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STANLEY WORKS ADDITIONAL WAITING PERIOD PRESCRIBED BY THE HART-SCOTT-RODINO ACT TO COMMENCE ON AUG. 30, 1992

 STANLEY WORKS ADDITIONAL WAITING PERIOD PRESCRIBED BY THE
 HART-SCOTT-RODINO ACT TO COMMENCE ON AUG. 30, 1992
 NEW BRITAIN, Conn., Aug. 12 /PRNewswire/ -- The Stanley Works has been advised by the Justice Department that as of Aug. 10, 1992, both Stanley and Newell Co., had "substantially complied" with its request for additional information issued in January 1992 in connection with Newell's Hart-Scott-Rodino filing made in December 1991.
 This means that the 20-day additional waiting period prescribed by the Hart-Scott-Rodino Act commenced on Aug. 10, 1992 and will expire at 11:59 p.m. (EDT) on Aug. 30, 1992.
 The Stanley Works has brought suit against Newell based on antitrust issues. Also, Connecticut Attorney General Richard Blumenthal has filed an antitrust action against Newell. In connection with the Stanley litigation, Newell sent a letter on Jan. 23, 1992 to the Honorable T. Emmet Clarie, United States District Judge for the District of Connecticut, stating that prior to Feb. 1, 1993 and subject to certain conditions, "Newell will not...purchase, or commence a tender offer for, any shares of Stanley common stock..."
 The Stanley Works is a worldwide manufacturer and marketer of tools, hardware, specialty hardware for consumer, home improvement, professional and industrial use.
 -0- 8/12/92
 /CONTACT: Ronald F. Gilrain of Stanley Works, 203-827-3882/
 (SWK) CO: Stanley Works; Newell Co. ST: Connecticut IN: HOU SU:


SM -- NY006 -- 9227 08/12/92 08:24 EDT
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Publication:PR Newswire
Date:Aug 12, 1992
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