FOR IMMEDIATE RELEASE
THE STANLEY WORKS COMPLETES SALE OF HOME DÉCOR BUSINESS
New Britain, Connecticut, December 6, 2004 ...The Stanley Works (NYSE: SWK) announced today that it has completed the sale of its home décor business to Wellspring Capital Management, LLC.
The transaction generated an after-tax gain of approximately $30 million, or 35¢ per fully diluted share, and net proceeds of approximately $65 million, which will be utilized in part for repayment of debt and in part to fund recently-announced acquisitions.
The Stanley Works, an S&P 500 company, is a worldwide supplier of consumer products, industrial tools and security solutions for professional, industrial and consumer use.
Contact: Gerry Gould
Vice President, Investor Relations
(860) 827-3833
ggould @ stanleyworks.com
The Stanley Works corporate press releases are available under Financial News in the Investor Relations section of the company’s corporate web site atwww.stanleyworks.com.