PROVIDENCE, RI, November 2, 1999, Nortek, Inc. (NYSE: NTK), today announced that third-quarter 1999 diluted per-share earnings from continuing operations increased 53 percent to $1.70 from $1.11 in 1998.

Richard L. Bready, Nortek Chairman and Chief Executive Officer, said, “Financial results for the third quarter reflect strong growth compared to last year, powered by substantial sales and earnings growth at all three operating groups. Nortek was able to achieve these solid results through the expansion of its existing businesses, the integration of recent strategic acquisitions, and a continuing emphasis on reducing manufacturing costs. Nortek maintains a number of leading market share positions in the growing building products industry.”

Third-quarter financial highlights included:

• Net sales of $553 million, a 21-percent increase from $458 million reported for the third quarter of 1998. The third quarter of 1999 includes $106 million of sales from recently acquired businesses; the third quarter of 1998 included $36 million of sales from businesses subsequently sold.
• Operating earnings of $59 million, a 33-percent increase from last year’s $44 million. As a percent of sales, operating earnings rose to 11 percent compared to 10 percent last year.
• EBITDA of $72 million, a 31-percent increase from $55 million for the prior year. As a percent of sales EBITDA was 13 percent compared to last year’s 12 percent.
• After-tax earnings from continuing operations of $21 million, a 55-percent increase over last year’s $13 million.
• Diluted per-share earnings for the third quarter of 1999 and the third quarter of 1998 are after amortization of goodwill and other intangible assets of $.38 per share and $.30 per share, respectively.

Mr. Bready stated that "the just completed second and third quarters represent the two strongest quarters in the history of Nortek."

Net sales of the Residential Building Products Group for the quarter increased by $32 million, or 24 percent, of which $19 million was from acquisitions. The integration of NuTone with the Broan companies continues on track, exceeding the strategic expansion benefits and costs savings originally anticipated.

The Air Conditioning and Heating Products Group’s net sales increased by $22 million, or 18 percent, of which $3 million was from acquisitions. Earnings were strong at both the commercial and residential businesses. Recently, our manufactured housing portion of the HVAC business has felt the impact of the slowdown in the manufactured housing industry. To date, this slowing has been offset by increased site-built residential air conditioning and heating product sales. It is anticipated that the weakness in the manufactured housing arena will continue over the next several quarters. Our after-market sales of air conditioning units to the manufactured housing customers will improve as that industry sector takes steps to reduce its retail inventories of homes.

The Windows, Doors and Siding Group’s net sales increased $76 million or 51 percent, of which $84 million was from acquisitions. Base revenues, without acquisitions, decreased $8 million, as SNE moved a significant portion of its vinyl operations from Mosinee, Wisconsin to Huntington, West Virginia and closely controlled its sales as it continued the implementation of improved operating systems and cost-control measures.

The assimilation of the recently acquired Peachtree Doors and Windows, Thermal-Gard and CWD Windows has been slower than expected with a resulting smaller contribution to earnings in the third quarter. In addition, the operating earnings of the Windows, Doors and Siding Group were impacted by the rising price of vinyl resin due to higher oil prices. Recent price increases implemented in our vinyl products should mitigate this situation. Ongoing, as a result of the recent acquisitions, the performance of this group will be more seasonal than in prior years due to the number of our businesses that are affected by winter conditions across the northern U.S. and Canada.

For the first nine months of 1999, diluted per share earnings from continuing operations increased 71 percent to $3.65 from $2.13 a year earlier—an increase achieved with 1,169,000 more diluted shares outstanding. Operating earnings increased 49 percent to $145 million and EBITDA increased 44 percent to $185 million. After-tax earnings from continuing operations increased 90 percent to $44 million from $23 million for the first nine months of 1998.

Net sales for the first nine months of $1.5 billion were 16 percent higher than the $1.3 billion reported last year. The first nine months of 1999 included $301 million of sales from recently acquired businesses; the first nine months of 1998 included $169 million of sales from businesses subsequently sold.

Diluted earnings per share for the first nine months of 1999 and 1998 are after amortization of acquired goodwill and intangible assets of $1.12 per share and $.86 per share, respectively. Per-share results reflect the Company’s 2.2-million-share equity offering completed in May 1998.

Also, on September 9, 1999, Nortek acquired Kroy Building Products, Inc., a leading manufacturer of vinyl fencing, railing profiles, and vinyl decking systems for residential and light commercial applications.

The recent slowdown in the manufactured housing sector, the recent increases in the cost of vinyl resin and the increasing seasonal nature of the Windows, Doors and Siding Group indicates that the fourth quarter of 1999 will not equal the fourth quarter of 1998, although the full year 1999 will substantially exceed the 1998 performance.

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.

*As used herein, the term "Nortek" refers to Nortek, Inc., together with its subsidiaries, unless the context indicates otherwise. This term is used for convenience only and is not intended as a precise description of any of the separate corporations, each of which manages its own affairs.

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.

