CLICK HERE FOR NEWS ARCHIVE

Whirlpool Corporation Reports Record Annual Results

Whirlpool Corporation yesterday announced record fourth-quarter 2005 net earnings of $126 million, or $1.83 per diluted share, compared to $97 million, or $1.44 per diluted share, in the same period last year. The company also reported record full-year 2005 net earnings of $422 million, or $6.19 per diluted share, compared to $406 million, or $5.90 per diluted share last year.

Fourth-quarter net sales increased 9 percent from the prior-year period to $4 billion. Excluding currency translations, net sales increased by approximately 8 percent. For the full year, net sales increased $1.1 billion, or 8 percent to $14.3 billion.
Excluding currency translations, net sales increased approximately 6 percent. Both fourth quarter and annual net sales represented records for the company.

'Overall, 2005 was a challenging operating environment where we faced all-time high levels of material and oil-related costs. Our global business responded well to this environment and enabled us to deliver a record year of results for our shareholders,' said Jeff M. Fettig, Whirlpool's chairman and chief executive officer. 'These results were driven by very positive consumer demand for our new product innovations, strong sales performance, disciplined cost controls and overall outstanding execution by our people around the world.'

During the fourth quarter, net earnings increased 30 percent and operating profit margins expanded by one point. These results were positively impacted by productivity, cost-based price adjustments, volume growth, tax credits and a lower effective tax rate. Results were negatively impacted by higher incentive compensation, material and oil-related cost increases, higher restructuring costs and increased reserves for litigation.

Material and oil-related costs increased by approximately $55 million in the fourth quarter and $535 million for the year.

'We are pleased with our 2005 financial performance, as well as the significant progress made to strengthen our company's competitiveness for the future,' added Fettig. 'Our business is well positioned entering 2006 as we will launch the largest number of new products-to-market in the company's history. Our innovation pipeline continues to grow, consumer and trade response has been strong, and we continue to execute our strategy of delivering consumer-relevant innovation to our customers worldwide.'

Cash provided by operating activities for the year was $881 million and enabled the company to reduce overall debt levels from $1.4 billion to $1.2 billion during the year. Free cash flow was $412 million. (See the reconciliation table below for a comparison of cash provided by operating activities to free cash flow).

New Innovation and Awards
Whirlpool announced the company's largest number of new product innovation launches ever with the 2006 rollout of several new products:

- The Whirlpool brand's new Cabrio™ washer-and-dryer design offers a 4.5 cu. ft. capacity in a top-load design, handles the equivalent of three laundry baskets in a single load, and significantly reduces dry time through a combination of the washer's ultra-fast spin speed and the dryer's AccelerCare™ system. The Cabrio™ saves more than half the energy and water used by conventional top-load washers. The Cabrio system will be available in July 2006.

- Whirlpool brand Duet Sport™ and Duet Sport™ HT models are smaller versions of the popular Duet® front-load pair, with a six-point suspension to reduce vibration and noise. Like the Duet pair, they use less than half the water and energy of conventional top-loaders. The Duet Sport™ model will be available in March 2006 and the Duet Sport™ HT model, with a super-capacity washer drum and high-temperature 'sanitary cycle,' will be available in May 2006.

- Whirlpool brand 'classic' top-load washer and dryer have been re-designed with new technology to simplify cycle selections and ensure optimal wash temperature, and with built-in sensors to monitor wash water. The dryer's AccelerCare™ system dries clothes as fast as the washer cleans them. The 'classic' pair will be available in May 2006.

- Whirlpool brand also launched the Whirlpool Gold® Velos™ SpeedCook oven. The SpeedCook oven delivers four ways to cook in a single appliance, combining the capacity and performance of an oven with the speed of a microwave.

- KitchenAid brand launched the Dual Fuel Convection Range with Steam-Assist, which provides steam during cooking to help create everything from crusty French breads and succulent roasts to perfectly cooked fish.

- Whirlpool Europe launched the Blue Touch front-loading washing machine, which features a new full-height control panel with a central push button control area and LCD technology for full feedback. The Blue Touch model was named the United Kingdom's Fabric Care Product of the Year 2006 by Get Connected Magazine.

The Whirlpool® Fabric Freshener, which relaxes wrinkles and removes odours from fabrics in about 30 minutes, received a 'Good Buy' award from Good Housekeeping, one of the largest and most trusted consumer magazines.

Whirlpool Latin America was listed in the Carta Capital Magazine ranking of 'The most admired (companies) in Brazil 2005' in the home appliances segment.

