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Shareholders Approve Name Change and Reverse Stock Split

12 January 2001

Shareholders Approve Name Change and Reverse Stock Split

    MILWAUKEE--Jan. 12, 2001--Actuant Corporation announced that its shareholders approved the company name change from Applied Power Inc. to Actuant Corporation and the name change is now in effect. Additionally, shareholders voted in favor of a 1-for-5 reverse stock split approved by the Company's board of directors in October. The Company's Class A common stock will begin trading on a post split basis effective on the record date of January 25, 2001. As previously announced, the name change and reverse stock split were initiated in relation to the spin-off of APW Ltd.

    Actuant, headquartered in Milwaukee, Wisconsin, is a diversified industrial company with sales approximating $500 million and operations in 19 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, Mox-Med, 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.