NORTEK, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED SUMMARY OF OPERATIONS
(In Thousands except per share amounts)
	Three Months Ended				Nine Months Ended
	Oct. 2,		Oct. 3,		Oct. 2,		Oct. 3,
	1999		1998		1999		1998
	(unaudited)
Net sales.......................................................	$553,493		$ 458,193		$1,504,281		$1,300,308
Cost of sales..................................................	396,014		331,192		1,077,901		959,018
Selling, general and administrative expenses.....	93,323		78,723		266,548		234,222
Amortization of goodwill and intangible assets	5,074		3,991		14,913		9,934
	494,411		413,906		1,359,362		1,203,174
Operating earnings.........................................	59,082		44,287		144,919		97,134
Interest expense.............................................	(24,225)		(22,928)		(72,564)		(62,126)
Investment income.........................................	1,643		3,141		6,145		7,492
Earnings from continuing operations
before provision for income taxes	36,500		24,500		78,500		42,500
Provision for income taxes..............................	15,900		11,200		34,600		19,400
Earnings from continuing operations before
extraordinary loss	20,600		13,300		43,900		23,100
Earnings from discontinued operations	---		600		---		600
Extraordinary loss from debt retirements	---		(100)		---		(100)
Net earnings..................................................	$20,600		$13,800		$43,900		$23,600
Net earnings (loss) per share of common stock:
Earnings from continuing operations
Basic...................................................	$1.74		$1.13		$3.72		$2.17
Diluted.................................................	$1.70		$1.11		$3.65		$2.13
Earnings from discontinued operations
Basic...................................................	$---		$.05		$---		$.05
Diluted.................................................	$---		$.05		$---		$.05
Extraordinary loss from debt retirements
Basic...................................................	$---		$(.01)		$---		$(.01)
Diluted.................................................	$---		$(.01)		$---		$(.01)
Net Earnings
Basic...................................................	$1.74		$1.17		$3.72		$2.21
Diluted.................................................	$1.70		$1.15		$3.65		$2.17
Weighted average number of shares:
Basic...................................................	11,808		11,721		11,802		10,660
Diluted.................................................	12,104		11,951		12,027		10,858
EBITDA.......................................................	$72,403		$55,454		$185,052		$128,177
Capital Expenditures	$9,051		$8,678		$34,400		$24,185

The accompanying notes are an integral part of this unaudited condensed consolidated summary of operations.

A. The unaudited condensed consolidated summary of operations for Nortek, Inc. and its subsidiaries (the "Company"), in the opinion of management, reflects all adjustments necessary for a fair statement of the periods presented. It is suggested that this unaudited condensed consolidated summary of operations be read in conjunction with the financial statements and the notes included in the Company's latest Annual Report on form 10-K, and its latest Quarterly Report on form 10-Q as filed with the Securities and Exchange Commission.

B. EBITDA from continuing operations is operating earnings plus depreciation and amortization expense (other than amortization of deferred debt expense and debt discount).

C. On July 31, 1998, the Company, through a wholly-owned subsidiary, purchased all of the issued and outstanding capital stock of NuTone Inc. ("NuTone"), a wholly owned subsidiary of Williams plc ("Williams") for an aggregate purchase price of $242,500,000 in cash plus approximately $5,500,000 in expenses and fees. The purchase price was funded through the use of the net proceeds from the sale of $210,000,000 principal amount of 8 7/8% Senior Notes due August 1, 2008 (the "8 7/8% Notes") at a slight discount, which occurred on July 31, 1998, together with approximately $44,800,000 of the cash proceeds received from the Common Stock Offering as defined below.

D. The following presents the approximate unaudited Pro Forma net sales, depreciation and amortization expense (other than amortization of deferred debt expense and debt discount), operating earnings, earnings from continuing operations and diluted earnings from continuing operations per share of the Company for the three and nine months ended October 3, 1998 and the year ended December 31, 1998 which gives pro forma effect to the sale of 2,182,500 shares of the Company's common stock in the second quarter of 1998 (the "Common Stock Offering"), the sale of the 8 7/8% Notes and the acquisition of NuTone on July 31, 1998, and reflects the estimated cost reductions directly attributable to the NuTone acquisition as described below as if such transactions had occurred on January 1, 1998. The Pro Forma results for the year ended December 31, 1998 below include the actual results of NuTone since July 31, 1998 in accordance with the purchase method of accounting for an acquisition. Pro Forma operating results do not give pro forma effect to dispositions of businesses that occurred in 1998, the acquisition of Napco, Inc. which occurred on October 9, 1998 and acquisitions in 1999.

