October 16, 2007

Financial · Leadership

Gildan to Present at Wachovia Investor Conference

Montréal, Tuesday, October 16, 2007 – Gildan Activewear Inc. (GIL; TSX and NYSE) announced that 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 annual Wachovia Consumer Growth Conference in New York. Gildan is scheduled to make its presentation on Wednesday, October 17, 2007 at 1:30 p.m. EDT.

Gildan’s presentation at the Wachovia conference 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 URL: http://www.wsw.com/webcast/wa46/gildan. A replay of the webcast will be available about three hours after the conclusion of the live presentation 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 fleece 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