PROVIDENCE, RI, April16, 1998-Nortek, Inc. (NYSE:NTK) today announced that it has filed a registration statement with the Securities an Exchange Commission with respect to a proposed public offering of 2,000,000 shares of its common stock. The offering will be managed by Bear, Stearns & Co. Inc., Paine Webber Incorporated and Wasserstein Perella Securities, Inc. The Company expects to grant the managing underwriters an option to purchase an additional 300,000 shares to cover any over-allotments.

The Company intends to use the net proceeds of the offering to partially fund the proposed acquisition of NuTone Inc., an indirectly wholly-owned subsidiary of Williams plc. The acquisition of NuTone is subject to expiration or termination of the applicable waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976, as amended, and the Federal Trade Commission has issued a second request relating to the acquisition. In the event that the acquisition of NuTone is not consummated, the Company intends to use the net proceeds of the offering for general corporate purposes, including working capital requirements, capital additions, other acquisitions and possible reduction of indebtedness.

A registration statement related to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may any offer to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State in which an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such State.


This release contains forward-looking statements relating to future financial results. Actual financial performance may differ as a result of factors over which the Company has no control. Additional information which could affect the company's financial results is included in the Company's Securities and Exchange Commission filings, copies of which are available from Nortek at no charge.

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