KitchenAid brand was ranked 'Highest in Customer Satisfaction with Dishwashers and Ranges, Cooktops and Ovens(a)' by J.D. Power and Associates 2005 Major Home Appliances Study(SM).

Whirlpool Europe
Whirlpool Europe's fourth-quarter revenue of $849 million declined 5 percent from the prior-year period. In local currency, sales increased approximately 2 percent. Annual revenue increased to a record $3.2 billion.

Year-over-year unit shipments exceeded industry demand during the quarter, primarily due to strong Whirlpool brand performance and continued growth in the company's built-in business. Overall industry volume is estimated to have been flat-to-down 1 percent during the quarter. For the year, industry volume is estimated to have declined between 1-to-2 percent.

Operating profit of $46 million declined 12 percent for the quarter. Excluding the impact of currency, operating profit declined approximately 2 percent from the prior-year period. Results were positively impacted by higher volumes, productivity improvements and a $12 million gain on an asset sale, and negatively impacted by higher incentive compensation and unfavourable currency.

Based on current economic conditions, the company expects 2006 industry unit shipments to increase approximately 1-to-2 percent.

Outlook
'We are entering 2006 with strong business momentum, a proven global strategy, a cadence of new product innovation and a strong balance sheet. We expect our positive earnings momentum to continue during 2006, and our organisation is well prepared for the challenges and opportunities we expect to see in the current year,' said Fettig.

'New product introductions, productivity improvements and strong cost controls are expected to more than offset continued increases in the material and oil-related cost environment.'

'Given this environment, we are projecting our 2006 full year earnings-per-share to be in the $7.00-to-$7.25 per diluted share range without taking into account any effects of the proposed merger with Maytag.'

Maytag
On December 22nd, 2005, Maytag shareholders approved the proposed merger with Whirlpool. Completion of the proposed merger remains subject to regulatory clearance.

In order to facilitate the Antitrust Division of the Department of Justice review, Whirlpool and Maytag have agreed not to close the proposed merger before February 27th, 2006, without the Antitrust Division's concurrence, although the Antitrust Division may request additional time for review. Whirlpool and Maytag are working closely with the Department of Justice, and continue to cooperate fully with its investigation and respond promptly to its inquiries.

'We remain on track with our acquisition plans and continue to expect to close as early as the first quarter of 2006. We believe that the combination will create substantial benefits for consumers, trade customers and our shareholders,' said Fettig. 'This transaction will translate into better products, quality and service, as well as other efficiencies that will allow us to offer a more competitive, wider range of products to a much broader consumer base.'

(a) Study was based on 7,574 new-home buyers who recently purchased new kitchen appliances that were either included in the new home or purchased from a retailer.

Grohe Sets a New Industry Standard with 'Grohe Wireless!' Digital Shower Launch

'Imagine how wonderful it would be if every morning you could simply press a button and a warm and inviting shower would be waiting for you when you reached the bathroom,’ says Grohe. ‘The temperature, pre-set to the level of your choosing, and the flow rate fine tuned to your mood. Few of us can deny that we've dreamt of such a luxury. With Grohtherm Wireless!, that dream is now a reality’.

Grohe has launched what it claims to be the most advanced digital shower in the world. The Grohtherm Wireless! shower can be switched on and off from any room in the house, enabling the homeowner to walk from his or her bed straight into a shower that is running at a pre-programmed temperature and flow rate, without having to wait for hot water supplies to arrive at the shower and then leap around whilst a comfortable temperature is established.

Remote Control, Main Control
Using a Remote Control that can be mounted on any surface, for example on the wall by the bed, the owner simply pushes a button to send a signal, which simultaneously activates the shower's Main Control and starts the shower at the user's preferred setting or, if the 'SafeStart' option is chosen, at a comfortable 38°.

The Main Control is ideally positioned on the shower enclosure wall or over the bath, and can be used during showering for making temperature or flow rate adjustments and for pausing or switching the shower off. (The shower can also be operated by using the Main Control's rotary controls for flow and temperature making it easy to use by guests or family members who prefer using the shower this way). The Main Control is also used for programming and storing the owner's preferred temperature setting and flow rate, which are then effortlessly replicated automatically so that they are available for use on the Remote Control.

