Maytag Reinforces Innovation Strategy at Prudential Best Ideas Conference


     NEWTON, Iowa (Sept. 23, 1999) Maytag Corporation's CEO Lloyd D. Ward

today reinforced the corporation's innovation strategy during a conference

presentation to members of the investment community hosted by Prudential in

Mt. Snow, Vermont.

     "Our goal is profitable growth, and our strategy to achieve that is

intelligent innovation and operating excellence," Ward reiterated to the

audience.  "We are taking steps to reinforce both and to strengthen the

culture that will sustain both.

     "Although our performance has slowed somewhat from an exceptionally

strong first half, we still expect sales and earnings in the second half to

be at least on par with last year's record level.  Given the fundamental

strength of our business, we are disappointed and concerned by the over-

reaction of the stock market to our expected performance.

     "Full year 1999 earnings per share is on track to grow in the mid-

teens, behind another year of record sales and earnings for Maytag

Corporation.  And we continue to believe we're capable of delivering an

earnings per share growth rate in the low to mid-teens in 2000."

     During the presentation, Ward further reinforced Maytag's commitment

to innovation by pointing to the recent announcement of a business

realignment as one initiative aimed at increasing the corporation's

capability to deliver innovation across all its businesses and brands. Ward

also provided more detail around the corporation's target to take out $100

million in costs during the next two years.

     "The largest portion, some $40 to $50 million, will come from

accelerated initiatives in our quality and productivity program that

combines the best of Lean Manufacturing concepts and Six Sigma concepts.






We have realized some savings in 1999 from pilot projects; we expect more

to accrue in 2000.  This is an ongoing discipline and is being built into

management accountability and performance objectives."

     The second phase in attacking the $100 million in costs, according to

Ward, involves re-engineering the general and administrative cost structure

at Maytag.  "Here, we have our sights set on a $20 to $30 million target.

We expect to frame this initiative more precisely and announce our

intentions before the end of the year.  We will work to implement those

actions during the first half of 2000 and expect to begin gaining benefits

during the second half."

     The third phase involves gaining overall benefits from the business

realignment and specific initiatives focused on supply chain

rationalization and improvement.  "We know there is a potential gain here,

in a range of $20 to $30 million," Ward said.  "We expect to gain modest

benefits from the realignment this year and through the first half of 2000,

with more substantial benefits occurring in the second half."

     Ward concluded by pointing to three near-term growth imperatives that

are expected to drive Maytag's performance.  "We are focused on increasing

the speed, efficiency, and effectiveness of innovation.  The recent

announcements of a business realignment and formation of Maytag s World

Innovation Network are both key to our ability to deliver innovation faster

and more effectively.

     "Second, we are committed to redefining our value brand proposition by

taking our successful intelligent innovation strategy into popular price

points.  To date, we have leveraged innovation primarily on premium price

points.  Going forward we will deliver innovation to all our products and

brands.  With Performa by Maytag products we have proven we can create




shareowner value by delivering innovation at popular price points as well

as delivering innovation at higher price points.  Now, we are taking that

strategy to every business, every product line, and every brand.

     "Finally, we are focused on improvement in operating excellence.  The

cost, quality, and productivity initiatives underway are central to helping

us create value for consumers, customers, and shareowners,"  Ward said.

     Maytag Corporation is a leading producer of home and commercial

appliances.  Its products are sold to customers throughout North America

and in international markets.

                                   # # #

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.  Refer to Part II, Item 7 of Maytag's
Annual Report on Form 10-K for the year ended December 31, 1998, for a
description of such factors. 

CPI9926
Media Contact:
Additional Information:
Jim Powell
www.maytagcorp.com
Maytag Corporate Communications
515-787-8392
jpowel@maytag.com

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