APW Announces Changes In Board Of Directors.

Business Editors

WAUKESHA, Wis.--(BUSINESS WIRE)--May 3, 2001

APW Ltd. (NYSE: APW), the leading global Technically Enabled Manufacturing Services "TEMS" company, is announcing the resignation of Dennis Kozlowski as a director of the company. As Tyco International expands its presence into the Electronic Manufacturing Services market in general, and specifically enters the enclosures market, Tyco and APW will increasingly become competitors. The conflict of interest that this creates requires that Dennis resign from the APW Board of Directors at this time.

Richard G. Sim, Chairman and Chief Executive Officer of APW commented, "It has been a privilege to have Dennis as a board member of APW Ltd. and before that of Applied Power Inc., dating back to 1994. His advice and counsel have been of great help to the company."

About APW Ltd.

APW Ltd. is a Technically Enabled Manufacturing Services "TEMS" company that designs and manufactures large, complex infrastructure products for OEM's in the communications, large enterprise hardware and Internet markets.

APW Ltd. has particular skills in the areas of manufacturing enclosures, thermal management, power supplies and backplanes; as well as core competencies in product and system design, integration and supply chain management. APW Ltd. operates in over 50 locations throughout North America, South America, Europe and Asia.

For further information contact:
APW Ltd.
Susan Hrobar, Vice President
262-523-7775
www.apw.com

Safe Harbor Statement

Certain of the above comments represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. Management cautions that these statements are based on current estimates of future performance and are highly dependent upon a variety of factors, which could cause actual results to differ from these estimates. APW Ltd.'s results are also subject to general economic conditions, market conditions in the computer, semiconductor, telecommunications, and electronic industries in North America, South America, Europe and Asia, continued market acceptance of APW's existing products and new product introductions, the successful integration of recent and pending acquisitions, successful negotiation of bank facilities, competitive product and pricing pressures, foreign currency risk, interest rate risk, and APW's ability to access capital markets. See our Form 10 and Form S-3 for further information on risk factors.