01.06.2005 23:02:00

Newell Rubbermaid Completes Sale of Curver

ATLANTA, June 1 /PRNewswire-FirstCall/ -- Newell Rubbermaid Inc. announced today that it has completed its previously announced sale of its Curver business to Jardin International Holding BV. This transaction is consistent with the company's intention to divest non-strategic businesses and concentrate on leveraging brand strength and product innovation in its core portfolio of businesses. Curver, the company's European indoor organization and home storage division, contributed approximately $150 million of revenue in 2004. Curver is reported as discontinued operations for financial reporting.

Newell Rubbermaid CEO Joseph Galli said, "Completing this sale marks continued progress as we focus on strengthening our portfolio. We will continue to take the necessary steps to transform Newell Rubbermaid into a focused group of leadership platforms."

Outlook

The company continues to expect total non-cash and operating losses related to this transaction to be in the range of $60 to $80 million for the full year, which includes a $50.3 million net loss recorded in the first quarter 2005. The remaining loss will be recorded in the second quarter 2005.

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 internal sales, income/(loss), earnings per share, capital expenditures, cash flow, dividends, restructuring, impairment and other charges, potential losses on divestiture, 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; major retailers' strong bargaining power; changes in the prices of raw materials used by the company; 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 2005 first quarter Form 10-Q, including Exhibit 99.1 thereto, filed with the Securities and Exchange Commission.

About the Company

Newell Rubbermaid Inc. is a global marketer of consumer and commercial products with 2004 sales of $6.6 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), BernzOmatic(R), VISE- GRIP(R), IRWIN(R) and LENOX(R). The company is headquartered in Atlanta, Ga., and has over 31,000 employees worldwide.

This press release and additional financial information about the company is available at http://www.newellrubbermaid.com/ .

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