NORTEK ANNOUNCES KELSO INTEREST

PROVIDENCE, RI, April 8, 2002 - Nortek, Inc. a leading international designer, manufacturer and marketer of building products, today announced that its Board of Directors has received a letter from Kelso & Company, L.P., a private equity firm based in New York City, indicating that Kelso is considering making a proposal to acquire the Company in partnership with certain members of the Company's current management team. Kelso has indicated that it is only interested in pursuing a transaction that has the support of the Company and its Board of Directors.

Kelso has informed the Board of Directors of the Company that it is not yet in a position to make a formal proposal and has not yet determined precisely what the terms of any such proposal might be, but has indicated that it expects any proposal, if made, would involve a transaction in which all stockholders of the Company, with the exception of certain members of management, would receive $40.00 in cash for each of their shares. Consistent with its usual practice, Kelso has stated that it would expect management to retain a large portion of their existing equity ownership interest in the post-transaction Company.

Kelso has said that it expects to fund the equity purchase price through a combination of funds provided by affiliates of Kelso and a portion of the cash on hand at the Company. With Kelso's proposed investment, Kelso said it anticipates that the net worth of the Company would be greater immediately following the transaction than it would be immediately prior to the transaction. Because of Kelso's expectation that it will partner with Richard L. Bready, the Chairman, President and Chief Executive Officer of the Company and certain other members of the Company's management team, Kelso has informed the Company that it plans to seek the confirmation of the holders of the Company's publicly traded debt securities that the Company will not be required to purchase their debt securities by reason of the consummation of any transaction. In any event, Kelso has said it plans to arrange for the Company to have access to working capital and other credit arrangements to support all anticipated borrowing needs of the Company following any transaction. Kelso has informed the Company that Kelso is currently working with UBS Warburg LLC in connection with these matters.

Since the Board of Directors of the Company has not yet received any formal proposal from Kelso, the Board is not yet in a position to consider, and has made no determination whether to pursue, any such proposal should one be forthcoming, whether at the valuation indicated in Kelso's initial letter or otherwise. The Board of Directors has, however, appointed a special committee of independent directors that will review and consider any such proposal that may be made.

In the interim, the Company and its Board of Directors have, at the request of Kelso, taken certain preliminary steps to enable Kelso to engage in further discussions with Mr. Bready without inadvertently running afoul of certain provisions of the charter and shareholder rights plan of the Company.

There can, of course, be no assurance that any proposal, whether on the terms described by Kelso or otherwise, will be made, or that any proposal, if made, will be pursued by the Company or that any proposal, if pursued, will result in the consummation of a transaction.

*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.