
shall affect in any manner rights arising under this Guaranty with respect to
Liabilities or Obligations that shall have been committed, created, contracted,
assumed or incurred prior to receipt of such written notice pursuant to any
agreement entered into by Bank prior to receipt of such notice. The sole effect
of such notice of revocation or termination hereof shall be to exclude from this
Guaranty, Liabilities or Obligations thereafter arising that are unconnected
with Liabilities or Obligations theretofore arising or transactions entered into
theretofore.

In the event of the death of a Guarantor, the liability of the estate of the
deceased Guarantor shall continue in full force and effect as to (i) the
Liabilities existing at the date of death, and any renewals or extensions
thereof, and (ii) loans or advances made to or for the account of Borrower after
the date of the death of the deceased Guarantor pursuant to a commitment made by
Bank to Borrower prior to the date of such death. As to all surviving
Guarantors, this Guaranty shall continue in full force and effect after the
death of a Guarantor, not only as to the Liabilities existing at that time, but
also as to Liabilities thereafter incurred by Borrower to Bank.

8.       PARTIAL INVALIDITY AND/OR ENFORCEABILITY OF GUARANTY. The
unenforceability or invalidity of any provision of this Guaranty shall not
affect the enforceability or validity of any other provision herein and the
invalidity or unenforceability of any provision of any Loan Document as it may
apply to any person or circumstance shall not affect the enforceability or
validity of such provision as it may apply to other persons or circumstances.

In the event Bank is required to relinquish or return the payments, the
collateral or the proceeds thereof, in whole or in part, which had been
previously applied to or retained for application against any Liability, by
reason of a proceeding arising under the Bankruptcy Code, or for any other
reason, this Guaranty shall automatically continue to be effective
notwithstanding any previous cancellation or release effected by Bank.

9.       CHANGE OF STATUS. Guarantor will not become a party to a merger or
consolidation with any other company, except where Guarantor is the surviving
corporation or entity, and all covenants under this Guaranty are assumed by the
surviving entity. Further, Guarantor may not change its legal structure, without
the written consent of Bank and all covenants under this Guaranty are assumed by
the new or surviving entity. Guarantor further agrees that this Guaranty shall
be binding, legal and enforceable against Guarantor in the event Borrower
changes its name, status or type of entity.

10.      FINANCIAL AND OTHER INFORMATION. Guarantor agrees to furnish to Bank
any and all financial information and any other information regarding Guarantor
and/or collateral requested in writing by Bank within ten (10) days of the date
of the request. Guarantor has made an independent investigation of the financial
condition and affairs of Borrower prior to entering into this Guaranty, and
Guarantor will continue to make such investigation; and in entering into this
Guaranty Guarantor has not relied upon any representation of Bank as to the
financial condition, operation or creditworthiness of Borrower. Guarantor
further agrees that Bank shall have no duty or responsibility now or hereafter
to make any investigation or appraisal of Borrower on behalf of Guarantor or to
provide Guarantor with any credit or other information which may come to its
attention now or hereafter.

11.      NOTICES. Notice shall be deemed reasonable if mailed postage prepaid at
least five (5) days before the related action to the address of Guarantor or
Bank, at their respective addresses indicated at the beginning of this Guaranty,
or to such other address as any party may designate by written notice to the
other party. Each notice, request and demand shall be deemed given or made, if
sent by mail, upon the earlier of the date of receipt or five (5) days after
deposit in the U.S. Mail, first class postage prepaid, or if sent by any other
means, upon delivery.

12.      GUARANTOR DUTIES. Guarantor shall upon notice or demand by Bank
promptly and with due diligence pay all Liabilities and perform and satisfy all
Obligations for the benefit of Bank in the event of (a) the occurrence of any
default under any Loan Documents; (b) the failure of any Borrower or Guarantor
to perform any obligation or pay any liability or indebtedness of

<PAGE>

any Borrower or Guarantor to Bank, or to any affiliate of Bank, under the Note;
(c) other than as agreed to or required by Bank in that certain Second Amendment
to Forbearance Agreement by and between Borrower, Horizon Acquisition Corp.,
Strato/infusaid, inc. and Stepic Corporation and Bank, the resignation or
withdrawal of any partner or a material owner/Guarantor of Borrower, as
determined by Bank in its sole discretion; (d) the commencement of a proceeding
against any Borrower or Guarantor for dissolution or liquidation, the voluntary
or involuntary termination or dissolution of any Borrower or Guarantor or the
merger or consolidation of any Borrower or Guarantor with or into another
entity; (e) the insolvency, or the business failure of, or the appointment of a
custodian, trustee, liquidator or receiver for or of any of the property of, or
the assignment for the benefit of creditors by, or the filing of a petition
under bankruptcy, insolvency or debtor's relief law or the filing of a petition
for any adjustment of indebtedness, composition or extension by or against any
Borrower or Guarantor; (f) the sole determination by Bank that any
representation or warranty to Bank in any Loan Document or otherwise to Bank was
untrue or materially misleading when made; (g) the failure of Borrower to timely
deliver such financial statements including tax returns and all schedules, or
other statements of condition or other information, as required by the Loan
Documents.

13.      REMEDIES. Upon the failure of Guarantor to fulfill its duty to pay all
Liabilities and perform and satisfy all Obligations as required hereunder, Bank
shall have all of the remedies of a creditor and, to the extent applicable, of a
secured party, under all applicable law, and without limiting the generality of
the foregoing, Bank may, at its option and without notice or demand: (a) declare
any Liability due and payable at once; (b) take possession of the collateral
pledged by Guarantor wherever located, and sell, resell, assign, transfer and
deliver all or any part of said collateral of Guarantor at any public or private
sale or otherwise dispose of any or all of the collateral in its then condition,
for cash or on credit or for future delivery, and in connection therewith Bank
may impose reasonable conditions upon any such sale, and Bank, unless prohibited
by law the provisions of which cannot be waived, may purchase all or any part of
said collateral to be sold, free from and discharged of all trusts, claims,
rights or redemption and equities of Guarantor whatsoever; Guarantor
acknowledges and agrees that the sale of any collateral through any nationally
recognized broker- dealer, investment banker or any other method common in the
securities industry shall be deemed a commercially reasonable sale under the
Uniform Commercial Code or any other equivalent statute or federal law, and
expressly waives notice thereof except as provided herein; and (c) set-off
against any or all liabilities of Guarantor all money owed by Bank or any of its
agents or affiliates in any capacity to Guarantor whether or not due, and also
set-off against all other Liabilities of Guarantor to Bank all money owed by
Bank in any capacity to Guarantor, and if exercised by Bank, Bank shall be
deemed to have exercised such right of set-off and to have made a charge against
any such money immediately upon the occurrence of such default although made or
entered on the books subsequent thereto.

14.      ATTORNEY FEES, COST AND EXPENSES. Guarantor shall pay all costs of
collection and reasonable attorney's fees actually incurred, including
reasonable attorney's fees in connection with any suit, mediation or arbitration
proceeding, out of Court payment agreement, trial, appeal, bankruptcy
proceedings or otherwise, incurred or paid by Bank in enforcing the payment of
any Liability or defending this agreement.

15.      COLLATERAL. Guarantor contemporaneously herewith shall pledge, assign
and grant to Bank a security interest in and title to certain issued and
outstanding shares of capital stock of the Borrower owned by the Guarantor and
described in the pledge agreement or other collateral instrument dated of even
date herewith which collateral shall secure this Guaranty, whether currently
existing or arising in the future. Guarantor agrees to execute such pledge
agreements, financing statements and other documents as Bank may reasonably
require or request to obtain and perfect its security interest in said
collateral.

16.      PRESERVATION OF PROPERTY. Bank shall not be bound to take any steps
necessary to preserve any rights in any property pledged as collateral to Bank
to secure Borrower and/or Guarantor's Liabilities and Obligations as against
prior parties who may be liable in connection therewith, and Borrower and
Guarantor hereby agree to take any such steps. Bank, nevertheless, at any time,
may (a) take any action it deems appropriate for the care or preservation of
such property or of any rights of Borrower and/or Guarantor or Bank therein; (b)
demand, sue for, collect or receive any money or property at any time due,
payable or receivable on account of or in exchange for any property pledged as
collateral to Bank to secure Borrower and/or Guarantor's Liabilities to Bank;
(c) compromise and settle with any person liable on such property; or (d) extend
the time of payment or otherwise change the terms of the Loan Documents as to
any party liable on the Loan Documents, all without notice to, without incurring
responsibility to, and without affecting any of the Obligations or Liabilities
of Guarantor.

