SPA appointed as the supplier to Lowe's import program

Business Wire, Sept 20, 1996

CHATSWORTH, Calif.--(BUSINESS WIRE)--Sept. 20, 1996--Spa Faucet Inc. (NASDAQ OTC: DRIP) announced today the appointment of the company as the supplier to Lowe's Companies Inc. (NYSE: LOW) for its faucet import program.

The program last year generated in excess of $15 million in revenues.

Leonardo Sudman, Spa's CEO said, "Our promotionally priced faucets continue to receive stellar reviews from the national chains and their customers and we continue to look forward to the transformation of Spa Faucet Inc. from a regional supplier to a national supplier to the home building superstores."

Spa Faucet Inc. is one of the fastest growing and profitable decorative faucet manufacturers in the country. The company's main clientele are Home Depot, Lowes, Payless Cashways and Home Base.

Lowe's Companies Inc. is a retail distributor of building material and supplies, lumber, hardware and appliances through over 380 stores in 23 southern states. Products include lumber, home decoration and lights, kitchen, bath and laundry items, yard, patio and garden tools and heating, cooling and water systems.

CONTACT: Spa Faucet Inc.

Leonardo Sudman, 818/718-9305