Upon receipt of an 'on' instruction from either the Main or Remote controls, the system communicates - wirelessly - with a concealed base unit that draws the water from hot and cold supplies and mixes and feeds it, at the chosen temperature and flow rate, to the shower head. This base unit (there are two versions, one of which includes a pump for homes with low or variable pressure) can be placed in the loft, under a bath, concealed in a cupboard, or even housed in an adjacent room. Each member of the family may programme and store their own settings, or one person can store diverse instructions for different times of the day, for example programming hot showers for the morning and warm ones for a relaxing early evening shower. Up to eight Grohtherm Wireless! controls can be added to a single system if desired, additional Main and Remote Controls can be bought to exploit this feature.

As soon as the required temperature is reached, visible and audible signals report this fact and the flow rate is reduced, pending confirmation from the user via the Main Control that he or she is ready to use the shower, whereupon the flow rate reverts to that programmed. In the event of the shower not receiving confirmation of intended use within five minutes of it being activated, it switches itself off. The Main Control also has a 'pause' button, a practical touch that is useful when washing the hair, saving water and enabling hair to be washed without it being a race against the clock.

Simple and Safe in operation
Easy to read back lit digital displays make programming and using the Main Control unit extremely simple, with temperature adjustments being made in half degree centigrade increments. Equipped with Grohe TurboStat® technology, Grohtherm Wireless! offers split second response to any change in water pressure that could adversely affect the temperature at the shower head, guaranteeing total user safety and comfort. An additional safety feature is the 'SafeStop' button designed to prevent young children or confused elderly people from scalding. To access temperatures in excess of 38°, this button must be used in conjunction with the rotary temperature control button.

Choice and Flexibility...
A key appeal of Grohe's Wireless! is that it can be used with ANY Grohe shower set, from a hose fed Movario handset to a top-of-the-range high performance shower like the Grohe Freehander or Rainshower. ‘No other shower supplier can seriously offer this array of flexibility and choice, which in performance terms, is light years ahead like Grohe's Rainshower’ says Grohe's Marketing Director, David Doust.

The system (ie Base Unit, Main Control and Remote Control) can be purchased without a shower set so the dealer can 'mix and match' the chosen shower combination or it can be bought as a complete boxed set with Grohe's Movario Trio which incorporates a universal shower set, capable of delivering the mixed water either through the wall with a wall outlet or via a telescopic extension pipe for supplies from the ceiling, thereby minimising any damage to tiling.

‘An unrivalled, revolutionary showering system...’
"Grohtherm Wireless! is quite simply the most advanced shower now on sale in the UK. Its unique combination of three programmable user settings, genuinely wire-free controls that can be fitted in minutes, Grohe Turbostat® valve technology, and our superior Grohe Dreamspray® shower heads that ensure no -compromise delivery of water flowing equally from each and every nozzle, collectively make Grohtherm Wireless! an unrivalled, revolutionary showering system’ says Mr Doust.
The Grohtherm Wireless! Shower system with Movario Trio shower set costs around £744 including VAT. Grohe products are available from quality bathroom showrooms, plumbers merchants and builders merchants nationwide.

For further details, brochures and stockists, see http://www.grohe.co.uk or call 0870 488877

VIP Service from Bauformat Kitchens at KBB2006

Having taken pole position with stand VIP 1 at this years KBB2006 Bauformat, German kitchen specialist since 1929, presented a stunning array of it's latest products. These included the latest Gloss Finishes in Cappuccino, Black & Dark Olive Wood, combined with exclusive Cappucino and white Granites which the company is also offering it's UK dealers.

While many people think of German companies for modern ranges, Bauformat reminded the industry that it has an excellent range of traditional wood finishes in both stains and open grain lacquers - on show were two variants of Range 635 in 'Red Rooster' and 'Sahara Beige' fully accessorised with pilasters and double profiled cornice.

Bauformat also displayed the latest in Kitchen Media - A Mirror, which at the flick of a remote control turns into a 32 inch TV . For studios the system can be incorporated into a coloured glass panel for and connected to a pc for client presentations.

Tel: 0845 658 1949
Web: http://www.bauformat.co.uk

Stelrad Lifestyle Launched at KBB

Visitors at this year's KBB exhibition had the opportunity to view Stelrad's new Lifestyle portfolio of radiators, towel rails and deluxe radiators, including the latest addition - the Stelrad Concord.

Available in a variety of styles and finishes which will complement any interior environment, Stelrad says that its Lifestyle range combines inspirational designs with engineering excellence.

The latest addition to the portfolio, the new Concord collection, includes four models - the Slimline, the Vertical, the Plane and the Lo-Line model. Each model will provide a stylish yet practical heating solution for any room in the home and is available in a wide range of sizes and colours.