17.      CONTROLLING DOCUMENT. To the extent that this Limited Guaranty
conflicts with or is in any way incompatible with any other Loan Document
concerning this Obligation, any promissory note shall control over any other
document, and if such promissory note does not address an issue, then each other
document shall control to the extent that it deals most specifically with an
issue.

18.      EXECUTION UNDER SEAL. This Guaranty is being executed under seal by
Guarantor.

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19.      NOTICE OF FINAL AGREEMENT. THIS WRITTEN LIMITED GUARANTY REPRESENTS THE
         FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY
         EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF
         THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
         PARTIES.

20.      DOES NOT SUPERCEDE. THIS LIMITED GUARANTY DOES NOT SUPERCEDE ANY
         PREVIOUS GUARANTY THAT GUARANTOR MAY HAVE EXECUTED IN FAVOR OF BANK IN
         CONNECTION WITH THE OBLIGATIONS OR LIABILITIES OF BORROWER.

21.      NON-RECOURSE GUARANTY. NOTWITHSTANDING ANYTHING TO THE CONTRARY
         CONTAINED HEREIN, THIS LIMITED GUARANTY IS A NON-RECOURSE GUARANTY AND
         ACCORDINGLY GUARANTOR SHALL HAVE NO LIABILITY WHATSOEVER FOR ANY
         LIABILITIES OR OBLIGATIONS AND BANK'S REMEDIES SHALL BE LIMITED TO THE
         AMOUNT BANK OBTAINS FROM THE COLLATERAL DESCRIBED IN PARAGRAPH 15
         HEREOF.

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IN WITNESS WHEREOF, the undersigned has caused this Guaranty to be executed
under seal on this 26th day of October, 2001.

                                    GUARANTOR:

                                    HUNT FAMILY INVESTMENTS, L.L.L.P.

                                    By:  /s/ Marshall B. Hunt         (Seal)
                                         ----------------------------

                                    Name:  Marshall B. Hunt

                                    Title: Managing General Partner

ACKNOWLEDGMENT

State of Georgia          )
                          )
County of Cobb            )

This instrument was acknowledged before me on October 26, 2001, by Marshall B.
Hunt, Managing General Partner of HUNT FAMILY INVESTMENTS, L.L.L.P., a Georgia
limited partnership, on behalf of said partnership.

                                                /s/ Suzanne Mason (Seal)
                                                -----------------
                                                Notary Public
                                                in and for the State of Georgia

Notary Public, Cobb County, Georgia             Suzanne Mason
                                                --------------------------------
My Commission Expires:  May 16, 2003            Print Name of Notary<PAGE>
                                                                     EXHIBIT 4.1

                       FIRST AMENDMENT TO CREDIT AGREEMENT

         This FIRST AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is made and
entered into as of the 25th day of July, 2001, by and among RUSSELL CORPORATION,
an Alabama corporation ("Russell"), RUSSELL EUROPE LIMITED, a corporation
organized under the laws of the United Kingdom ("Russell Europe"), the banks
listed on the signature pages hereof (collectively "Banks"), WACHOVIA BANK,
N.A., as Administrative Agent, SUNTRUST BANK (formerly known as SunTrust Bank,
Atlanta), as Syndication Agent, and FIRST UNION NATIONAL BANK, as Documentation
Agent.

                                    RECITALS:

         Russell, Russell Europe, the Administrative Agent, the Syndication
Agent, the Documentation Agent and the Banks are parties to a certain Credit
Agreement dated as of October 15, 1999 (the "Credit Agreement"), pursuant to
which Banks have made various loans and other extensions of credit from time to
time to Russell and Russell Europe. The parties desire to amend the Credit
Agreement as hereinafter set forth.

         Russell and Russell Europe have requested Administrative Agent and
Banks to waive Borrower's compliance with certain provisions of the Credit
Agreement from the date hereof through September 17, 2001. Administrative Agent
and Lenders are willing to issue such a waiver on the terms set forth below.

         NOW, THEREFORE, for TEN DOLLARS ($10.00) in hand paid and other good
and valuable consideration, the receipt and sufficiency of which are hereby
severally acknowledged, the parties hereto, intending to be legally bound
hereby, agree as follows:

         1.       DEFINITIONS. All capitalized terms used in this Amendment,
unless otherwise defined herein, shall have the meaning ascribed to such terms
in the Credit Agreement.

         2.       AMENDMENTS TO CREDIT AGREEMENT. The Credit Agreement is hereby
amended as follows:

         a.       By adding the following definitions in Section 1.01, in proper
         alphabetical sequence:

                  "1992 Note Agreements" means those certain Note Agreements
         dated as of December 1, 1992, with respect to 6.72% Senior Notes issued
         by the Borrower in the original aggregate principal amount of
         $75,000,000 due August 31, 2002.

                  "1995 Note Agreement" means that certain Note Agreement dated
         as of December 7, 1995, with respect to 6.78% Senior Notes issued by
         the Borrower in the original principal amount of $100,000,000 due
         November 30, 2008.

                  "1997 Note Agreement" means that certain Note Agreement dated
         as of August 28, 1997, with respect to 6.65% Senior Notes issued by the
         Borrower in the original principal amount of $125,000,000 due August
         28, 2007.

<PAGE>

                  "Account" shall have the meaning ascribed to the term
         "account" in the UCC.

                  "Amendment Date" means July 25, 2001.

                  "Bridge Loan Agent" means Wachovia or other Person, in its
         capacity as administrative and collateral agent for the Bridge Loan
         Banks under the Bridge Loan Documents.

                  "Bridge Loan Agreement" means the Term Credit Agreement which
         may be entered into among Russell Financial, the Bridge Loan Agent and
         the Bridge Loan Banks pursuant to which the Bridge Loan Banks may agree
         to fund term loan advances to Russell Financial in an aggregate amount
         up to $75,000,000.

                  "Bridge Loan Banks" means banks that may become parties to the
         Bridge Loan Agreement from time to time.

                  "Bridge Loan Documents" means the Bridge Loan Agreement and
         any other documents evidencing, relating to, guaranteeing or securing
         any of the obligations of Russell Financial or any other Person under
         the Bridge Loan Agreement or delivered by or on behalf of Russell
         Financial or any guarantor of the obligations of Russell Financial
         under the Bridge Loan Agreement.

                  "Chattel Paper" shall have the meaning ascribed to the term
         "chattel paper" in the UCC.

                  "Collateral" means, with respect to Russell Financial and each
         guarantor (other than Russell) of the obligations of Russell Financial
         under the Bridge Loan Documents, (i) all of each such Person's
         Accounts, (ii) all Payment Intangibles of each guarantor (other than
         Russell) of the obligations of Russell Financial under the Bridge Loan
         Documents, (iii) all General Intangibles of Russell Financial, (iv) all
         of each such Person's Supporting Obligations, (v) all of each such
         Person's Purchase Agreement Rights, (vi) all of each such Person's
         Deposit Accounts, (vii) all of each such Person's monies now or at any
         time or times hereafter in the possession or under the control of
         Bridge Loan Agent or any Bridge Loan Bank or an Affiliate of Bridge
         Loan Agent or any Bridge Loan Bank, (viii) all substitutions for and
         all replacements, products and cash and non-cash proceeds of the
         preceding clause (i) through (vii) above (including proceeds that may
         constitute Chattel Paper or Instruments); and (ix) all books and
         records (including customer lists, files, correspondence, tapes,
         computer programs, print-outs, and other computer materials and
         records) of such Person pertaining to any of the above-described
         assets.

                  "Cross Creek" means Cross Creek Apparel, LLC, a North Carolina
         limited liability company.

                  "Deposit Account" shall have the meaning ascribed to the term
         "deposit account" in the UCC.

                  "DeSoto" means DeSoto Mills, Inc., an Alabama corporation.

                                      - 2 -

<PAGE>
                  "Domestic Subsidiary" means a Subsidiary organized under the
         laws of a state of the United States of America or the District of
         Columbia.

                  "Extraordinary Expenses" means all costs, expenses, fees or
         advances that Administrative Agent or any Bank may suffer or incur,
         whether prior to or after the occurrence of any Event of Default, on
         account of or in connection with the enforcement of any provisions of
         the Loan Documents or realization upon any Properties at any time
         securing the payment of the whole or any part of the Obligations,
         including legal fees incurred by the Administrative Agent or any Bank.

                  "Foreign Subsidiary" means any Subsidiary that is not a
         Domestic Subsidiary.

                  "Instrument" shall have the meaning ascribed to the term
         "instrument" in the UCC.

