APW Ltd. and Neilsen Manufacturing, Inc. Announce Cooperative Alliance to Better Serve Customers.

Business Editors/High Tech Writers

ST. MICHAEL, Barbados--(BUSINESS WIRE)--Oct. 30, 2001

APW Ltd. (NYSE: APW), a leading Technically Enabled Manufacturing Services "TEMS" Company and Neilsen Manufacturing, Inc. (NMI), of Salem, Oregon, announced today an alliance between the two companies directed at extending their mutual capability to serve global customers. Under the terms of the alliance, both companies will remain independent operationally, but they will be virtually integrated so that they can design and manufacture products for shared customers in multiple locations using the facilities from both companies collaboratively through a single face to the customer.

Both companies believe that the alliance will better position them to improve customer service and win new business. Numerous benefits are created for both companies through cooperative design, engineering and manufacturing efforts combined with greater leverage of APW's Supply Alliance, a web-based private trading network, with a global hubbing system and an extensive product library. The companies are already working together on programs that involve program management at multiple APW and NMI sites.

Richard G. Sim Chairman, President, and Chief Executive Officer of APW Ltd. commented: "I am very excited by this alliance which is reflective of the strong mutual respect shared between APW and NMI. There are a select number of world-class, privately held, large electronic enclosure and integration companies that are disadvantaged by their inability to provide global execution to their customers. An alliance such as this one with NMI provides compelling advantages versus operating on a standalone basis or being acquired. This type of initiative is attractive to APW in cases such as this where our alliance partner operates in a location not well served by APW and brings established customer relationships that will benefit from APW's total global capabilities."

Tom Neilsen, Chairman of NMI commented: "We have been developing a close relationship with APW for over a year. Our challenge is a lack of global scope. However, our motivation to enter this alliance is primarily driven by the fact that APW and NMI have similar values and a shared vision for our industry. This alliance brings additional value to our customers, while preserving the continuity of our existing relationships that we have developed over many years."

About APW Ltd.

APW Ltd. is a global supply chain company that designs and manufactures large electronic products. APW has broad technical expertise in enclosures, thermal management, cabling, power supplies, backplanes and PCBA's. APW is vertically integrated in manufacturing for enclosures, thermal management and backplanes. As a global supply chain company, APW activities are integrated with those of its customers and suppliers. APW specializes in large electronic products that typically exhibit low, uneven volumes and have many customized parts.

About Neilsen Manufacturing, Inc.

Neilsen Manufacturing, Inc. is a 45-year-old family owned precision sheet metal and integration business that today emphasizes large electronic products. Services include design, state-of-the-art fabrication, assembly and integration utilizing world class manufacturing principles. NMI was recently awarded the National Family Business of the Year Award and is recognized by its clients as a preferred and award winning company.

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, 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.