NORTEK, INC. MARKS A SUCCESSFUL 2000 AT ANNUAL MEETING

PROVIDENCE, RI, May 3, 2001—In comments today at the Nortek, Inc. (NYSE:NTK) annual meeting of stockholders, Richard L. Bready, Chairman and Chief Executive Officer, said that despite many challenges in the marketplace 2000 was one of the best years in Nortek's history.

Mr. Bready emphasized that the Company continued to increase sales and maintain or build market share in most of its key business segments. "Results for the year were solid even though we had to deal with rising petroleum prices which, in turn, dramatically increased manufacturing costs for vinyl products. Additionally, the Company had to contend with a general economic slowdown in the second half of the year and continued softness in the manufactured housing market."

Mr. Bready pointed to several positive financial and operational results. Net sales for 2000 were $2.2 billion, a 10-percent increase over 1999 and the highest reported in any year inNortek's history. Net earnings of $41.6 million and diluted net earnings per share of $3.70 were the second highest in company history. The Company also ended the year with a strong balance sheet including $141 million in unrestricted cash and securities.

All three of Nortek's operating groups increased net sales during 2000 led by the Company's Air Conditioning and Heating Products Group, which boosted sales by 17 percent. Nortek's Windows, Doors and Siding Products Group increased sales by 13 percent and the Residential Building Products Group grew sales by 4 percent. More than (30) thirty Nortek-owned companies contribute to the breadth of product offerings from these business units. Mr. Bready added that Nortek continues to hold market leadership positions in many of its major product lines and gave attending stockholders a visual presentation of many of Nortek's well-known products and brand names.

Mr. Bready further said, "Going forward, Nortek will remain focused on several key strategic initiatives: broaden our offerings of high-quality products to enhance the benefits of home ownership, expansion and remodeling; grow our existing businesses and expand distribution both domestically and internationally; continue to assimilate recent acquisitions into existing businesses and seek other acquisitions where appropriate; reduce and control costs wherever possible; and continue to build shareholder value in Nortek."

Re-Election of Two Directors

In other annual meeting news, Mr. Bready and Phillip L. Cohen were re-elected to new three-year terms on the Nortek Board of Directors. Mr. Bready has been a director since 1976. Mr. Cohen, a financial consultant and certified public accountant, was first elected to the board in 1996. Stockholders also approved Nortek's 2001 Equity and Cash Incentive Plan. Mr. Bready said this plan "provides stock and cash incentives that align the interests of executive management with the interests of all shareholders."

At the organizational meeting after the formal close of the annual meeting, Nortek's Board of Directors appointed Richard J. Harris to the new position of Senior Vice President-Administration. Mr. Harris, who had been serving as Vice President and Treasurer, also remains on the board of directors to which he was first elected in 1984. In his new post, Mr. Harris will have overall corporate responsibility for a number of functions including cash management, treasury, employee benefits, human resources, corporate communications and administration relating to Nortek's 30-plus subsidiaries. He joined Nortek in 1972 and has previously served as Assistant Treasurer and Manager of Corporate Accounting. Prior to Nortek, Mr. Harris worked for Texas Instruments, Price Waterhouse & Co., General Motors, and was a CPA in Massachusetts and Rhode Island.

The board also voted to form a new Nominating Committee comprised of Mr. Bready, Mr. Cohen and William I. Kelly. The Nominating Committee is charged with considering and recommending nominees for election as directors and reviewing the performance of incumbent directors.

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. 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 impacting such forward looking statements include the availability and cost of raw materials and purchased components, the level of construction and remodeling activity, changes in general economic conditions, the rate of sales growth, 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.