                  "Note Agreements" means, collectively, (i) the 1992 Note
         Agreements, (ii) the 1995 Note Agreement and (iii) the 1997 Note
         Agreement.

                  "Obligations" all indebtedness, liabilities and obligations of
         the Borrower under this Agreement or any of the other Loan Documents,
         including the principal of and interest with respect to the Loans and
         all Extraordinary Expenses, in each case whether now owed or hereafter
         incurred or arising and whether absolute or contingent, primary or
         secondary, due or to become due, joint or several, or legal or
         equitable.

                  "Payment Intangible" shall have the meaning ascribed to the
         term "payment intangible" in the UCC.

                  "Purchase Agreement Rights" means all rights and remedies of
         any Person under or in connection with any of the Receivables Purchase
         Agreements.

                  "Receivable" has the meaning ascribed to it in each of the
         Receivables Purchase Agreements.

                  "Receivables Purchase Agreements" means, collectively, (i) the
         Amended and Restated Receivable Purchase and Sale Agreement dated
         August 3, 2001, between Russell Financial, as buyer, and Cross Creek
         Apparel, LLC, as seller, (ii) the Amended and Restated Receivable
         Purchase and Sale Agreement dated August 3, 2001, between Russell
         Financial, as buyer, and DeSoto Mills, Inc., as seller, and (iii) the
         Amended and Restated Receivable Purchase and Sale Agreement dated
         August 3, 2001, between Russell Financial, as buyer, and the Borrower,
         as seller, as such agreements may be amended, restated, modified or
         otherwise supplemented with the prior written consent of Administrative
         Agent.

                  "Receivables Purchase Documents" means, collectively, (i) the
         Receivables Purchase Agreements, (ii) the Receivables Collection and
         Administrative Services Agreement dated October 5, 1998, between
         Russell Servicing Co., Inc. and Russell Financial, (iii) the
         Administrative Services Agreement dated October 5, 1998,

                                      - 3 -

<PAGE>
         between the Borrower and Russell Financial, and (iv) any and all other
         documents executed or delivered in connection with or pursuant to any
         Receivables Purchase Agreements.

                  "Reconveyed Receivable" has the meaning ascribed to it in each
         of the Receivables Purchase Agreements.

                  "Restrictive Agreement" means an agreement (other than any of
         the Loan Documents) that, if and for so long as the Borrower or any
         Subsidiary is a party thereto, would prohibit, condition or restrict
         the Borrower's or such Subsidiary's right to incur or repay Debt
         (including any of the Loans); grant Liens upon any of the Borrower's or
         such Subsidiary's Properties (including Liens that may be granted to
         the Bridge Loan Agent pursuant to the Bridge Loan Documents); declare
         or make Restricted Payments; amend, modify, extend or renew any
         agreement evidencing Debt (including any of the Loan Documents); or
         repay any Debt owed by the Borrower to any Subsidiary or by any
         Subsidiary to the Borrower or another Subsidiary.

                  "Russell Financial" means Russell Financial Services, Inc., a
         Tennessee corporation.

                  "Significant Domestic Subsidiary" means, on any date of
         determination, each Domestic Subsidiary, which either individually or
         together with its own subsidiaries accounted for more than 2% of the
         Consolidated Operating Profits during the 4 Fiscal Quarters immediately
         preceding the date of determination or has assets that represent more
         than 2% of Consolidated Total Assets at the end of the most recent
         Fiscal Year immediately preceding the date of determination.

                  "Stated Term" means the term of the Commitments, which shall
         commence on the date of this Agreement and shall end on October 15,
         2004, unless sooner terminated as provided herein.

                  "SunTrust Loan Agreement" means the Term Loan/Bankers'
         Acceptance Agreement dated as of June 30, 1995, between Russell and
         SunTrust Bank (formerly known as Trust Company Bank), as amended, and
         the related imbedded interest rate swap agreement.

                  "Supporting Obligation" shall have the meaning ascribed to the
         term "supporting obligation" in the UCC.

                  "UCC" means the Uniform Commercial Code (or any successor
         statute) as adopted and in force in the State of Georgia from time to
         time or, when the laws of any other state govern the method or manner
         of the perfection or enforcement of any security interest in any of the
         Collateral, the Uniform Commercial Code (or any successor statute) of
         such state as in effect from time to time.

                  b.       By deleting the definition of "Performance Pricing
         Determination Date" and by substituting the following in lieu of the
         definition of "Termination Date":

                                      - 4 -
<PAGE>
                  "Termination Date" means whichever is the earlier to occur of
         (i) the last day of the Stated Term, (ii) the date that the Commitments
         are terminated pursuant to Section 6.01 following the occurrence of an
         Event of Default or (iii) the date that the Borrower terminates the
         Commitments entirely pursuant to Section 2.09.

         c.       By deleting the definitions of "Consolidated Total Debt,"
"Investment," "Material Adverse Effect," "Restructuring Charges" and
"Restructuring Program" and by substituting the following in lieu thereof:

                  "Consolidated Total Debt" means, at any date, without
         duplication, the sum of all Debt of the Borrowers and its Consolidated
         Subsidiaries, excluding Debt arising under clause (vii) of the
         definition of Debt to the extent it arises from commercial letters of
         credit or similar instruments.

                  "Investment" means any investment in any Person, whether by
         means of (i) purchase or acquisition of all or substantially all of the
         assets of such Person (or of a division or line of business of such
         Person), including, without limitation, any Permitted Acquisition, (ii)
         purchase or acquisition of obligations or securities of such Person,
         including, without limitation, any Permitted Acquisition, (iii) capital
         contribution to such Person, (iv) loan or advance to such Person, (v)
         making of a time deposit with such Person, (vi) Guarantee or assumption
         of any obligation of such Person or (vii) by any other means, but
         excluding (x) trade advances in the ordinary course of the Borrower's
         business in accordance with historical practices existing on the
         Closing Date and (y) special extensions or renewals of credit made in
         accordance with the Borrower's credit policies to customers in troubled
         financial condition in order to maximize the Borrower's anticipated
         recovery or to protect a strategic source of supply or market;
         provided, however, Investment shall not include the sale of Receivables
         by the Borrower, Cross Creek or DeSoto to Russell Financial pursuant to
         the Receivables Purchase Agreements.

                  "Material Adverse Effect" means, with respect to any event,
         act, condition, occurrence, cost or expenses of whatever nature
         (including any adverse determination in any litigation, arbitration, or
         governmental investigation or proceeding, but not including any event,
         act, condition, occurrence, cost or expense arising out of or relating
         to (i) the case styled Locke, et al. v. Russell Corporation, et al. or
         (ii) the Restructuring Program or the Restructuring Charges), whether
         singly or in conjunction with any other event or events, act or acts,
         condition or conditions, occurrence, occurrences, costs or expenses,
         whether or not related, that causes a material adverse change in, or a
         material adverse effect upon, any of (a) the financial condition,
         operations, business, properties or prospects of the Borrower and its
         Consolidated Subsidiaries taken as a whole, (b) the rights and remedies
         of Administrative Agent or the Banks against the Borrower under any of
         Loan Documents, or the ability of the Borrower to perform its
         obligations under the Loan Documents to which it is a party, as
         applicable, or (c) the legality, validity or enforceability of any Loan
         Document against the Borrower.

                  "Restructuring Charges" means any and all restructuring,
         relocation and other unusual charges incurred in connection with the
         Restructuring Program in

                                      - 5 -
<PAGE>
         Fiscal Years 1998 through 2001, not exceeding $439,700,000 on a pre-tax
         basis or $222,000,000 on an after-tax basis.

