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Newell Rubbermaid to Grow Commercial Products Platform with Agreement to Acquire Technical Concepts
Date:2/27/2008

Adds new categories and global scale in rapidly growing away-from-home

washroom market

ATLANTA, Feb. 27 /PRNewswire-FirstCall/ -- Newell Rubbermaid (NYSE: NWL) today announced it has signed a definitive agreement to acquire Technical Concepts Holdings, LLC, ("Technical Concepts") a leading global provider of innovative restroom hygiene systems for several high-growth segments of the away-from-home ("AFH") washroom category, for approximately $445 million. Technical Concepts' products include touch-free and automated health, wellness and odor control solutions, as well as proprietary refills, which are a key component of recurring revenue.

The transaction, which is subject to regulatory approval and customary closing conditions, is expected to close in the first half of 2008. It is anticipated to be neutral to earnings in 2008 and accretive in 2009. For the year ended Dec. 31, 2007, Mundelein, Ill.-based Technical Concepts reported net sales of approximately $137 million.

The acquisition of Technical Concepts will add substantial scale to Newell Rubbermaid's Commercial Products global business unit, creating a leading position in the $2.5 billion worldwide AFH washroom category. In addition, with approximately 40 percent of sales outside the U.S., Technical Concepts is expected to significantly increase the combined entity's global footprint.

"Our Rubbermaid Commercial Products brand is a key engine of growth for Newell Rubbermaid," said Larry McIsaac, president of Newell Rubbermaid's Commercial Products global business unit. "This acquisition fits our strategy to expand our core platforms into product categories where brands matter and customers place a premium on innovation."

Added Jack Vresics, president and chief executive officer of Technical Concepts, "As a high-quality supplier able to meet all of the broad, technically advanced AFH washroom needs, we can even more rapidly accelerate our growth by leveraging the size, scale and channel relationships of Rubbermaid Commercial Products and Technical Concepts around the world."

Newell Rubbermaid estimates there are 25 million public AFH washrooms around the world, with significant opportunity for additional penetration of Technical Concepts' systems. Amid an increasing public concern for hygiene and the transmission of infectious diseases, facilities managers for airports, educational institutions, commercial buildings and other spaces are installing washroom solutions to provide end-user peace of mind and reduce resource costs.

Technical Concepts and Rubbermaid Commercial Products share many of the same distribution channels and customer sets, providing the opportunity for meaningful improvements to customer service and continued growth. Technical Concepts generates revenue from products in the air care, skin care, surface care and touch-free categories, through the sales of fixtures, proprietary dispensers and associated refills. Known as a technology innovator, the company derives significant revenue from patented products and has several exciting new offerings in its development pipeline. Technical Concepts was founded in 1987 and has approximately 200 employees in six locations worldwide.

Caution Concerning Forward-Looking Statements

The statements in this press release that are not historical in nature constitute forward looking statements. These forward-looking statements relate to information or assumptions about the proposed transaction between the Company and Technical Concepts, the expected timetable for completing the transaction, benefits and synergies of the transaction, future opportunities for the combined company and products and any other statements regarding the future expectations, beliefs, goals or prospects of the Company or Technical Concepts. These statements are accompanied by words such as "anticipate," "expect," "project," "will," "believes," "estimate" and similar expressions. 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; competition with other manufacturers and distributors of consumer products; major retailers' strong bargaining power; changes in the prices of raw materials; our ability to develop innovative new products and to develop, maintain and strengthen our end-user brands; our ability to expeditiously close facilities and move operations while managing foreign regulations and other impediments; our ability to implement successfully information technology solutions throughout our organization; our ability to improve productivity and streamline operations; the risks inherent in our foreign operations and those factors listed in the company's most recent quarterly report on Form 10-Q, and Exhibit 99.1 thereto, filed with the Securities and Exchange Commission. Changes in such assumptions or factors could produce significantly different results. The information contained in this news release is as of the date indicated. The company assumes no obligation to update any forward-looking statements contained in this news release as a result of new information or future events or developments.

About Newell Rubbermaid

Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with sales of over $6 billion and a strong portfolio of brands, including Rubbermaid(R), Sharpie(R), Graco(R), Calphalon(R), Irwin(R), Lenox(R), Levolor(R), Paper Mate(R), Dymo(R), Waterman(R), Parker(R), Goody(R), Bernzomatic(R) and Amerock(R). The company is headquartered in Atlanta, Ga., and has approximately 22,500 employees worldwide.

This press release and additional information about Newell Rubbermaid are available on the company's Web site, http://www.newellrubbermaid.com.

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SOURCE Newell Rubbermaid
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