		Three Months Ended Oct. 3, 1998	Nine Months Ended Oct. 3, 1998	Year Ended December 31, 1998
		(In thousands except per share amounts)
Pro Forma
Net sales................................................		$473,600	$1,411,000	$1,849,000
Depreciation and amortization
expense..................................................		11,900	36,200	47,400
Operating earnings..................................		45,800	106,600	142,500
Earnings from continuing operations.........		12,900	21,400	31,400
Diluted earnings from continuing operations per share...............................		$1.08	$1.80	$2.63

At the date of the NuTone acquisition, the Company achieved cost reductions directly attributable to the acquisition from the elimination of fees and charges paid by NuTone to Williams and related entities. The unaudited Pro Forma operating earnings have been increased by approximately $354,000 for the nine months ended October 3, 1998 and the year ended December 31, 1998, and decreased by approximately $30,000 for the three months ended October 3, 1998 to reflect the elimination of such fees. Subsequent to the NuTone acquisition, the Company expects to realize approximately $15,000,000 in unaudited estimated annual cost reductions (“NuTone Cost Reductions”) that can be achieved as a result of integrating NuTone into the Company’s operations. Pro Forma earnings have not been increased for the NuTone Cost Reductions for the periods presented, except for NuTone Cost Reductions actually achieved since the date of acquisition. The NuTone Cost Reductions are estimates and actual savings achieved could differ materially. In computing the Pro Forma earnings, earnings have been reduced by the net interest income on the aggregate cash portion of the purchase price of the NuTone acquisition at the historical rate earned by the Company and interest expense on indebtedness incurred in connection with the acquisition of NuTone. Earnings have also been reduced by amortization of goodwill and intangible assets and reflect net adjustments to depreciation expense as a result of an increase in the estimated fair market value of property and equipment and changes in depreciable lives. Interest expense was included on the 8 7/8% Notes at the applicable coupon rate plus amortization of deferred debt expense and debt discount, net of tax effect. The Pro Forma information presented does not purport to be indicative of the results which would have been reported if these transactions had occurred on January 1, 1998, or which may be reported in the future.

E. Net sales for the Company's principal segments for the three months and the nine months ended October 2, 1999 and October 3, 1998 were as follows:

	Three Months Ended		NineMonthsEnded
	Oct. 2, 1999	Oct. 3,1998	Oct. 2,1999	Oct. 3, 1998
		(In millions)
Residential Building Products.................	$162.4	$130.7	$477.8	$331.9
Air Conditioning and Heating Products	144.2	122.0	417.9	356.6
Windows, Doors and Siding..................	226.3	150.3	549.3	390.7
Other....................................................	20.6	19.5	59.3	52.6
Businesses Sold....................................	---	35.7	---	168.5
Total..................................................	$553.5	$458.2	$1,504.3	$1,300.3

In the third quarter and first nine months of 1999, acquisitions contributed approximately, $106.2 million and $300.5 million to the increase in net sales, respectively, of which approximately, $18.9 million and $121.5 million, respectively, were in the Residential Building Products Segment, approximately, $2.8 million and $8.1 million, respectively, were in the Air Conditioning and Heating Products Segment and approximately, $84.5 million and $170.9 million, respectively, were in the Windows, Doors and Siding Segment.

Operating earnings and depreciation and amortization expense for the Company's principal segments for the three months and the nine months ended October 2, 1999 and October 3, 1998 were as follows:

		Three Months Ended		Nine Months Ended
		Oct. 2, 1999	Oct. 3,1998	Oct. 2,  1999	Oct. 3, 1998
			(In millions)
Operating Earnings:
Residential Building Products		$27.3	$16.3	$69.9	$37.0
Air Conditioning and Heating Products		19.3	16.3	50.5	43.5
Windows, Doors and Siding		17.7	14.5	38.9	22.5
Other, Net		(5.3)	(3.6)	(14.4)	(11.3)
		59.0	43.5	144.9	91.7
Businesses Sold		---	.8	---	5.4
Consolidated Operating Earnings		59.0	44.3	144.9	97.1
Unallocated:
	Interest Expense	(24.2)	(22.9)	(72.5)	(62.1)
	Interest Income	1.7	3.1	6.1	7.5
Earnings before Provision for Income Taxes		$36.5	$24.5	$78.5	$42.5
Depreciation and Amortization Expense:
Residential Building Products		$4.7	$4.2	$14.7	$9.6
Air Conditioning and Heating Products		2.7	2.2	7.9	6.7
Windows, Doors and Siding		5.6	4.2	16.2	12.3
Other		.3	.3	1.3	1.0
		13.3	10.9	40.1	29.6
Businesses Sold		---	.3	---	1.4
Consolidated Depreciation and Amortization Expense		$13.3	$11.2	$40.1	$31.0

F. The following is a summary of selected balance sheet account balances at October 2, 1999 and December 31, 1998:

		Balance at
		October 2,1999	December 31, 1998
		(000’s omitted)
Unrestricted cash, equivalents and
	marketable securities......................................	$96,983	$209,633
Short-term and current maturities
	of indebtedness..............................................	16,023	17,738
Long-term indebtedness.....................................		1,021,392	1,007,113
Stockholders Investment....................................		260,880	217,610
Debt to equity ratio............................................		3.98:1	4.711