                  "Restructuring Program" means the restructuring program and
         related plans, including the establishment of a dual corporate
         headquarters, publicly announced by the Borrower on July 22, 1998, as
         amended, modified, extended or expanded through the Amendment Date.

         d.       By deleting clause (vii) of the definition of "Debt" and by
substituting "(vii) all obligations of such Person to reimburse any bank or
other Person in respect of amounts paid or to be paid under a letter of credit
or similar instrument (whether drawn or undrawn)" in lieu thereof.

         e.       By deleting all references to "Consolidated Net Interest
Expense" and by substituting "Consolidated Interest Expense" in lieu thereof.

         f.       By adding a new clause (i) at the end of Section 2.03, to read
as follows:

                  (i)      Notwithstanding anything to the contrary contained in
         this Agreement, in no event shall the Borrower be authorized to
         request, nor shall any Bank be required to make, Money Market Loans on
         or after July 25, 2001.

         g.       By deleting from Section 2.07, paragraph (a),
together with clauses (i) and (ii) thereof, and by substituting in lieu thereof
the following:

                  (a)      "Applicable Margin" means, beginning on the Amendment
         Date, (i) for any Base Rate Loan, 1.50% and (ii) for any Euro-Dollar
         Loan or Foreign Currency Loan, 2.00%.

         h.       By deleting paragraph (a) from Section 2.08 in its
entirety and by substituting in lieu thereof the following:

                  (a)      from and after the Amendment Date, the Borrower shall
         pay to the Administrative Agent, for the ratable account of each Bank,
         a facility fee on the aggregate amount of such Bank's Commitment
         (without taking into account the outstanding Loans made by such Bank),
         at a rate equal to 0.50%. Such facility fees shall accrue from and
         including the Amendment Date to (but excluding) the Termination Date
         and shall be payable on each Quarterly Payment Date and on the
         Termination Date.

         i.       By deleting paragraphs (j) and (k) of Section 5.01 in their
entirety and by substituting in lieu thereof the following:

                  (j)      for so long as any amounts are outstanding under the
         Bridge Loan Agreement, weekly cash flow reports in form and substance
         acceptable to Administrative Agent; and

                  (k)      from time to time such additional information
         regarding the financial position or business of the Borrower and its
         Subsidiaries as the Administrative Agent, at the request of any Bank,
         may reasonably request.

                                      - 6 -

<PAGE>
                  j. By deleting Section 5.05 in its entirety and by
         substituting in lieu thereof the following:

                           SECTION 5.05. CONSOLIDATIONS, MERGERS AND SALES OF
                                         ASSETS.

                           The Borrower will not, nor will it permit any
                  Subsidiary to, consolidate or merge with or into, or sell,
                  lease or otherwise transfer all or any substantial part of its
                  assets to, any other Person, or discontinue or eliminate any
                  business line or segment, or liquidate or dissolve, provided
                  that (a) the Borrower may merge with another Person if (i)
                  such Person was organized under the laws of the United States
                  of America or one of its states, (ii) the Borrower is the
                  corporation surviving such merger and (iii) immediately after
                  giving effect to such merger, no Default shall have occurred
                  and be continuing; (b) Domestic Subsidiaries of Borrower may
                  merge with one another, Foreign Subsidiaries of Borrower may
                  merge with one another, and any Subsidiary may merge into its
                  parent; and (c) the foregoing limitation on the sale, lease or
                  other transfer of assets, on the discontinuation or
                  elimination of a business line or segment, and on liquidation
                  and dissolution, shall not prohibit: (1) the Borrower, Cross
                  Creek and DeSoto from selling any or all of their respective
                  Receivables to Russell Financial; Russell Financial from
                  selling or otherwise transferring any of its Receivables on or
                  about the Amendment Date to any of the Borrower, Cross Creek
                  or DeSoto or Russell Financial from reconveying Reconveyed
                  Receivables pursuant to the Receivables Purchase Agreements;
                  (2) the Borrower and its Subsidiaries from granting Liens
                  permitted under Section 5.17 upon their assets, including any
                  Liens that may be granted pursuant to the Bridge Loan
                  Documents; (3) the Borrower or any Subsidiary, during any
                  Fiscal Quarter, from transferring assets (other than the
                  Collateral) or discontinuing or eliminating a business line or
                  segment (in a single transaction or in a series of related
                  transactions), or from liquidating or dissolving a Subsidiary
                  if the aggregate assets to be so transferred or utilized in a
                  business line or segment to be so discontinued or Subsidiary
                  to be liquidated or dissolved, when combined with all other
                  assets transferred, and all other assets utilized in all other
                  business lines or segments discontinued or Subsidiaries to be
                  liquidated or dissolved, during such Fiscal Quarter and the
                  immediately preceding 3 Fiscal Quarters (x) does not
                  constitute more than 10% of Consolidated Total Assets at the
                  end of the most recent Fiscal Year immediately preceding such
                  Fiscal Quarter, and (y) does not contribute more than 10% of
                  Consolidated Operating Profits during the 4 Fiscal Quarters
                  immediately preceding such Fiscal Quarter; or (4) the
                  liquidation or dissolution of any inactive Subsidiary.

                  k. By deleting Section 5.09 in its entirety and by
         substituting in lieu thereof the following:

                     SECTION 5.09. CHANGE IN FISCAL YEAR.

                           The Borrower will not change its Fiscal Year, and
                  will not permit any Consolidated Subsidiary to have a fiscal
                  year other than the Fiscal Year, without the prior written
                  consent of the Required Banks.

                                      - 7 -
<PAGE>
                  l. By deleting Section 5.15 in its entirety and by
         substituting in lieu thereof the following:

                           SECTION 5.15. RESTRICTED PAYMENTS.

                           The Borrower may not declare or make any Restricted
                  Payment (i) if, after giving effect to such Restricted
                  Payment, Default or an Event of Default is in existence or
                  would be created thereby and (ii) unless such Restricted
                  Payment consists of (a) dividends with respect to the Capital
                  Stock of the Borrower for so long as the amount of such
                  dividends during any Fiscal Quarter does not exceed $0.14 per
                  share of the Borrower's issued and outstanding common Capital
                  Stock or (b) payments in the ordinary course of the Borrower's
                  business in connection with an employee stock option, bonus,
                  stock purchase or other benefit plans of the Borrower on
                  account of (1) the repurchase of Borrower's Capital Stock, (2)
                  options, warrants or other rights to acquire shares of the
                  Borrower's Capital Stock, or (3) other awards issued or
                  granted under such plans.

                  m. By deleting Section 5.16 in its entirety and by
         substituting in lieu thereof the following:

                           SECTION 5.16. INVESTMENTS.

                           From and after the Amendment Date, neither the
                  Borrower nor any of its Subsidiaries shall make Investments in
                  any Person except (i) loans or advances to officers, directors
                  and employees (1) for relocation expenses in connection with
                  the Restructuring Program and (2) for other purposes not
                  exceeding $3,000,000 in the aggregate principal amount
                  outstanding at any time, in each case made in the ordinary
                  course of business in accordance with historical practices
                  existing on the Closing Date; (ii) deposits required by
                  government agencies or public utilities (including pertaining
                  to taxes and other similar charges), (iii) Investments in
                  direct obligations of the United States Government or any
                  agency thereof maturing within one year after the date of
                  Investment, (iv) Investments in certificates of deposit issued
                  by a commercial bank whose credit is satisfactory to the
                  Administrative Agent and in certificates of deposit issued by
                  any banking subsidiary of Wachovia Corporation, AmSouth
                  Bancorporation, SunTrust Banks, Inc., SouthTrust Corporation,
                  Regions Financial Corporation, Synovus Financial Corporation,
                  Aliant National Corporation, Comerica Bank, The Chase
                  Manhattan Bank, First Union National Bank or any Person who
                  succeeds to all, or substantially all, of the assets or
                  business of any thereof, (v) Investments in commercial paper
                  rated A1 or the equivalent thereof by S&P or P1 or the
                  equivalent thereof by Moody's and in either case maturing
                  within 270 days after the date of acquisition, (vi)
                  Investments in tender bonds the payment of the principal of
                  and interest on which is fully supported by a letter of credit
                  issued by a United States bank whose long-term certificates of
                  deposit are rated at least AA or the equivalent thereof by S&P
                  and Aa or the equivalent thereof by Moody's, (vii) Investments
                  in variable rate demand bonds maturing or with optional puts
                  within one year or less from the date of acquisition thereof,
                  which, at the time of acquisition by the Borrower or
                  Subsidiary, are rated not lower than A or A-1 by S&P and not
                  lower than A2 or P-1 by Moody's, (viii) intercompany loans to
                  the Borrower, DeSoto and Cross Creek, and

                                      - 8 -
<PAGE>
                  (ix) other Investments made on a cumulative basis since the
                  Closing Date which do not at any time exceed an aggregate
                  amount outstanding of $2,000,000.

                  n. By deleting Section 5.17 in its entirety and by
         substituting in lieu thereof the following:

                           SECTION 5.17. PERMITTED LIENS AND DEBT.

