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					Investor Presentation




                    January 5, 2010
Forward Looking Statements
Statements in this presentation that are not historical in nature constitute forward-looking statements. These
forward-looking statements relate to information or assumptions about the effects of sales, income/(loss), earnings
per share, operating income or gross margin improvements or declines, Project Acceleration, capital and other
expenditures, cash flow, dividends, restructuring costs, costs and cost savings, inflation, particularly with respect to
commodities such as oil and resin, debt ratings, and management's plans, projections and objectives for future
operations and performance. These statements are accompanied by words such as "anticipate," "expect,"
"project," "will," "believe," "estimate" and similar expressions. Actual results could differ materially from those
expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ
materially from those suggested by the forward-looking statements include, but are not limited to, our dependence
on the strength of retail, commercial and industrial sectors of the economy in light of the global economic
slowdown; currency fluctuations; competition with other manufacturers and distributors of consumer products;
major retailers' strong bargaining power; changes in the prices of raw materials and sourced products and our
ability to obtain raw materials and sourced products in a timely manner from suppliers; our ability to develop
innovative new products and to develop, maintain and strengthen our end-user brands; our ability to expeditiously
close facilities and move operations while managing foreign regulations and other impediments; our ability to
implement successfully information technology solutions throughout our organization; our ability to improve
productivity and streamline operations; our ability to refinance short-term debt on terms acceptable to us,
particularly given the uncertainty in the global credit markets; changes to our credit ratings; significant increases in
the funding obligations related to our pension plans due to declining asset values or otherwise; the imposition of tax
liabilities greater than our provisions for such matters; the risks inherent in our foreign operations and those factors
listed in the company’s most recent quarterly report on Form 10-Q, and exhibit 99.1 thereto, filed with the
Securities and Exchange Commission. Changes in such assumptions or factors could produce significantly
different results. The information contained in this presentation is as of the date indicated. The company assumes
no obligation to update any forward-looking statements contained in this presentation as a result of new
information or future events or developments.

                                              Nancy O’Donnell                          Alisha Pennix
INVESTOR RELATIONS CONTACTS:
                                              VP, Investor Relations                   Manager, Investor Relations
                                              +1 (770) 418-7723                        +1 (770) 418-7706
                                              nancy.odonnell@newellco.com              alisha.pennix@newellco.com



                                                                                                                           2
Company Overview




                   3
Newell Rubbermaid Vision




                           4
Well-Balanced, Diversified Portfolio

                   Segment                        Geography
 Tools, Hardware              Home &
  & Commercial                Family                      Latin
    Products                                    Asia     America
                                                                     Europe
                                                       6% 4%
           28%                                                     15%
                             41%
                                                75%
              31%



          Office                                 North America
         Products


                       2008 Net Sales: $6,471 million


                                                                              5
Home & Family Group

»   2008 Sales $2.7 billion       2008 Sales Contribution
»   5 Global Business Units
»   ~15% of sales outside North                     Home &
    America                                         Family
»   Market-leading brands
                                                    41%




                                                             6
Home & Family Group

Culinary     Beauty &    Baby &      Rubbermaid   Dècor
Lifestyles    Style     Parenting   Food & Home




                                                          7
Office Products Group

»   2008 Sales $2.0 billion       2008 Sales Contribution
»   4 Global Business Units
»   ~50% of sales outside North
    America
»   Market-leading brands

                                       31%


                                   Office
                                  Products




                                                            8
Office Products Group

Fine Writing    Markers &     Everyday Writing   Technology
               Highlighters




                                                              9
Tools, Hardware & Commercial Products

»   2008 Sales $1.8 billion          2008 Sales Contribution
»   4 Global Business Units
                                    Tools,
»   ~25% of sales outside North   Hardware &
    America                       Commercial
                                   Products
»   Market-leading brands
                                       28%




                                                               10
 Tools, Hardware & Commercial Products

Construction Tools   Commercial   Industrial Products   Hardware
  & Accessories       Products        & Services




