Actuant Announces Acquisition of European DIY Electrical Supplier.

Business Editors

MILWAUKEE--(BUSINESS WIRE)--Dec. 30, 2003

Actuant Corporation (NYSE:ATU) announced today that it has purchased all the outstanding shares of Dresco B.V. ("Dresco") for approximately $30 million. A portion of the proceeds from Actuant's recent 2% senior subordinated convertible debentures offering was used to fund the transaction. Dresco, located in Wijchen, Netherlands, has approximately 120 employees and is a market leader selling electrical, plumbing and other supplies to the Benelux do-it-yourself ("DIY") market.

Robert Arzbaecher, President and Chief Executive Officer of Actuant, commented, "Dresco's market leadership, geographic proximity, and logistics competency complements our Kopp business and supports our overall Tools & Supplies segment strategy. The additional new products, customers, and markets are natural extensions to our global DIY platform. Dresco, with annual sales of approximately $30 million, is expected to be modestly accretive to Actuant's earnings per share during fiscal 2004."

Dresco's management team will continue to lead the business following the acquisition, reporting to Guus Boel, Managing Director of Kopp. Mr. Boel stated, "Dresco is a logical next step for our European DIY business. The globalization of our customers, demands for product line consolidation opportunities, and potential synergies are all factors supporting this deal. We believe that combining our respective product lines and new product development initiatives will offer customers unparalleled opportunity. I look forward to working with Albert Kalkhoven, Dresco's former owner, and his management team to ensure a smooth transition."

Actuant, headquartered in Milwaukee, Wisconsin, is a diversified industrial company with operations in over 20 countries. The Actuant businesses are market leaders in highly engineered position and motion control systems and branded hydraulic and electrical tools. Products are offered under such established brand names as Enerpac, Gardner Bender, Kopp, Kwikee, Milwaukee Cylinder, Nielsen Sessions, Power-Packer, and Power Gear.

For further information on Actuant and its business units, visit the Company's website at www.actuant.com.