PROVIDENCE, RI, May 14, 1998-At the annual stockholder meeting of Nortek, Inc.(NYSE:NTK) today, Richard L. Bready, Chairman, President and Chief Executive Officer, told fellow stockholders the company has "solidly joined the ranks of the multi-billion dollar class of companies serving the world economy." With the completion of the Ply Gem acquisition in August of 1997 and the anticipated completion of the proposed acquisition of NuTone during the summer of 1998, Nortek, would have had pro forma sales of $1.85 billion for 1997. "We would have effectively doubled the size of Nortek," Mr. Bready added.

On Tuesday, Nortek announced the public offering of 2,000,000 shares of common stock at $31.50 per share. Mr. Bready told stockholders that proceeds from the sale will be used to partially finance the acquisition of NuTone Inc., the consummation of which is subject to completion of the Federal Trade Commission review. In the event that the acquisition is not consummated, the Company intends to use the proceeds of the offering for general corporate purposes, including working capital requirements, capital additions, other acquisitions and possible reduction of indebtedness. "We are excited about the prospects of acquiring NuTone," Mr. Bready went on to say. "Its strong brand recognition and reputation for quality, and its established distribution channels with home builders and remodelers complement our own product lines and marketing capabilities."

During the regular business portion of the annual meeting, Mr. Bready and Phillip L. Cohen were re-elected to three-year terms on Nortek's Board.

Stockholders also approved Nortek's 1998 Equity and Cash Incentive Plan. Mr. Bready indicated that this plan provides stock and cash incentives that align management with the interests of shareholders. Nortek is a leading international manufacturer and distributor of high-quality, competitively priced building, remodeling and indoor environmental control products for the residential, commercial and industrial markets. The Company offers a broad array of products for improving the environments where people live and work. Its products include range hoods and spot ventilation products, heating and air conditioning systems, wood and vinyl windows and doors, vinyl siding products, air quality systems, and specialty electronic, wood and decorating products.


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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