                           The Borrower will not, nor will it permit any
                  Consolidated Subsidiary to, create, assume or suffer to exist
                  any Lien upon any Properties now owned or hereafter acquired
                  by the Borrower or such Subsidiary or incur Debt, except as
                  follows:

                           (a) any Lien or Debt that is in existence on the
                  Amendment Date and that is described on Schedule 5.17 hereof;

                           (b) any Lien existing on any specific fixed asset of
                  any corporation at the time such corporation becomes a
                  Consolidated Subsidiary and not created in contemplation of
                  such event;

                           (c) any Lien on any specific fixed asset securing
                  Debt incurred or assumed for the purpose of financing all or
                  any part of the cost of acquiring, constructing or improving
                  such asset, provided that such Lien attaches to such asset
                  concurrently with or within 6 months after the acquisition,
                  completion, construction or improvement thereof;

                           (d) any Lien on any specific fixed asset of any
                  corporation existing at the time such corporation is merged or
                  consolidated with or into the Borrower or a Consolidated
                  Subsidiary and not created in contemplation of such event;

                           (e) any Lien existing on any specific fixed asset
                  prior to the acquisition thereof by the Borrower or a
                  Consolidated Subsidiary and not created in contemplation of
                  such acquisition;

                           (f) any Lien securing Debt owing by any Subsidiary to
                  the Borrower or to any Wholly Owned Subsidiary;

                           (g) any Lien arising out of the refinancing,
                  extension, renewal or refunding of any Debt secured by any
                  Lien permitted by any of the foregoing paragraphs of this
                  Section, provided that (i) such Debt is not secured by any
                  additional assets, and (ii) the amount of such Debt secured by
                  any such Lien is not increased;

                           (h) any statutory Lien (other than a Lien arising
                  under ERISA or for past due taxes) incidental to the conduct
                  of its business or the ownership of its assets which (i) does
                  not secure Debt, (ii) if such Lien attaches to or otherwise
                  affects any of the Collateral, such Lien is at all times
                  junior in right and priority to the Liens that may be granted
                  in favor of any Bridge Loan Agent under the Bridge Loan
                  Documents, no enforcement or foreclosure proceedings in
                  respect of such

                                      - 9 -
<PAGE>
                  statutory Lien are commenced, and any indebtedness secured by
                  such Lien is not past due or payable (unless such indebtedness
                  is being actively contested in good faith and by appropriate
                  proceedings), and (iii) does not in the aggregate materially
                  detract from the value of its assets or materially impair the
                  use thereof in the operation of its business;

                           (i) any Lien on Margin Stock;

                           (j) any Debt incurred under and any Lien in favor of
                  the Bridge Loan Agent pursuant to the Bridge Loan Documents;

                           (k) any Debt incurred under and any Lien granted to
                  secure Debt outstanding under the Loan Documents, the Note
                  Agreements, the SunTrust Loan Agreement and, to the extent
                  permitted by applicable law, the "Elcatex Guaranty" (as
                  defined on Schedule 5.17) and the "Chase Swaps" (as defined on
                  Schedule 5.17), provided that such Liens are at all times
                  junior in right and priority to the Liens in favor of Bridge
                  Loan Agent with respect to the Collateral and are in all
                  events governed by the terms of an intercreditor agreement
                  duly executed by Bridge Loan Agent and each of the holders of
                  such other Liens;

                           (l) Debt constituting Obligations;

                           (m) Debt of the Borrower to a Consolidated Subsidiary
                  and Debt of a Consolidated Subsidiary to the Borrower or
                  another Consolidated Subsidiary; and

                           (n) Liens granted by the Borrower, Cross Creek and
                  DeSoto to Russell Financial pursuant to the Receivables
                  Purchase Documents.

                  o. By deleting Section 5.18 in its entirety and by
         substituting in lieu thereof the following:

                           SECTION 5.18. RESTRICTIVE AGREEMENTS.

                           The Borrower shall not, nor shall it permit any
                  Subsidiary to, enter into or become a party to any Restrictive
                  Agreement; provided, however, that the foregoing shall not
                  apply to (i) Restrictive Agreements existing on the Amendment
                  Date and identified on Schedule 5.18 (but shall apply to any
                  amendment or modification expanding the scope of any
                  restriction or condition contained in any such Restrictive
                  Agreement), (ii) restrictions or conditions imposed by any
                  Restrictive Agreement evidencing or governing secured Debt
                  that is permitted by this Agreement if such restrictions or
                  conditions apply only to the Properties securing such Debt and
                  (iii) customary provisions in leases and other contracts
                  restricting the assignment thereof.

                  p. By deleting Section 5.21 in its entirety and by
         substituting in lieu thereof the following:

                           SECTION 5.21. MINIMUM CONSOLIDATED TANGIBLE NET
                                         WORTH.

                                     - 10 -
<PAGE>
                           Consolidated Tangible Net Worth will at no time be
                  less than $465,000,000 plus the sum of (i) 50% of the
                  cumulative Reported Net Income of the Borrower and its
                  Consolidated Subsidiaries during any period after the end of
                  any Fiscal Quarter following the Amendment Date (taken as one
                  accounting period), calculated quarterly at the end of each
                  Fiscal Quarter but excluding from such calculations of
                  Reported Net Income for purposes of this clause (i), any
                  Fiscal Quarter in which the Reported Net Income of the
                  Borrower and its Consolidated Subsidiaries is negative, and
                  (ii) 100% of the cumulative Net Proceeds of Capital Stock
                  received during any period after the Amendment Date,
                  calculated quarterly at the end of each Fiscal Quarter.

                  q.       By adding a new Section 5.24, to read as follows:

                           SECTION 5.24. MAXIMUM CONSOLIDATED TOTAL DEBT.

                           The amount of Consolidated Total Debt shall not
                  exceed $650,000,000 at any time from the Amendment Date
                  through September 17, 2001.

                  r. By deleting paragraph (b) Section 6.01 in its entirety and
         by substituting in lieu thereof the following:

                           (b) the Borrower shall fail to observe or perform any
                  covenant contained in Sections 5.01(e), 5.01(i), 5.02(ii),
                  5.03 through 5.06, inclusive, Section 5.15 or Sections 5.20
                  through 5.24, inclusive; or

                  s. By deleting all references to "$10,000,000" in Section 6.01
         and by substituting "$5,000,000" in lieu thereof.

                  t. By placing a semi-colon (;) followed by the word "or" at
         the end of paragraph (l) of Section 6.01 and by adding to Section 6.01
         new paragraphs (m) and (n) , to read as follows:

                           (m) any Event of Default under (and as defined in)
                  the Bridge Loan Agreement shall occur or exist; or

                           (n) the parties hereto shall not have executed, on or
                  before September 17, 2001, an amendment and restatement of
                  this Agreement by which, among other things, Liens shall be
                  granted by the Borrower and each Significant Domestic
                  Subsidiary in substantially all of their assets to secure all
                  Obligations under the this Agreement (which Liens shall, in
                  all events, be subordinate and junior to the Liens, if any, in
                  favor of Bridge Loan Agent with respect to the Collateral).

                  u. By adding Schedules 5.17 and 5.18 hereto as Schedules to
         the Credit Agreement.

         3. ADDITIONAL COVENANTS. To induce Agents and Banks to enter into this
Amendment and to give the waiver set forth in Section 4 of this Amendment,
Russell shall, (i) on or before September 17, 2001, execute and deliver, and
cause each Significant Domestic Subsidiary to execute and deliver, to a
collateral agent designated by the Banks, for the benefit of the Banks, an
unconditional guaranty of payment of the Obligations and such instruments and
agreements as may be requested by Administrative Agent and Banks

                                     - 11 -
<PAGE>
to create and perfect a first priority security interest in and Lien upon all
real and personal assets of the Borrower and each Significant Domestic
Subsidiary (subject to no Liens except Liens permitted under Section 5.17 of the
Credit Agreement), whether tangible or intangible and wherever located (but only
to the extent that such assets are located in the United States), to secure the
payment and performance of the Obligations, and (ii) use its best efforts to
file on or before October 1, 2001, with the United States Securities and
Exchange Commission preliminary proxy materials relating to a special meeting of
shareholders of Russell at which meeting the shareholders of Russell will be
asked to approve actions which, if approved and implemented, would permit
Russell to grant Liens for the benefit of the Debt represented by the Elcatex
Guaranty and the Chase Swaps on the same basis as such Liens are to be granted
with respect to the Debt owing under the Credit Agreement, the Note Agreements
and the SunTrust Agreement, and will thereafter use its best efforts to cause
such special meeting of shareholders to be held, the actions to be presented for
approval by the shareholders at such meeting to be approved and become
effective, and such Liens to be granted, on or before December 31, 2001. The
Borrower's failure to comply with either of the foregoing covenants shall
constitute an Event of Default.

