September 19, 2006

Financial · Leadership

Gildan to Present at Upcoming Institutional Investor Conferences

Montréal, Tuesday, September 19, 2006 – Gildan Activewear Inc. (GIL; TSX and NYSE) announced that Glenn J. Chamandy, President and CEO, and Laurence G. Sellyn, Executive Vice President, Chief Financial and Administrative Officer, will present an overview of the Company’s business plans and financial objectives at the Scotia Capital Tenth Annual Back to School Conference in Toronto, on Wednesday, September 20, 2006 at 11:00 a.m. EDT. Mr. Chamandy and Mr. Sellyn will also be participating in the 2006 RBC Capital Markets Consumer Conference in Orlando, on Thursday September 28 starting at 9:05 a.m. EDT, and will be presenting at the CIBC Fifth Annual Institutional Investor Conference in Montréal, on Thursday, October 5 at 9:10 a.m. EDT.

The Company also noted that it will initiate earnings guidance for fiscal 2007, following the approval of its fiscal 2007 budget by its Board of Directors at a meeting scheduled to be held on September 26, 2006. A press release to communicate the Company’s fiscal 2007 guidance will be issued on September 27, 2006 before market open. Gildan’s presentations at the Scotia Capital and the CIBC conferences will be simulcast online and will be available on the Company’s web site, http://gildan.com/corporate/IR/webcastPresentations.cfm or at the following URLs: http://www4.insinc.com/scotia/20060919/preflight.html, for the Scotia Capital conference, and http://events.startcast.com/events/118/B0006/index.asp?part=3 for the CIBC Fifth Annual Institutional Investor Conference. The RBC Capital Markets Consumer Conference will adopt a format of interactive discussions with groups of institutional investors rather than formal presentations. RBC Capital Markets has determined that these discussions will not be simulcast online. A replay of the webcasts will be available about three hours after the conclusion of the live presentations and will be available for the next 30 days, at the locations listed above.

Profile

Gildan is a vertically-integrated marketer and manufacturer of quality branded basic apparel. The Company is the leading supplier of activewear for the wholesale imprinted sportswear market in the U.S. and Canada, and also a leading supplier to this market in Europe. The Company sells T-shirts, sport shirts and sweatshirts in large quantities to wholesale distributors as undecorated “blanks”, which are subsequently decorated by screenprinters with designs and logos. Consumers ultimately purchase the Company’s products, with the Gildan label, in venues such as sports, entertainment and corporate events, and travel and tourism destinations. Other end-uses include work uniforms and similar applications to convey individual, group and team identity. In addition to continuing its growth within the wholesale channel, Gildan is implementing a major new growth initiative to sell athletic socks, underwear and activewear to mass-market retailers in North America.

Investor inquiries :

Sophie Argiriou

Vice president, Investor Communications

(514) 343-8815

Media inquiries :

Geneviève Gosselin

Director, Global Communications and Corporate Marketing

(514) 343-8814