Nortek Acquires Webco, Inc.

PROVIDENCE, RI, March 8, 1999—Nortek, Inc. (NYSE:NTK) announced today it has acquired Webco, Inc., of Springfield, Missouri, a leading designer and manufacturer of custom air handling equipment for industrial, institutional and commercial customers. Founded in 1977, Webco is privately held. The company has approximately 100 employees and for 1998 it reported sales of approximately $14.0 million. Terms of the acquisition were not disclosed.

Richard L. Bready, Nortek’s Chairman and Chief Executive Officer, stated, “Webco represents an exceptional strategic acquisition opportunity for our Air Conditioning and Heating Products Group. This company designs and builds equipment ranging from small ventilation units to large custom compressorized systems. Webco’s products and their designing and custom manufacturing capabilities dovetail with our TemtrolÒ, GovernairÒ, MammothÒ and VentrolÒ lines.”

Webco’s products include air handling units with hydronic (hot water or steam coil) or gas heating, packaged refrigeration systems and energy recovery units. The company has shipped and installed its products throughout the U.S. It presently markets its products and services through independent sales representatives located in major cities.

Nortek is a leading international manufacturer and distributor of high-quality, competitively priced building, remodeling and indoor environmental control products for the residential and commercial markets. The Company offers a broad array of products for improving the environments where people live and work. Its products include range hoods and other spot ventilation products, heating and air conditioning systems, wood and vinyl windows and doors, vinyl siding products, indoor air quality systems, and specialty electronic products.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “anticipates,” “intends,” “plans,” “estimates,” or similar expressions are intended to identify these forward-looking statements. These statements are based on the Company’s current plans and expectations and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual future activities and results to differ include the availability and cost of certain raw materials (including among others steel, copper, packaging materials, plastic, resins, glass, wood and aluminum) and purchased components, the level of domestic and foreign construction and remodeling activity affecting residential and commercial markets, interest rates, employment, inflation, Y2K readiness, currency translation, consumer spending levels, operating in international economies, the rate of sales growth, price and product liability claims. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. For further information, please refer to the Company’s reports and filings with the Securities and Exchange Commission.