         4. LIMITED WAIVER OF COMPLIANCE WITH SPECIFIED COVENANTS. Borrower has
represented to the Administrative Agent and Banks that Borrower has obtained, or
expects to obtain, from all of the requisite parties under the Note Agreements
and the SunTrust Loan Agreement an agreement to waive compliance with the
covenants set forth in Sections 5.7(a)(3), 5.8, 5.11, 5.12 and 5.13
(collectively the "Specified Covenants") and the provisions in the SunTrust Loan
Agreement incorporating by reference the Specified Covenants, in each case for
the period ending September 17, 2001. Subject to Borrower's receipt of the
foregoing waivers (other than the waivers with respect to the 1992 Note
Agreements), the Administrative Agent and Banks hereby agree, effective as of
June 30, 2001, (i) to waive any Event of Default that may have occurred under
Section 6.01(d) of the Credit Agreement solely on account of any failure of the
Borrower to notify Administrative Agent and Banks of defaults that may have
existed under Section 5.7(a)(3), 5.11 and 5.12 of the Notes Agreements which, in
any event, are being waived on the date hereof by the requisite parties under
the Note Agreements (other than the requisite parties under the 1992 Note
Agreements) and the SunTrust Loan Agreement, (ii) to waive compliance with the
requirements of Section 5.05 for the period ending September 17, 2001, but only
to the extent the failure to comply with such section relates to intercompany
factoring and sales transactions with respects to accounts receivable of the
Borrower and its Subsidiaries, and (iii) to waive compliance with the
requirements of Sections 5.20 and 5.22 with respect to the quarter ending on
June 30, 2001 and the period ending on September 17, 2001.

         5. RATIFICATION AND REAFFIRMATION. The Borrower hereby ratifies and
reaffirms the Obligations, each of the Loan Documents and all of the Borrower's
covenants, duties, indebtedness and liabilities under the Loan Documents.

         6. ACKNOWLEDGMENTS AND STIPULATIONS. Borrower acknowledges and
stipulates that the Credit Agreement and the other Loan Documents executed by
Borrower are legal, valid and binding obligations of Borrower that are
enforceable against Borrower in accordance with the terms thereof; all of the
Obligations outstanding under the Credit Agreement are owing and payable without
defense, offset or counterclaim (and to the extent there exists any such
defense, offset or counterclaim on the date hereof, the same is hereby waived by
Borrower); and the unpaid principal amount of the Loans on and as of the close
of business on July 25, 2001, totaled $227,736,000.

         7. REPRESENTATIONS AND WARRANTIES. Borrower represents and warrants to
Administrative Agent and Banks, to induce Administrative Agent and Banks to
enter into this Amendment, that, after giving effect to the provisions of
Section 4 hereof, no Default or Event of Default exists on the date hereof; the
execution, delivery and performance of this Amendment have been duly authorized
by all requisite corporate

                                     - 12 -
<PAGE>
action on the part of Borrower and this Amendment has been duly executed and
delivered by Borrower; and all of the representations and warranties made by
Borrower in the Credit Agreement are true and correct on and as of the date
hereof.

         8. REFERENCE TO CREDIT AGREEMENT. Upon the effectiveness of this
Amendment, each reference in the Credit Agreement to "this Agreement,"
"hereunder" or words of like import shall mean and be a reference to the Credit
Agreement, as amended by this Amendment.

         9. BREACH OF AMENDMENT. This Amendment shall be part of the Credit
Agreement and a breach of any of any representation, warranty or covenant herein
shall constitute an Event of Default.

         10. CONDITIONS PRECEDENT. The effectiveness of the provisions of
Sections 2 and 4 hereof are contingent upon the Borrower's receipt, from the
requisite parties under the Note Agreements and the SunTrust Loan Agreement, a
waiver of compliance with the Specified Covenants for the period ending
September 17, 2001, all in form and substance satisfactory to the Administrative
Agent.

         11. EXPENSES OF ADMINISTRATIVE AGENT. Borrower agrees to pay, on
demand, all costs and expenses incurred by Administrative Agent in connection
with the preparation, negotiation and execution of this Amendment and any other
Loan Documents and any and all amendments, modifications and supplements
thereto, including, without limitation, the costs and fees of Administrative
Agent's legal counsel and any expenses associated with or incurred in connection
with the drafting of any instrument or agreement referred to herein or
contemplated hereby.

         12. EFFECTIVENESS; GOVERNING LAW. This Amendment shall be effective
upon acceptance by Administrative Agent and Banks in Atlanta, Georgia (notice of
which acceptance is hereby waived by the Borrower), whereupon the same shall be
deemed a contract made in Georgia and shall be governed by and construed in
accordance with the internal laws of the State of Georgia.

         13. SUCCESSORS AND ASSIGNS. This Amendment shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and
assigns.

         14. NO NOVATION, ETC. Except as otherwise expressly provided in this
Amendment, nothing herein shall be deemed to amend or modify any provision of
the Credit Agreement or any of the other Loan Documents, each of which shall
remain in full force and effect. This Amendment is not intended to be, nor shall
it be construed to create, a novation or accord and satisfaction, and the Credit
Agreement as herein modified shall continue in full force and effect.

         15. COUNTERPARTS; TELECOPIED SIGNATURES. This Amendment may be executed
in any number of counterparts and by different parties to this Amendment on
separate counterparts, each of which, when so executed, shall be deemed an
original, but all such counterparts shall constitute one and the same agreement.
Any signature delivered by a party by facsimile transmission shall be deemed to
be an original signature hereto.

         16. FURTHER ASSURANCES. Borrower agrees to take such further actions as
the Administrative Agent shall reasonably request from time to time in
connection herewith to evidence or give effect to the amendments set forth
herein or any of the transactions contemplated hereby.

                                     - 13 -
<PAGE>
         17. SECTION TITLES. Section titles and references used in this
Amendment shall be without substantive meaning or content of any kind whatsoever
and are not a part of the agreements among the parties hereto.

         18. RELEASE OF CLAIMS. TO INDUCE ADMINISTRATIVE AGENT AND BANKS TO
ENTER INTO THIS AMENDMENT, BORROWER HEREBY RELEASES, ACQUITS AND FOREVER
DISCHARGES THE ADMINISTRATIVE AGENT AND EACH BANK, AND ALL OFFICERS, DIRECTORS,
AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS OF THE ADMINISTRATIVE AGENT AND EACH
BANK, FROM ANY AND ALL LIABILITIES, CLAIMS, DEMANDS, ACTIONS OR CAUSES OF ACTION
OF ANY KIND OR NATURE (IF THERE BE ANY), WHETHER ABSOLUTE OR CONTINGENT,
DISPUTED OR UNDISPUTED, AT LAW OR IN EQUITY, OR KNOWN OR UNKNOWN, THAT BORROWER
NOW HAS OR EVER HAD AGAINST THE ADMINISTRATIVE AGENT OR ANY BANK ARISING UNDER
OR IN CONNECTION WITH ANY OF THE LOAN DOCUMENTS. BORROWER REPRESENTS AND
WARRANTS TO ADMINISTRATIVE AGENT AND BANKS THAT BORROWER HAS NOT TRANSFERRED OR
ASSIGNED TO ANY PERSON ANY CLAIM THAT BORROWER EVER HAD OR CLAIMED TO HAVE
AGAINST THE ADMINISTRATIVE AGENT OR ANY BANK.

         19. WAIVER OF JURY TRIAL. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, THE PARTIES HERETO EACH HEREBY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY
ACTION, SUIT, COUNTERCLAIM OR PROCEEDING ARISING OUT OF OR RELATED TO THIS
AMENDMENT.

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed under seal in Atlanta, Georgia, and delivered by their respective
duly authorized officers on the date first written above.

