Catalina Lighting Announces $75 Million Bank Credit Facility

MIAMI, July 19 /PRNewswire/ -- Catalina Lighting, Inc. (NYSE: LTG), a leading international designer, manufacturer and distributor of lighting products for residential and office environments, today announced the signing of a $75 million credit facility with a bank syndication group led by SunTrust Bank N.A. The facility consists of a revolving credit line for the Company's ongoing operations in the United States and the United Kingdom and a five-year term loan to finance the recently completed acquisition of Ring Plc. "We are pleased to expand and broaden our longstanding relationship with SunTrust Bank," stated Dean Rappaport, Executive Vice President and Chief Operating Officer of Catalina Lighting, Inc. "This credit facility provides the necessary flexibility for Catalina to pursue its global strategic objectives."

Earlier this month, Catalina completed the purchase of Ring Plc, a leading supplier of lighting, automotive aftermarket products and industrial consumables in the United Kingdom, for approximately $33 million. Ring Plc's revenues for the year ended December 31, 1999, totaled approximately $127 million. Catalina and Ring's combined proforma revenues for the twelve months ended March 31, 2000, were approximately $300 million. Catalina Lighting, Inc., a leading international designer, manufacturer and distributor of lighting products for residential and office environments, employs approximately 3,800 people throughout the United States, Canada, the United Kingdom, Europe, Southeast Asia, Mexico, and South America. The Company is headquartered in Miami, Florida, and its common stock trades on the New York Stock Exchange under the ticker symbol "LTG."

This press release includes statements that may constitute "forward- looking" statements, usually containing the words "believes," "anticipates," "estimates," "should," "expects," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, general domestic and international economic conditions, consumer spending trends, reliance on key customers, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, product prices and raw material costs, dependence upon third-party vendors, dependence on imports from China, competitive developments, changes in manufacturing and transportation costs, the availability of capital, foreign exchange rates, changes in the Company's effective tax rate, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

For further information, please contact David Sasnett, Chief Financial Officer or Dean Rappaport, Chief Operating Officer at (305) 558-4777 or R. Jerry Falkner, CFA, Investor Relations Counsel at (800) 377-9893 or info@rjfalkner.com. Copies of Catalina press releases may be obtained by fax at any time by calling (800) 758-5804 and inputting access number 146925. SOURCE Catalina Lighting, Inc.

CONTACT:
David Sasnett, Chief Financial Officer, or Dean Rappaport, Chief Operating Officer, both of Catalina Lighting, Inc., 305-558-4777; or R. Jerry Falkner, CFA, Investor Relations Counsel for Catalina Lighting, Inc., 800-377-9893, or info@rjfalkner.com