Asia PR News

ATLANTA, Ga., July 29 /PRNewswire-AsiaNet/ –

Strengthens Company’s Global Leadership Position in Office Products

Acquisition Expected to be Accretive in 2006

Newell Rubbermaid Inc. (NYSE: NWL) announced today it has reached a
definitive agreement to acquire DYMO, a global leader in designing,
manufacturing and marketing on-demand labeling solutions, for approximately
$730 million in cash. The acquisition, which is expected to close by year-end,
is subject to applicable regulatory approvals and other customary closing
conditions. Newell Rubbermaid expects the acquisition to be neutral to
earnings in 2005 and approximately $0.06 per share accretive in 2006. DYMO is
a division of Esselte Group Holdings AB.

Through its well-known product lines including LabelWriter(R),
LabelManager(R), LetraTAG(R) and RhinoPro, DYMO has built a strong position in
consumer, office and industrial channels in North America, Europe and
Australia, supported by innovative, patented new products and broad
distribution. DYMO offers a comprehensive range of manual and electronic
labelmakers, PC and Macintosh connected label printers and related consumables
for all its products. DYMO, headquartered in Stamford, Conn., generated
global net sales of approximately $225 million in 2004.

Joseph Galli, chief executive officer of Newell Rubbermaid, said, "The
combination of DYMO and our writing instruments and office products business
represents a significant opportunity given the complementary nature of the
product lines, distribution networks and geographies. This is an excellent
example of our commitment to transform our portfolio into a focused group of
leadership platforms through investment in high-quality brands with a proven
track record of bringing innovative new products to the category."

Magnus Nicolin, chief executive officer of Esselte, said, "Over the last
three years we have invested heavily in DYMO to substantially build the
business. Today’s announcement is a confirmation of our success in this
effort."

Newell Rubbermaid Office Products Group President, Steve Marton added, "We
are excited about the opportunity to add DYMO to our leadership portfolio of
branded writing instruments and office products. The talented team at DYMO
has done a tremendous job developing category-leading products and
technologies. By leveraging this portfolio and our strong distribution
capabilities, we believe we can maximize this compelling growth opportunity."

Phil Damiano, president of DYMO, will remain with the organization and
lead this strategic business unit within Newell Rubbermaid’s Office Products
Group.

Mr. Damiano said, "DYMO has an impressive track record of growth. The
combined strengths of DYMO and Newell Rubbermaid in the consumer, office and
industrial channels will allow us to build on this success."

Newell Rubbermaid’s Office Products Group accounted for $1.7 billion of
the company’s $6.5 billion in sales in 2004. The group manufactures and
markets writing instruments, art products and office organization supplies,
led by a powerful brand family including Sharpie(R), Paper Mate(R), Parker(R),
Waterman(R), EXPO(R), uni-ball(R), and Rolodex(R).

Esselte plans to use the proceeds of this transaction to substantially
repay all of its current outstanding debt. In that connection, Esselte plans
on the closing date to call for redemption its then outstanding 7.625% senior
notes due in 2011, in accordance with Article III of the note indenture.

Esselte will focus its energies on supporting its global filing and
organization business which consists of Pendaflex and Oxford in the U.S. and
Esselte and Leitz throughout the rest of the world. Additionally, it is
expected that Esselte will devote increasingly more resources to building its
creative division which is made up of the Xyron craft and hobby business. The
crafting industry has been rapidly growing for the past four years. Esselte
sees this business as its next growth engine.

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 impact of the acquisition on
earnings, 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 first quarter 2005 Form 10-Q, including
Exhibit 99.1 thereto, filed with the Securities and Exchange Commission.

About Newell Rubbermaid
Newell Rubbermaid Inc. is a global marketer of consumer and commercial
products with 2004 sales of $6.5 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 on the company’s web site at www.newellrubbermaid.com.

About Esselte
Esselte, whose registered office is in Solna, Sweden, and whose executive
office is in Stamford, Conn., USA, is a leading global office supplies
manufacturer with 2004 annual sales of approximately $1.2 billion, operations
in 33 countries (including Hong Kong) and approximately 5,600 employees
worldwide. The Company develops, manufactures and sells products that
simplify the modern home and workplace. Esselte sells more than 20,000
different office product SKUs in over 120 countries. In addition to DYMO its
principal brands include Esselte, Leitz, Pendaflex and Xyron. For more
information about the company please visit www.esselte.com.

For more information about DYMO please visit www.dymo.com.

SOURCE: Newell Rubbermaid Inc.

CONTACT: Jesse Herron, Vice President, Investor Relations
+1-770-407-3994 or Fax +1-770-407-3983

Cari Davidson, Manager, Public Relations
+1-770-407-3994 or Fax +1-770-407-3983

both of Newell Rubbermaid Inc.

Chris Curran, Director of Public Relations for Esselte
+1-203-355-9022 or Mobile +1-203-570-7564

FCMN Contact:
nikki.fortson@newellco.com

Company News On-Call:
http://www.prnewswire.com/comp/138728.html

Web site: http://www.newellrubbermaid.com
http://www.esselte.com
http://www.dymo.com

(NWL)