Board of Directors Authorize Reverse Stock Split.

Business Editors

MILWAUKEE--(BUSINESS WIRE)--Oct. 25, 2000

Applied Power Inc. d/b/a Actuant Corporation (NYSE:ATU) announced today that its Board of Directors has authorized a one for five reverse stock split. The reverse stock split requires shareholder approval and will be considered by the shareholders at the January 9, 2001 annual shareholders meeting. If approved, the effective date of the reverse stock split will be twelve business days after the annual meeting.

President and Chief Executive Officer, Robert C. Arzbaecher, commented, "The reverse split is being initiated in relation to the spin-off of APW Ltd. We believe the reverse split will benefit our shareholders by bringing the share price to a level more consistent with other companies our size. Additionally, this action should raise the share price to a level that appeals to the broadest range of investors."

Actuant, headquartered in Milwaukee, Wisconsin, is a diversified industrial company with sales in excess of $500 million and operations in 19 countries. The Actuant businesses are market leaders in highly engineered position and motion control systems and branded tools. Products are offered under such established brand names as Enerpac, Gardner Bender, Mox-Med, Power-Packer, and Power Gear.

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