Denise Nemchev Named President of Stanley Fastening Systems

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Denise Nemchev Named President of Stanley Fastening Systems
      Company Reaffirms Second Quarter and Full Year Earnings Guidance

    NEW BRITAIN, Conn., May 19 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) announced the appointment of Denise Nemchev as President of its
Stanley Fastening Systems business, a worldwide market leader in the
production of Bostitch(R) tools and fasteners. Ms. Nemchev will report
directly to Stanley Chairman and Chief Executive Officer John F. Lundgren
and succeeds John G. Garlock who has resigned to pursue opportunities
outside of The Stanley Works.
    For the past two years, Ms. Nemchev was President of Stanley Industrial
Tools, with responsibility for leading the Stanley Assembly Technologies,
Proto Tools and Vidmar industrial storage businesses. Under her leadership,
these businesses consistently exceeded commitments, delivered growth and
differentiated value propositions to end users, and realized productivity
gains needed to maintain leadership positions in competitive industrial
markets.
    John F. Lundgren, Chairman and Chief Executive Officer, stated: "Those
who know Denise understand that the value proposition offered to customers
is the focus of any business she leads. Product innovation, merchandising
and world-class fill rates will remain as top priorities. Denise will also
focus the management team squarely on the cost structure of the business.
She will seek to deliver productivity gains needed to restore profit
margins to peak levels and solidify them for the long-term. At the same
time, the business' recent progress on organic sales growth will not be
compromised. Denise is a proven and tested Stanley veteran with experience
and leadership skills that position her to undertake the challenge of
leading our Fastening Systems team at this time."
    The company also reaffirmed second quarter and full year 2006 earnings
guidance provided April 25, 2006. Mr. Lundgren added: "The management
changes announced today are in response to the long-term leadership needs
of the business and are not in reaction to current and prospective business
conditions."
    Denise Nemchev joined Stanley in 1992 as a manufacturing engineer at
the tape rule facility in New Britain, Connecticut. She progressed rapidly
through roles as a manufacturing engineer, technical specialist --
corporate procurement and productivity manager. In 2000, she was promoted
to Global Product Manager-Knives and Blades, based in the UK, and in 2001
she was named SBU Director -- Cutting Product Category. Prior to her
current position, she served as President -- Stanley Assembly Technologies
(then Stanley Air Tools) from 2002 - 2004. Denise received a Bachelor's
degree in Mechanical Engineering with a minor in Psychology from the
Massachusetts Institute of Technology (MIT) and an MBA from Rensselaer
Polytechnic Institute.
    The Stanley Works, an S&P 500 company, is a worldwide supplier of tools
and security solutions for professional, industrial and consumer use.
    The Stanley Works corporate press releases are available in the
Investor Relations section of the company's Internet web site at
http://www.stanleyworks.com .
SOURCE The Stanley Works
http://www.StanleyWorks.com
http://www.prnewswire.com/comp/874363.html /
CONTACT:
Gerry Gould, VP, Investor Relations of The
Stanley Works, +1-860-827-3833, ggould@stanleyworks.com