EXHIBIT 99.1
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NEWELL RUBBERMAID NEWS RELEASE
JULY 1, 2004 PAGE 1 OF 2
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Newell Rubbermaid Inc.
Atlanta, GA
Securities Listed
NYSE
Common Stock
(Symbol: NWL)
www.newellrubbermaid.com
JESSE HERRON SUSAN MASTEN
Vice President, Director,
Investor Relations Public Relations
10B Glenlake Parkway, 10B Glenlake Parkway,
Suite 600 Suite 600
Atlanta, GA 30328 Atlanta, GA 30328
Phone: 770-407-3994 Phone: 770-407-3817
Fax: 770-407-3983 Fax: 770-407-3983
NEWELL RUBBERMAID COMPLETES DIVESTITURE PROGRAM
WITH SALE OF LITTLE TIKES COMMERCIAL
ATLANTA, July 1, 2004 - Newell Rubbermaid Inc. (NYSE: NWL) announced
today that it has completed the sale of Little Tikes Commercial Play
Systems Inc. (LTCPS) to PlayPower, Inc. LTCPS, a unit of the
company's Little Tikes division, is a manufacturer of commercial
playground systems and contained playground environments. The company
will retain the consumer portion of its Little Tikes division. In
2003, LTCPS, headquartered in Farmington, Mo., contributed
approximately $60 million of sales to the company. LTCPS will be
reported as discontinued operations for financial reporting. Other
terms of the agreement were not disclosed.
Newell Rubbermaid CEO Joseph Galli said, "This transaction marks the
close of our previously announced divestiture plan for 2004. We've
made great strides in reconfiguring our company into the right
portfolio of businesses with strong brands and high potential for
innovation. As we go forward, we will continue to assess our
portfolio and take advantage of opportunities to enhance our growth
platforms."
NEWELL RUBBERMAID NEWS RELEASE
JULY 1, 2004 PAGE 2 OF 2
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CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
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The statements in this press release that are not historical in nature
constitute forward-looking statements. These forward-looking
statements may relate to information or assumptions about internal
sales, income/(loss), earnings per share, capital expenditures, cash
flow, dividends, restructuring and other charges, costs and cost
savings, and management's plans, projections and objectives for future
operations and performance. Actual results could differ materially
from those expressed or implied in the forward-looking statements.
Important factors that could cause actual results to differ materially
from those suggested by the forward-looking statements include, but
are not limited to, our dependence on the strength of retail economies
in various parts of the world; competition with numerous other
manufacturers and distributors of consumer products; retailer
customers' strong bargaining power; our ability to develop innovative
new products and to develop, maintain and strengthen our end-user
brands; our ability to improve productivity and streamline operations;
our ability to integrate previously acquired businesses; the risks
inherent in our foreign operations; and those factors listed in the
company's 2004 first quarter Form 10-Q, including Exhibit 99.1
thereto, filed with the Securities and Exchange Commission.
ABOUT THE COMPANY
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Newell Rubbermaid Inc. is a global marketer of consumer and commercial
products with 2003 sales of $7 billion and a powerful brand family
including Sharpie{R}, Paper Mate{R}, Parker{R}, Waterman{R},
Rubbermaid{R}, Calphalon{R}, Little Tikes{R}, Graco{R}, Levolor{R},
VISE-GRIP{R}, BernzOmatic{R}, IRWIN{R} and LENOX{R}. The company,
headquartered in Atlanta, Ga., employs approximately 40,000 people
worldwide.
This press release is available on the company's web site at
www.newellrubbermaid.com.