With its flat tube design, the Concord Plane offers a stylish alternative to a standard radiator design, creating an up-to-date and simple look, while providing practical and efficient heating. The Concord Slimline and Vertical designs are also suitable for creating a focal point in any room, from a living area with contemporary furnishing to a modern office space.

In contrast, the Lo-Line model is ideally suited for odd-shaped or restricted areas. This discreet, space-saving radiator will fit neatly underneath low shelving or window sills and creates a minimalist look.

Also included in the Stelrad Lifestyle range is the Classic Column which is ideal for authentic period style projects, while also easily fitting into contemporary settings. The Optia towel radiator represents a radical departure from the traditional towel rail with its contemporary design whilst still providing excellent heating and towel warming performance.

Stelrad's extensive range of deluxe Italian design inspired towel warmers will also provide a stylish approach to space heating for any home or commercial building. There are three designs available within the new range - the Como, Lecco and Bergamo. Available in a wide variety of sizes and outputs, these are suitable for a small en-suite or even the largest commercial installation.

For more information on Ideal's new range of boilers visit http://www.idealboilers.com or email enquiries@idealboilers.com. For more information on Stelrad products, visit http://www.stelrad.com.

Black is the new Black, says William Ball

Launched at KBB 2006, William Ball proved that on the kitchen catwalk black is definitely back with the introduction of the new Nero kitchen range.

‘The flat, slab high gloss vinyl-wrapped doors ooze uber-contemporary loft-styling, creating a design statement that demands to be noticed,’ says the company.

Designers can create a monochrome marvel with this new product range by teaming the door with high gloss black granite and stainless steel bar handles.

William Ball has mixed this en vogue material with new chestnut carcases and wooden worktops resulting in a softer, yet still ultra-modern look.

As with all William Ball kitchens, Nero is available in a selection of units, which come in a wide range of heights and widths, as well as endless internal storage solutions and accessories, allowing the retailer to provide a bespoke service for any shape or size of kitchen.

Bathroom and Kitchen Stars Shine Bright at Prestigious KBB Review Industry Awards

The brightest stars in the bathroom and kitchen industry were given a chance to shine in front of thousands at the 12th annual KBB Review Industry Awards recently. Hosted by popular comedian Dominic Holland, the winners took centre stage in a gala event that promotes and celebrates the achievements of the leading talents within the bathroom and kitchen industry.

After months of meticulous judging by a top-class panel of experts, the winners were announced on Monday 23rd January in front of an audience of one thousand retailers, designers and manufacturers, followed by dancing to live band Rolla Coaster, and a chance to win fabulous prizes at the in-house casino.

Amongst the winners of the 16 award categories - which include best young designer, best showroom and best marketing - two companies were the proud recipients of not one but two awards, making them major talent to look out for in the future. London-based architect and design consultancy SHH scored a double whammy by securing the awards for both best 'designer for bathrooms' and best 'international designer', while Irish bathroom specialists The Yard also picked up two accolades - the 'master retailer award for bathrooms' and the 'marketing award for bathrooms'. Norwood Interiors became the first company in the Awards history to hold onto the title of Master Retailer for Kitchens for the second year.

Roger Cooper MD of Ideal Standard (left) presenting the award for Master Retailer for Bathrooms to Helen Scott of The Yard (also winners of the marketing award for bathrooms)


Sergio Novelli, Marketing Director, UK & Europe for Jacuzzi presenting the award for International Designer for Bathrooms to Tim Angus of SHH (also the winner of the Designer Award for Bathrooms)

Also notable during this years' event was the high-levels of talent from Northern Ireland-based companies present on the winner's podium, which demonstrates both the wide-reaching nature of the awards and the raised playing field upon which the bathroom and kitchen industry now operates. No less than 10 of the 40 finalists were from Ireland, with two companies, The Yard and Houseworks, going on to secure three awards between them on the big night.

Undoubtedly the highlight of the event is the Special Achievement Award, which gives praise to one individual's lifelong achievements within the industry and was this year awarded to BSH Group CEO Uwe Hanneck - who is well known and loved for his work promoting training for new talent in the industry and responsible appliance recycling.

