Maytag Corporation is a leading producer of home and commercial appliances. Its products are sold to customers throughout North America and in international markets. (PRNewsFoto) NEWTON, IA USA

    NEWTON, Iowa, July 29 /PRNewswire-FirstCall/ -- Maytag (NYSE: MYG) could
earn tens of millions of dollars in federal tax credits thanks to a provision
included in the federal energy bill that was sent to the President's desk
today.  The energy bill will help expand U.S. sales of super-efficient clothes
washers, refrigerators and dishwashers.
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20000505/MYGLOGO )
    Maytag Chairman and CEO Ralph Hake said, "The appliance manufacturers' tax
credit will support our future product innovations and is expected to have a
positive impact on the company's overall financial performance. In addition,
the energy bill is a winning proposition for both the consumers and the
environment."
    The provision was first introduced in the Senate by Senators Chuck
Grassley of Iowa and Blanche Lincoln of Arkansas, and in the House by
Congressmen Jim Nussle of Iowa and John Tanner of Tennessee.  Maytag has
manufacturing operations in Newton and Amana, Iowa, Searcy, Arkansas and
Jackson and Cleveland, Tennessee.
    Hake noted, "We commend our congressional sponsors for their leadership
and dedication to energy efficiency and applaud the Congress for meeting the
President's deadline."
    The credit, which applies only to U.S. production, provides manufacturers
with a credit of $50 to $175 for each super efficient appliance produced in
excess of a rolling baseline.  The baseline is the average number of
qualifying appliances produced in the previous three calendar years.  The
maximum credit for each appliance manufacturer is $75 million over a two-year
period beginning in 2006.  Maytag could earn tens of millions of dollars in
tax credits depending on future production levels and ability to utilize tax
credits.
    "Maytag has been a leader in promoting the appliance manufacturers' tax
credit for more than five years," said David Steiner, vice president,
government affairs.  "It will encourage further development of new energy-
efficient, environmentally-friendly appliances and will also help support
American appliance manufacturing jobs."
    Also included in the energy bill is a provision adopting federal energy
and water efficiency standards for residential-style commercial clothes
washers.  The new standard, for the first time, will require certain clothes
washers to meet water efficiency requirements at the federal level.
    Other provisions include expanded programs for state-sponsored incentives,
including authorization of up to $250 million over five years to provide
rebates to consumers purchasing energy efficient appliances; educational
programs to inform owners of coin-operated laundries, multi-family housing and
other sites where commercial clothes washers are located about the new energy
and water efficiency standards; and authorization to establish energy
efficiency standards for refrigerated beverage vending machines.
    Maytag Corporation is a $4.7 billion home and commercial appliance company
focused in North America and in targeted international markets.  The
corporation's primary brands are Maytag(R), Hoover(R), Jenn-Air(R), Amana(R),
Dixie-Narco(R) and Jade(R).

    Forward-Looking Statements:  Certain statements in this news release,
including any discussion of management expectations for future periods,
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995.  Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that may
cause actual results to differ materially from the future results expressed or
implied by those statements.  For a description of such factors, refer to
"Forward-Looking Statements" in the management's Discussion and Analysis
section of Maytag's Annual Report on Form 10-K for the year ended January 1,
2005, and each quarter's 10-Q.

    Media Contact:  John Daggett
    Maytag Corporate Communications
    (641) 787-7711
    john.daggett@maytag.com

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