Maytag Expects to Report Lower Fourth Quarter Results
                 in midst of Major Appliance Industry Weakness



   NEWTON, Iowa -(Dec. 14, 2000) - Maytag Corporation (NYSE:  MYG)

   announced today that it experienced slower than expected sales of major

   appliances during October and November, which will cause fourth quarter

   consolidated sales and earnings for the corporation to be below previous

   expectations.

        "The expectations set by this organization publicly were based on

   assumptions that the major appliance industry would be flat or down

   slightly for the quarter," said Maytag President and CEO Leonard A.

   Hadley.  "The industry is down more severely and, as a result, we are

   seeing lower volume in our major appliance division, which translates

   directly into weaker operating income and operating inefficiencies

   associated with lower production levels.  Sales of Hoover floor care

   products, however, remain strong."

        Maytag's Chief Financial Officer Steven H. Wood said, "We now

   expect fourth quarter earnings per share from operations to be

   approximately 50 percent lower than fourth quarter 1999."  Last year

   Maytag reported $.82 for the fourth quarter.  Additionally, Wood pointed

   to special charges that Maytag expects to take in the fourth quarter.

   "We expect to include in our fourth quarter results a number of one-time

   charges associated with asset write-downs, suspended business

   initiatives, and other expenses, including the previously announced

   management reorganization.  The special charges could total as much as

   $55-$65 million pre-tax."

        Hadley concluded by saying, "In spite of the weakness in the major

   appliance industry in the fourth quarter, which is likely to continue
   




   into the first quarter of next year, I have a great deal of confidence

   in this company and in the actions we are taking to refocus on our core

   business and strengths.  My challenge to the organization is to deliver

   in 2001 earnings-per-share performance that matches or betters full year

   2000 earnings-per-share results, excluding the one-time charges.

   Assuming benign economic conditions, I believe we can do that."

        Maytag will hold a conference call with the investment community

   Thursday, Dec. 14 at 10 a.m. Central Time to discuss today s

   announcement.  Those wishing to participate in the call should telephone

   212-896-6029.  Additionally, the conference call will be broadcast live

   over the Internet.  It can be accessed through Investor Broadcast

   Network's Vcall Web site at www.vcall.com.

        Maytag Corporation is a leading producer of home and commercial

   appliances sold throughout North America and international markets.  The

   corporation's brands include Maytag, Hoover, Jenn-Air, Blodgett, and

   Dixie-Narco.

                                     # # #

   Forward-Looking Statements:  Certain statements in this news release,
   including any discussion of management expectations for future periods,
   constitute "forward-looking statements" within the meaning of the
   Private Securities Litigation Reform Act of 1995.  Such forward-looking
   statements involve known and unknown risks, uncertainties and other
   factors that may cause actual results to differ materially from the
   future results expressed or implied by those statements.  For a
   description of such factors, refer to "Forward Looking Statements" in
   the Management's Discussion and Analysis section of Maytag's Annual
   Report on Form 10-K for the year ended December 31, 1999, and each
   quarter's 10-Q.


   CPI0049





   Media Contact:
                       Additional Information:

   James G. Powell
                      www.maytagcorp.com

   Maytag Communications
   641-787-8392

   jpowel@maytag.com