PROVIDENCE, RI, July 2, 1998-Nortek, Inc.(NYSE:NTK) announced today that its Ply Gem subsidiary has sold the capital stock of the Goldenberg Group, Inc. ("Goldenberg") to Genesee Group Companies, Inc.

Based in Lynwood, California, Goldenberg manufactures and distributes furniture components, laminated board and engineered wood products, hardwood and softwood plywoods for sale to furniture manufacturers and other OEMs, building materials retailers and wholesalers. Goldenberg had sales of approximately $41.4 million in 1997.

Richard L. Bready, Chairman and Chief Executive Officer, stated that "the sale of Goldenberg is part of our continuing rationalization of the Ply Gem operations and is in keeping with our strategy of disposing of businesses that do not fit Nortek's long-term strategic objectives."

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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