NORTEK COMPLETES ACQUISITION OF NUTONE INC.
CLOSES SENIOR NOTE OFFERING

PROVIDENCE, RI, July 31, 1998--Nortek, Inc.(NYSE:NTK) announced today that it has completed its acquisition of NuTone Inc., a wholly owned subsidiary of Williams plc, for $242.5 million cash.

NuTone is a leading U.S. manufacturer and supplier of built-in home products for use in residential construction and remodeling. Based in Cincinnati, it sells primarily to the North American market, operating in Canada through its wholly owned subsidiary, NuTone Canada, Inc. NuTone's product range includes exhaust fans, range hoods, door chimes, intercoms, central vacuum cleaners and bathroom cabinets and accessories.

For the year ended December 31, 1997, NuTone had sales of approximately $199.1 million and EBITDA of approximately $28.2 million.

Richard L. Bready, Nortek's Chairman and Chief Executive Officer, said that "we are pleased and excited about the acquisition of NuTone and its addition to our growing portfolio of brand-names. NuTone's strong consumer brand recognition, reputation for quality products, and established distribution channels complement our Broan, Rangaire and Venmar product lines and marketing capabilities."

Nortek also announced today that it has closed a private offering of $210.0 million principal amount of 8 7/8 percent Senior Notes due August 1, 2008 at a price of 99.641 percent of face value. The Senior Notes were issued and sold in a Rule 144A private offering to institutional investors. Nortek has used the net proceeds from the transaction, together with some of its available cash, to complete the purchase of NuTone.

The Senior Notes have not been registered under the Securities Act of 1933, as amended, or under the securities law of any state and may not be offered or sold in the United States or in any such state absent an applicable exemption from registration under the Securities Act and any such law. "We were extremely pleased with the response to the Senior Note offering and believe it represented an attractive source of funding for the NuTone acquisition," Bready said.

Terms of 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 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.

# # #