                                    BORROWER:

                                    RUSSELL CORPORATION

                                    By:_________________________________
                                       Name:____________________________
                                       Title:___________________________
                                    3300 Cumberland Boulevard
                                    Suite 800
                                    Atlanta, Georgia 30339
                                    Attention: Chief Financial Officer
                                    Telecopier number: 678-742-8995
                                    Confirmation number: 678-742-8100

                                    RUSSELL EUROPE LIMITED

                                    By:_________________________________
                                       Name:____________________________
                                       Title:___________________________
                                    c/o Russell Corporation
                                    3300 Cumberland Boulevard
                                    Suite 800
                                    Atlanta, Georgia 30339
                                    Attention: Chief Financial Officer
                                    Telecopier number: 678-742-8995
                                    Confirmation number: 678-742-8100

                                    [Signatures continue on the following page]

                                     - 14 -
<PAGE>
                                    ACCEPTED IN ATLANTA, GEORGIA:
                                    ----------------------------

                                    WACHOVIA BANK, N.A.,
                                    AS ADMINISTRATIVE AGENT AND AS A BANK

                                    By: ________________________________
                                           Title:____________________________
                                    Lending Office:
                                    191 Peachtree Street, N.E.
                                    Atlanta, Georgia 30303-1757
                                    Attention: Syndications Group
                                    Telecopier number: 404-332-1394
                                    Confirmation number: 404-332-6971

                                    SUNTRUST BANK,
                                    AS SYNDICATION AGENT AND AS A BANK

                                    By: ________________________________
                                           Title:_______________________
                                    Lending Office:
                                    303 Peachtree Street, Third Floor
                                    Atlanta, Georgia 30303
                                    Attention: David Penter
                                    Telecopier number: 404-575-2594
                                    Confirmation number: 404-588-8658

                                    FIRST UNION NATIONAL BANK,
                                    AS DOCUMENTATION AGENT AND AS A BANK

                                    By:_________________________________
                                          Title:________________________
                                    Lending Office:
                                    301 South College Street
                                    Charlotte, North Carolina 28288
                                    Attention: Gary Burkhart
                                    Telecopier number: 704-383-7999
                                    Confirmation number: 704-374-6613

                   [Signatures continue on the following page]

                                     - 15 -
<PAGE>
                                     AMSOUTH BANK, AS A BANK

                                     By:_________________________________
                                           Title:_____________________________
                                     Lending Office:
                                     1900 Fifth Avenue North
                                     Birmingham, Alabama 35203
                                     Attention:  Edward Hutton
                                     Telecopier number: 205-581-7578
                                     Confirmation number: 205-583-4522

                                     THE CHASE MANHATTAN BANK, AS A BANK

                                     By:_________________________________
                                           Title: _______________________
                                     Lending Office:
                                     1411 Broadway, 5th Floor
                                     New York, New York 10018
                                     Attention: Carrie Tio
                                     Telecopier number: 212-391-2711
                                     Confirmation number: 212-391-7283

                                     ALIANT BANK, AS A BANK

                                     By:_________________________________
                                           Title:________________________
                                     Lending Office:
                                     200 Aliant Parkway
                                     Alexander City, Alabama 35010
                                     Attention: John J. Thomas
                                     Telecopier number: 205-408-2002
                                     Confirmation number: 205-408-2003

                                     COMERICA BANK, AS A BANK

                                     By:_________________________________
                                           Title:________________________
                                     Lending Office:
                                     500 Woodward Avenue
                                     Mail Code 3280
                                     Detroit, Michigan 48226
                                     Attention: Danielle Butler
                                     Telecopier number: 313-222-3330
                                     Confirmation number:  313-222-6122

                                     - 16 -

<PAGE>
                                                                   SCHEDULE 5.17
                              to First Amendment to Credit Agreement - Continued

                            PERMITTED LIENS AND DEBTS

<TABLE>
<CAPTION>

1.       UCC Financing Statements

--------------------------------------------------------------------------------------------------------------------
       DEBTOR           SECURED PARTY       JURISDICTION         FILE NUMBER           FILE DATE          COLLATERAL
--------------------------------------------------------------------------------------------------------------------
   <S>                  <C>                <C>                   <C>                   <C>                <C>
    Cross Creek         Pitney Bowes       North Carolina         001490763             8/11/97            Specified
   Apparel, Inc.           Credit           Secretary of                                                   Equipment
                         Corporation            State
--------------------------------------------------------------------------------------------------------------------
    Cross Creek          Associates        North Carolina        19980038254            6/23/98            Specified
   Apparel, Inc.        Leasing, Inc.       Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
    Cross Creek       Telimagine, Inc.     North Carolina        20000008199            1/24/00            Specified
   Apparel, Inc.                            Secretary of                                                   Equipment
                          Assignee:             State
                           Conseco
                       Finance Vendor
                          Services
                         Corporation

                         Assigned to
                         Wells Fargo
                          Financial
                        Leasing, Inc.
--------------------------------------------------------------------------------------------------------------------
    Cross Creek         Pitney Bowes       North Carolina        20000035920            4/7/00             Specified
      Apparel              Credit           Secretary of                                                   equipment
                         Corporation            State
--------------------------------------------------------------------------------------------------------------------
    Cross Creek            Western         North Carolina        20000123088           12/20/00            Specified
   Apparel, Inc.          Carolina          Secretary of                                                 equipment and
                       Forklift, Inc.           State                                                   all attachments
                          Assignee:                                                                       and parts.
                        The CIT Group
                         / Equipment
                       Financing, Inc.
--------------------------------------------------------------------------------------------------------------------
    Cross Creek          Associates         Surry County,         98-001171             6/24/98            Specified
   Apparel, Inc.        Leasing, Inc.      North Carolina                                                  Equipment
--------------------------------------------------------------------------------------------------------------------
    Cross Creek           Vanguard          Surry County,         00-000893             4/12/00            Specified
      Apparel              Supreme         North Carolina                                                  Equipment
--------------------------------------------------------------------------------------------------------------------
    Cross Creek            Western          Surry County,         00-002495            12/20/00            Specified
   Apparel, Inc.          Carolina         North Carolina                                                  Equipment
                       Forklift, Inc.

                        Assignee: The
                         CIT Group /
                          Equipment
                       Financing, Inc.
--------------------------------------------------------------------------------------------------------------------
</TABLE>

                                     - 17 -
<PAGE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
       Debtor           Secured Party       Jurisdiction         File Number           File Date          Collateral
--------------------------------------------------------------------------------------------------------------------
   <S>                  <C>                <C>                   <C>                   <C>                <C>
      Russell             Thompson           Mississippi          01450813              7/17/00            Specified
   Corporation -      Tractor Co., Inc.     Secretary of                                                   Equipment
   Jerzees Mossy                                State
   Oak Apparel Co
--------------------------------------------------------------------------------------------------------------------
      Russell             Thompson          Mississippi,           00-775               7/5/00             Specified
   Corporation -      Tractor Co. Inc.       Clay County                                                   Equipment
   Jerzees Mossy
   Oak Apparel Co
--------------------------------------------------------------------------------------------------------------------
    Russell Corp        Pitney Bowes           Alabama           B96-37418FS            9/9/96              Leased
                           Credit           Secretary of                                                   Equipment
                         Corporation            State
      Russell             Thompson             Alabama           B96-47316FS           11/12/96            Specified
   Corporation -      Tractor Co., Inc.     Secretary of                                                   Equipment
      DC Mont.                                  State
--------------------------------------------------------------------------------------------------------------------
      Russell             Thompson             Alabama           B96-50308FS            12/2/96            Specified
   Corporation -      Tractor Co., Inc.     Secretary of                                                   Equipment
      DC Mont.                                  State
--------------------------------------------------------------------------------------------------------------------
      Russell          SunTrust Bank,          Alabama           B97-24882FS            6/11/97         Fixtures and
  Corporation and          Atlanta          Secretary of                                                   Equipment
     Industrial                                 State                                                    relating to
    Development                                                                                           industrial
    Board of the                                                                                        revenue bond
  City of Ashland,
      Alabama
--------------------------------------------------------------------------------------------------------------------
      Russell            Caterpillar           Alabama           B99-09151FS            3/3/99              Leased
    Corporation           Financial         Secretary of                                                   Equipment
                          Services              State
                         Corporation
--------------------------------------------------------------------------------------------------------------------
      Russell           First Alabama          Alabama           B99-12512FS            3/23/99     Fixtures, Rights
    Corporation           Bank (now         Secretary of                                                and Revenues
                        Regions Bank)           State                                               relating to bond
--------------------------------------------------------------------------------------------------------------------
      Russell            Caterpillar           Alabama          B1999-25870FS           6/17/99             Leased
    Corporation           Financial         Secretary of                                                   Equipment
                          Services              State
                         Corporation
--------------------------------------------------------------------------------------------------------------------
      Russell          Tubular Textile         Alabama          B1999-32512FS           8/4/99             Specified
    Corporation              LLC            Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell          Tubular Textile         Alabama          B1999-32513FS           8/4/99             Specified
    Corporation              LLC            Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
</TABLE>

