Contact: B. J. Kulpa
                                             President & Chief Executive Officer
                                             314-216-2600


           HUTTIG BUILDING PRODUCTS COMPLETES SPIN-OFF FROM CRANE CO.
          AND MERGER WITH U.S. BUILDING PRODUCTS BUSINESS OF RUGBY PLC

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     ST. LOUIS,  December 16, 1999 - Huttig Building Products,  Inc. (NYSE: HBP)
today  announced  the  completion  of its spin-off from Crane Co. and its merger
with the U.S.  building  products  division of Rugby Group, PLC. Huttig Building
Products  stock is being traded on the New York Stock  Exchange under the symbol
HBP.

     "This  is  a  great  day  of  Huttig,  and  our  employees,  customers  and
shareholder," said Barry J. Kulpa,  president and chief executive officer.  "The
spin-off and acquisition  create a new,  independent  Huttig that is the largest
and strongest  building products  distributor in the nation,  with approximately
$1.3 billion in sales and 3,200 employees at 76 locations.  We're  positioned to
become  the  industry  leader  in  customer  service,  responsiveness  and  cost
efficiency."

     Under the terms of the spin-off from Crane Co., each Crane  shareholder has
received one share of Huttig stock for every 4.5 shares of Crane stock they own,
or a total of about 13.9 million shares.  At the same time, Huttig has completed
its  acquisition  of the U.S.  building  products  operations  of Rugby  PLC for
approximately  6.6 million shares of Huttig stock.  Following the  transactions,
Huttig will have  approximately 20.5 million shares of common stock outstanding.


     Huttig Building  Products,  Inc. (NYSE:  HBP),  headquartered in St. Louis,
Missouri,  is the largest  distributor of millwork and building  products in the
United States.