‘I am most grateful for this unexpected honour and would like to thank the industry - manufacturers as well as retailers & distributors - for all their support to date. Walking up to receive this prestigious award from Tony Nicholas, I realised that I had spent half my life in this industry. Looking forward rather than back, there are still plenty of challenges ahead, such as building up the National Training Group for the Kitchen, Bedroom & Bathroom industries. I fully intend to continue contributing as much as I can to an industry that has personally given me so much’ said Mr Hanneck.

The winners breakdown:

Special Achievement Award
Uwe Hanneck, BSH Group

Young Designer Award for Bathrooms
Melinda Hill, Ripples Mayfair

Young Designer Award for Kitchens
Simon Pink - Houseworks, Dublin

Designer Award for Bathrooms
Tim Angus, SHH

Designer Award for Kitchens
Jo Sampson, Blacksheep

Showroom Award for Bathrooms
In Design, London

Showroom Award for Kitchen
Arthouse Creative Interiors, Cheshire

Marketing Award for Bathrooms
The Yard

Marketing Award for Kitchens
Kitchen Culture

Master Retailer Award for Bathrooms
The Yard

Master Retailer Award for Kitchens
Norwood Interiors

International Designer Award for Kitchens
Morgan Cronin, Cronin Kitchens, New Zealand

International Designer Award for Bathrooms
Tim Angus, SHH

Student Designer Award
Eamon Nawal, Arts Institute Bournemouth

Designer Award for Accessible Bathrooms
Alison Wright & Kate Sheehan, Easy Living Homes

Designer Award for Accessible Kitchens
Adam Thomas, Design Matters

KBSA Design Innovations Awards Ceremony and AGM Announced for 2006

A date has been announced for the 2006 Kitchen Bathroom Bedroom Specialists Association Design Innovation Awards presentation ceremony and AGM.

The event will take place at the Radisson SAS Hotel at Stansted Airport on Thursday July 6th.

‘We received very positive feedback after last years inaugural event and we are expecting an excellent turnout for this year's AGM and Design Innovation Awards presentation ceremony,’ said KBSA operations manager Lucinda Kenny.

‘The venue is a fantastic new hotel offering state-of-the-art conference facilities. Located adjacent to the airport terminal the hotel is also easily reached by either rail or road, being just of the M11 motorway at junction 8.

‘The hotel facilities include a health and fitness centre, spa and swimming pool and the rooms are all themed in three unique styles, Urban, Chilli and Ocean. The hotel has a spectacular and unique 'wine tower' in the main bar, which is 13 meters tall and houses over 4000 bottles of wine.’

The AGM will begin at 3.30pm and is scheduled to close by 5pm, leaving members plenty of time to prepare for the KBSA Design Innovation Awards Champagne Reception and presentation dinner which will begin at 7.00pm.

Booking forms for the event and entry forms for the Design Innovation Awards are now available from the KBSA.

Britannia's New XG Proves Huge Success!

Range cooker specialist Britannia is celebrating the success of its new XG range cooker, with 250 sales confirmed since its launch just three months ago.

The XG, which incorporates a dedicated grill compartment to offer greater flexibility in the kitchen was designed to meet customer demand for an extra grilling facility.
‘We are delighted with these early sales figures,’ said Britannia Marketing Manager, Henneke Duistermaat.

‘Our market research indicated that there would be demand for this new product but we have exceeded all our expectations with regards to display orders from showrooms and the follow on sales.’

The XG range cooker is available in both contemporary and traditional styles. The Classic XG offers a timeless look, the Sigma XG provides a contemporary design and the Dynasty XG a professional feel. All models are available in a variety of stylish colours, so there is a model to suit all.

All XG models offer a nine-function main oven (including fan assisted grill) and four-function secondary oven (including grill rotisserie).

For further information, visit http://www.britannialiving.co.uk or call 01253 471111 for a brochure.

Electrolux Appliances Make a Big Impression on Family Parnell in David Wilson Homes Pioneering Project:LIFE

Six months on and the results of Project:LIFE a major research project undertaken by house builder, David Wilson Homes, in conjunction with the Universities of Nottingham and Leicester are published. The findings highlight the importance of space for harmony in the home – and identified what design and equipment elements worked well – and what worked less well.

Included in the ‘Design Successes’ was the kitchen living room where the Parnells met for meals before dispersing to their own private spaces. It was fitted with the latest equipment supplied by Electrolux and the family quickly got the hang of the technology. The AEG-Electrolux appliances included: AEG-Electrolux Competence multifunction single oven with fully integrated steam functions to retain nutrients in the food. The AEG-Electrolux Micromat combination microwave which combines the speed of microwave cooking with the benefits of fan cooking and a powerful quartz grill. The AEG-Electrolux freezer and separate larder fridge with Longfresh chill zones to keep food fresher for longer. AEG-Electrolux’s integrated coffee machine for an endless supply of hot drinks, including filter or cappuccino coffee or hot water for tea and hot chocolate. On the peninsula, the Parnell family had their first experience of induction hob cooking, using the AEG-Electrolux Front-Line Future induction hob.