                                     - 18 -
<PAGE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
       Debtor           Secured Party       Jurisdiction         File Number           File Date          Collateral
--------------------------------------------------------------------------------------------------------------------
    <S>                 <C>                 <C>                 <C>                    <C>                <C>
      Russell                EMC               Alabama          B1999-41255FS           10/4/99            Specified
    Corporation          Corporation        Secretary of                                                   Equipment
                        Assignee: MLC           State
                         Group, Inc.
                         Assigned to
                          Wachovia
                           Leasing
                         Corporation
--------------------------------------------------------------------------------------------------------------------
    Russell Corp         IBM Credit            Alabama          B2000-00677FS           1/5/00              Leased
                         Corporation        Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Leasing          Alabama          B2000-03091FS           1/20/00             Leased
    Corporation          Corporation        Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell         Schlafhorst Inc.         Alabama          B2000-09605FS           3/7/00             Specified
    Corporation                             Secretary of                                                   Equipment
                                                State
      Russell           Pitney Bowes           Alabama          B2000-09862FS           3/8/00              Leased
    Corporation            Credit           Secretary of                                                   Equipment
                         Corporation            State
--------------------------------------------------------------------------------------------------------------------
    Russell Corp         IBM Credit            Alabama          B2000-13880FS           4/6/00              Leased
                         Corporation        Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell          Computer Sales          Alabama          B2000-14937FS           4/13/00             Leased
    Corporation        International,       Secretary of                                                   Equipment
                            Inc.                State
--------------------------------------------------------------------------------------------------------------------
      Russell          Computer Sales          Alabama          B2000-18412FS           5/8/00              Leased
    Corporation        International,       Secretary of                                                   Equipment
                            Inc.                State
--------------------------------------------------------------------------------------------------------------------
      Russell          Computer Sales          Alabama          B2000-26726FS           6/30/00             Leased
    Corporation        International,       Secretary of                                                   Equipment
                            Inc.                State
--------------------------------------------------------------------------------------------------------------------
      Russell          Computer Sales          Alabama          B2000-28545FS           7/17/00             Leased
    Corporation        International,       Secretary of                                                   Equipment
                            Inc.                State
--------------------------------------------------------------------------------------------------------------------
      Russell          Tubular Textile         Alabama          B2000-33671FS           8/21/00            Specified
    Corporation              LLC            Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
       Debtor           Secured Party       Jurisdiction         File Number           File Date          Collateral
      Russell          Tubular Textile         Alabama          B2000-33672FS           8/21/00            Specified
    Corporation              LLC            Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell          Tubular Textile         Alabama          B2000-33673FS           8/21/00            Specified
    Corporation              LLC            Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------

</TABLE>

                                     - 19 -

<PAGE>

<TABLE>
<CAPTION>

--------------------------------------------------------------------------------------------------------------------
       Debtor           Secured Party       Jurisdiction         File Number           File Date          Collateral
--------------------------------------------------------------------------------------------------------------------
    <S>                <C>                  <C>                 <C>                    <C>                <C>
      Russell          Tubular Textile         Alabama          B2000-33674FS           8/21/00            Specified
    Corporation              LLC            Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell            D & G Dyes,           Alabama          B2000-33854FS           8/22/00        All inventory
    Corporation             Inc.            Secretary of                                              sold to Debtor
                                                State                                                   by Secured
                                                                                                       Party and all
                                                                                                        proceeds and
                                                                                                    products thereof
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Leasing          Alabama          B2000-41151FS          10/17/00             Leased
    Corporation          Corporation        Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Leasing          Alabama          B2000-41152FS          10/17/00             Leased
    Corporation          Corporation        Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Leasing          Alabama          B2000-46919FS           12/4/00             Leased
    Corporation          Corporation        Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Leasing          Alabama          B2000-46921FS           12/4/00             Leased
    Corporation          Corporation        Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Capital          Alabama          B2001-05109FS           2/6/01              Leased
    Corporation           Leasing -         Secretary of                                                   Equipment
                         Technology             State
                           Finance
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Capital          Alabama          B2001-05212FS           2/7/01              Leased
    Corporation           Leasing -         Secretary of                                                   Equipment
                         Technology             State
                           Finance
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Capital          Alabama          B2001-09815FS           3/13/01             Leased
    Corporation            Leasing          Secretary of                                                   Equipment
                         Technology             State
                           Finance
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Capital      Fulton County,       0602001002971           2/13/01            Specified
    Corporation            Leasing             Georgia                                                     Equipment
                         Technology
                           Finance
--------------------------------------------------------------------------------------------------------------------
</TABLE>

                                     - 20 -

<PAGE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
       Debtor           Secured Party       Jurisdiction         File Number           File Date          Collateral
--------------------------------------------------------------------------------------------------------------------
    <S>                <C>                  <C>                 <C>                    <C>                <C>
      Russell           Fleet Capital      Fulton County,       0602001002972           2/13/01            Specified
    Corporation            Leasing             Georgia                                                     Equipment
                         Technology
                           Finance
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Capital      Fulton County,       0602001002973           2/13/01            Specified
    Corporation            Leasing             Georgia                                                     Equipment
                         Technology
                           Finance
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Leasing      Fulton County,       0602000005134           3/20/00            Specified
    Corporation          Corporation           Georgia                                                     Equipment
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Leasing      Fulton County,       0602000005074           3/20/00            Specified
    Corporation          Corporation           Georgia                                                     Equipment
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Leasing      Fulton County,       0602000001044           1/14/00            Specified
    Corporation          Corporation           Georgia                                                     Equipment
--------------------------------------------------------------------------------------------------------------------
      Russell           Fleet Leasing      Fulton County,       0601999020368          10/20/99            Specified
    Corporation          Corporation           Georgia                                                     Equipment
--------------------------------------------------------------------------------------------------------------------
      Russell           Crown Credit          Muscogee           10695004422           10/19/95            Specified
    Corporation            Company         County, Georgia                                                 Equipment
--------------------------------------------------------------------------------------------------------------------
      Russell           Crown Credit          Muscogee           10695004423           10/19/95            Specified
    Corporation            Company         County, Georgia                                                 Equipment
--------------------------------------------------------------------------------------------------------------------
      Russell            Development          Muscogee          106-95-005244          12/22/95           Documents,
    Corporation         Authority of       County, Georgia                                          Goods, Fixtures,
                          Columbus,                                                                        Minerals,
                           Georgia                                                                         Proceeds

                         (Assignee:                                                                     Continued on
                        Synovus Trust                                                                  12/15/00 with
                          Company)                                                                      continuation
                                                                                                      #106-00-003549
--------------------------------------------------------------------------------------------------------------------
      Russell            Macpherson           Muscogee          106-96-001012           3/8/96       This filing was
    Corporation         Meistergram,       County, Georgia                                             terminated on
                            Inc.                                                                        4/24/96 with
                                                                                                       filing number
                                                                                                       106-96-001656
--------------------------------------------------------------------------------------------------------------------
     The Russell       First American         Tennessee           961549999            11/27/96            Specified
    Corporation         National Bank       Secretary of                                                   Equipment
                                                State
--------------------------------------------------------------------------------------------------------------------
      Russell          First American         Tennessee           982009178             1/29/98            Specified
    Corporation         National Bank       Secretary of                                                   Equipment
       d/b/a                                    State
    Hubert Hodge
    Printing Co.
--------------------------------------------------------------------------------------------------------------------
    The Russell            Imation            Tennessee           972064841             8/19/97             Leased
    Corporation           Financing         Secretary of                                                   Equipment
                          Services              State
--------------------------------------------------------------------------------------------------------------------
<CAPTION>

         2.       Debt under Capital Leases and related Liens securing Debt of Borrower or Subsidiary

         <S>                                                           <C>
         Industrial Development Board of Geneva, AL                    $2,575,000
         Industrial Development Board of Columbia, AL                  $2,575,000
         Industrial Development Board of Ashland, AL                   $1,800,000
</TABLE>

                                     - 21 -

<PAGE>

         3. Debt under Guarantee Agreement by the Borrower to SunTrust Bank of
loans by SunTrust to Elasticos Centroamericanos Textiles, S.A. de C.V. and
related ISDA Master Agreement pertaining to the related interest rate swap (the
"Elcatex Guaranty")

         4. Guaranty of Subsidiary obligations to Bank of Scotland (the "Bank of
Scotland Guaranty")

         5. Debt under certain foreign exchange forward rate agreements between
the Borrower and The Chase Manhattan Bank to hedge purchases of materials and
sales of products denominated in foreign currencies through September 30, 2002,
which will be documented with ISDA master agreements (the "Chase Swaps").

         6.       The Receivables Purchase Agreements.

                                     - 22 -
<PAGE>
                                                                   SCHEDULE 5.18
                                          to First Amendment to Credit Agreement

                             RESTRICTIVE AGREEMENTS

1.       Bridge Loan Documents

2.       The Loan Documents

3.       The SunTrust Loan Agreement

4.       The Note Agreements

5.       Documents relating to the Elcatex Guaranty

6.       Documents relating to the Bank of Scotland Guaranty

7.       The Receivables Purchase Agreements

                                     - 23 -

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