Apollo Management, L.P. Completes Acquisition of Jacuzzi Brands, Inc.

WEST PALM BEACH, Fla. -- Jacuzzi Brands, Inc. (NYSE: JJZ) today announced that affiliates of Apollo Management, L.P. ("Apollo") have completed the acquisition of Jacuzzi Brands. As previously announced, on October 11, 2006, the two companies entered into a definitive merger agreement, pursuant to which Apollo would acquire all of the outstanding common stock of Jacuzzi Brands for $12.50 per share in cash and assume all outstanding debt, valuing the total transaction at approximately $1.25 billion.

Alex P. Marini, Chief Executive Officer of Jacuzzi Brands, will have a continuing role managing both Jacuzzi Bath and Zurn Industries following consummation of the merger. George M. Sherman, co-investor with Apollo, and Non-Executive Chairman of Rexnord Corporation and former President and CEO of Danaher Corporation, has assumed the role of Non-Executive Chairman of Jacuzzi Bath.

Mr. Marini said, "We are confident that as a private company, and combined with George Sherman's vast industry experience, Jacuzzi Brands will be better positioned to operate in the highly competitive and capital-intensive global bath and plumbing industries. Our customers will continue to receive the high-levels of service, product quality and innovation that they have come to expect from Jacuzzi Brands, as our commitment to serving their needs remains steadfast. On behalf of Jacuzzi Brands' Board of Directors, I want to thank our stockholders and hard-working employees for their support throughout this process."

Larry Berg, a Senior Partner at Apollo, commented, "We are pleased to have completed the acquisition of Jacuzzi Brands. We look forward to working with George Sherman, the Zurn and Jacuzzi management teams and their dedicated employees to continue providing high quality products and services."

Jacuzzi Brands stock will cease to trade on the New York Stock Exchange at market close today and will be delisted. Under the terms of the agreement, Jacuzzi Brands stockholders are entitled to receive $12.50 in cash for each share of Jacuzzi Brands common stock that they hold. The paying agent appointed by Jacuzzi Brands will mail a letter of transmittal and instructions to all Jacuzzi Brands stockholders of record. The letter of transmittal and instructions will contain information on how to surrender Jacuzzi Brands common stock in exchange for the merger consideration, without interest. Stockholders of record should be in receipt of the letter of transmittal before surrendering their shares. Stockholders who hold shares through a bank or broker will not have to take any action to have their shares converted into cash as such conversions will be handled by the bank or broker.

About Jacuzzi Brands

Jacuzzi Brands, Inc., through its subsidiaries, is a global manufacturer and distributor of branded bath and plumbing products for the residential, commercial and institutional markets. These include whirlpool baths, spas, showers, sanitary ware and bathtubs, as well as professional grade drainage, water control, commercial faucets and other plumbing products. Our products are marketed under our portfolio of brand names, including JACUZZI[R], SUNDANCE[R], ZURN[R], and ASTRACAST[R].

About Apollo Management L.P.

Apollo, founded in 1990, is a leader in private equity, debt and capital markets investing. Since its inception, Apollo has invested approximately $20 billion in companies representing a wide variety of industries, both in the U.S. and internationally. Apollo is currently investing its sixth private equity fund, Apollo Investment Fund VI, L.P., which along with related co-investment entities, represents approximately $12 billion of capital.