Watts Industries, Inc. Declares Quarterly Dividend, Authorizes Share Repurchase

Watts Industries, Inc. declared a quarterly dividend of six cents ($.06) per share on the company's Class A Common Stock and Class B Common Stock payable Dec. 14, 2001 to stockholders of record on Dec. 3, 2001.

Watts also received authorization from its board of directors to repurchase 500,000 shares of its Class A Common Stock from time to time through open market and private purchases. This authorization increases the total authorized shares in the repurchase program to 672,200 shares. The company currently has outstanding approximately 26.5 million shares.


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