According to the published research study both Sue and Nick quickly became enthusiasts for the induction hob and its speed and easy control. Although Nick took some time to get used to avoiding the canopy cooker hood, he acknowledged that it worked efficiently and cooking smells were not a problem in the house, despite its open plan design.

The Parnells found the AEG-Electrolux multifunction oven with steam efficient – and liked the cleaning facility of the steam oven using vinegar instead of proprietary chemicals. Nick and Sue were also impressed by the quietness of the dishwasher – important in an open plan room. 'We only know it is on from the light shining onto the floor and the beep when it finishes' they commented. The Project:LIFE study also reported that, 'Overall the family thought the AEG-Electrolux appliances were brilliant and would buy them for their own home.'

What next?
Whilst recognising that this research is a sample of one family, nonetheless there have been valuable learnings for all the research parties. Already David Wilson Homes is starting to incorporate successful elements from Project:LIFE into the company's design philosophy and these are influencing designs which will emerge soon across the country.

The Project:LIFE house has even more to reveal in terms of environmental performance and household waste management and these findings will be published shortly.

Stoves Ovens on Set for the New Series of Masterchef

Six Stoves built-in electric ovens have been placed on set for the new series of BBC Two's MasterChef Goes Large, which began on Monday 23rd January 2006.

This popular amateur cooking competition is back for a second series and will run every weekday at 6.30pm on BBC Two for eight weeks. The six Stoves ovens will be in use throughout the series, helping the 132 novice cooks to impress the chef judges enough to secure their place in the next heat and ultimately, the series finale.

‘The 900EF electric fanned double ovens have a whole host of practical features to make cooking under the studio lights less stressful,’ says the company. ‘With around 8% more capacity than other built-in ovens on the market, the 900EF has a high performance variable grill, twin side lights in both ovens, a simple to use automatic programmer and a handy door arrest position. Ideal for the serious chef, the ovens also boast a greater number of shelf positions and extra wide mirrored viewing windows so it's easy to keep an eye on how things are cooking.

‘With Stoves unique Pristine® enamel, which is up to three times easier to clean than standard enamels, and removable control knobs, shelf supports and inner glass, these ovens are guaranteed to make the whole cooking process more hassle free for each contestant.’

Whirlpool Named Lowe's Appliance Vendor of the Year

Lowe's Companies, Inc., the United States’ second largest appliance retailer, has chosen Whirlpool Corporation as its 'Appliance Vendor of the Year.' Lowe’s announced the award at its annual Vendor Forum November 3rd, 2005.

'We selected Whirlpool for this honour based on its record of on-time shipments and innovative product offerings,' said John Kasberger, Lowe’s senior vice president and general merchandising manager, Hardlines. He specifically called out Whirlpool brand’s innovative Fast Fill water dispensing and filtration system, available on select Whirlpool Gold refrigerators. This innovative feature fills any size container twice as fast as previous dispensers, and its 50 percent larger housing easily accommodates both large and small containers.

'This is another example of how employees at Whirlpool continue to put our customers at the centre of all we do,' said Tom Ellspermann, general manager for the Lowe’s account at Whirlpool. 'We are honoured by this distinction, which grows out of the relationship between Lowe’s and Whirlpool that spans more than 30 years.'

About Whirlpool Corporation
Whirlpool Corporation is a global manufacturer and marketer of major home appliances, with annual sales of more than $13 billion, 68,000 employees, and nearly 50 manufacturing and technology research centers around the globe. The company markets Whirlpool, KitchenAid, Brastemp, Bauknecht, Consul and other major brand names to consumers in more than 170 countries. Additional information about the company can be found on the Internet at http://www.whirlpoolcorp.com.

About Lowe’s Companies, Inc.
With fiscal year 2004 sales of $36.5 billion, Lowe’s Companies, Inc. is a FORTUNE® 50 company that serves approximately 11 million customers a week at more than 1,175 home improvement stores in 49 states. Based in Mooresville, N.C., the 59-year old company is the second-largest home improvement retailer in the world. For more information, visit http://www.Lowes.com.