PROPOSED OFFERING OF SENIOR DISCOUNT NOTES

PROVIDENCE, RI, November 17, 2003 - Nortek Holdings, Inc. ("Nortek Holdings"), the parent company of Nortek, Inc. ("Nortek"), today announced plans to conduct an offering of Senior Discount Notes due 2011 (the "Notes") expected to generate gross proceeds of approximately $350 million. The Notes, which are structurally subordinate to all debt and liabilities of its subsidiary Nortek, are expected to be issued and sold in a private Rule 144A offering to institutional investors.

The net proceeds of the offering will be used to pay a distribution to Nortek Holdings equity holders.

Nortek* is a leading international manufacturer and distributor of high-quality, competitively priced building, remodeling and indoor environmental control products for the residential and commercial markets. Nortek offers a broad array of products for improving the environments where people live and work. Its products include: range - hoods and other spot ventilation products; heating and air conditioning systems; vinyl products, including windows and doors, siding, decking, fencing and accessories; indoor air quality systems; and specialty electronic products.

The offering of the Notes will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent such registration or an applicable exemption from the registration requirements of such Act.

*As used herein, the term "Nortek" refers to Nortek, Inc., together with its subsidiaries, unless the context indicates otherwise. This term is used for convenience only and is not intended as a precise description of any of the separate corporations, each of which manages its own affairs.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company's current plans and expectations and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors impacting such forward-looking statements include the availability and cost of raw materials and purchased components, the level of construction and remodeling activity, changes in general economic conditions, the rate of sales growth, and product liability claims. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. For further information, please refer to the reports and filings of the Company with the Securities and Exchange Commission.

 

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