Providence, RI, June 23, 1998 -- Nortek, Inc.(NYSE:NTK) announced today that it had reached an agreement in principle to sell its plumbing products business, Universal-Rundle Corporation, to Crane Plumbing of Evanston, Illinois.

Universal-Rundle, headquartered in New Castle, Pennsylvania; has manufacturing facilities in Monroe and Union Point, Georgia; Hondo and Grand Prairie, Texas; Ottumwa, iowa; and Chicago, Illinois, as well as New Castle. It had sales of approximately $104.5 million for 1997. The acquisition by Crane is subject to the filing requirements of the Hart Scott Rodino Act, which filing has been submitted, and the completion of final due diligence reviews and the execution of definitive agreements.

Richard L. Bready, Chairman and Chief Executive Officer, stated that "the agreement for the sale of the Plumbing Products Group follows our announcement, in Febuary of this year, that we had classified the operations of the Plumbing Products Group as a discontinued operation in anticipation of its disposition."

Terms of the sale were not disclosed.

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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