PROVIDENCE, RI, July 13, 1998--Nortek, Inc.(NYSE:NTK) announced today that it has completed the sale of its plumbing products operations, Universal-Rundle Corporation, to Crane Plumbing of Evanston, Illinois.

Nortek, with pro forma net sales of approximately $1.7 billion in 1997, had classified its plumbing products business, the Company's smallest group, as a discontinued operation earlier this year after determining that it did not "fit Nortek's long-term strategic business mix."

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.

Richard L. Bready, Chairman and Chief Executive Officer, stated, "The sale of the Plumbing Products Group represents a significant step forward in the execution of our corporate strategy to divest those businesses that do not fit our business model."

Terns of the sale were not disclosed.

Nortek has also recently announced the sale of the businesses of Studley Products, Inc., Sagebrush Sales, Inc., and Goldenberg Group, Inc.; businesses that were acquired last year as part of Nortek's purchase of Ply Gem Industries, Inc. and that were similarly targeted for disposition. "Nortek continues to focus on building its leadership positions in some of the fastest growing segments of the building products market, increasing its penetration of the less cyclical home remodeling market, and leveraging its distribution channels," Mr. Bready added. "Universal-Rundle, Studley, Sagebrush and Goldenberg were all determined to be non-core businesses. These sales enable Nortek to re-deploy its resources and help to strategically position the Company for the future."

Going forward, Nortek businesses will be concentrated in three core operating groups: Residential Building Products, Air Conditioning and Heating Products, and Windows, Doors and Siding Products. "Our goal is the continued growth of these three core business groups," Bready said.

Nortek is a leading international manufacturer and distributor of high-quality, competitively priced building, remodeling and environmental control products for the residential, commercial and industrial markets. The Company offers a broad array of products for improving where people live and work, including range hoods and home ventilating products, heating and air conditioning systems, windows, doors and 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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