                                                                   11
 Strong, Diverse & Long-Standing
 Customer Relationships
     Mass Retail          Home Improvement           Office Superstores




                                                      Drug / Grocery
                           Specialty Retail


Commercial Distributors




                                        Department Stores




                                                                          12
Why Invest in Newell Rubbermaid?
 This is a different Newell Rubbermaid
 Through a focused strategy, Newell Rubbermaid has made demonstrable
 progress in its transformation to a best-in-class, growth-oriented
 consumer products company


 Gross Margin Expansion trend back on track
 Recent portfolio enhancements, ongoing actions to achieve best cost and
 efficiency, and disciplined cost management have positioned NWL to resume
 historical trend of gross margin expansion and profitability improvement


 Portfolio and Business Model changes set us up for future growth
 Our portfolio of strong brands, continued investments in consumer-driven
 innovation, branding and marketing, and significant opportunities for global
 expansion will help drive broad and sustainable growth when the economy
 recovers



                                                                                13
Excellent Progress in
Transforming the Business Model

            FROM                          TO

                                       Marketing
    Manufacturing Products        Brands That Matter TM
                                     To Consumers

                                     Consumer Pull
   Customer Push Marketing
                                    Demand Creation

    Commoditized Products
                               Branded, Differentiated
     Represent Significant
                                     Portfolio
       Part of Portfolio

       North American-
                              Growing Global Footprint
       Centric Footprint



                                                          14
Expanding Gross Margins and
   Improving Profitability




                              15
Resuming Trend of Gross Margin
Expansion…
                                                            Gross Margin

           40%                                                                                       +390 bps
                                                               +185 bps                                                   40%
           38%
                                          +350 bps
           36%                                                                    -240 bps

           34%
                                                                                                    36.7%
                                                             35.2%
           32%
                                          33.4%                                 32.8%
           30%

           28%        29.9%*
           26%

           24%
                        2005                2006               2007                2008          Q3 YTD 2009          Long-term
                                                                                                                        Target

* As reported in 2005 annual report. In subsequent year reports, 2005 numbers were adjusted to reflect impact of divestitures.




                                                                                                                                  16
…and Improving Profitability

                                                        Operating Margin

                                                              +120 bps                               +320 bps
          15%

          14%                             +210 bps                                                                       15%
          13%

          12%
                                                                                  -330 bps
          11%                                                                                      12.8%
                                                             12.9%
          10%
                                          11.7%
            9%
                                                                                 9.6%
            8%
                       9.6%*
            7%

            6%

            5%
                        2005                2006               2007                2008          Q3 YTD 2009          Long-term
                                                                                                                        Target
* As reported in 2005 annual report. In subsequent year reports, 2005 numbers were adjusted to reflect impact of divestitures.
  See appendix for reconciliation.




                                                                                                                                  17
Drivers of Sustainable
Gross Margin Expansion

    Mix improvement, cost reductions, innovation and branding
    will drive Gross Margin expansion to 40% over next 3-5 years

»   Exit/divestiture of $500M in sales of low margin, commoditized product categories
     ▪ Exiting $300 - $400M in 2009; expect to exit/divest remainder in 2010
     ▪ Once complete, will add 200+ bps to gross margins
»   Improved product mix due to enhanced portfolio and continued investments in
    innovation and branding
»   Achieving best cost in manufacturing, sourcing, distribution and transportation
     ▪ Project Acceleration restructuring program complete by end of 2010
     ▪ $200M+ in annual cost savings upon completion
»   Resumption of top-line sales growth and higher capacity utilization
»   Expect pricing and raw materials to essentially offset going forward



                                                                                        18
Enhanced Portfolio: Exiting the Last of
Commoditized Product Lines
                      Sales by Brand Segment

         4%                                                          4%
                                         8%
                                   12%                                 12%
              20%
                                              23%
  44%                                                                       27%
                                                               57%
          32%                      57%




        2003                        2007                            2009E

               Affordable Luxury          Commercial / Industrial
               Premium Consumer           Commoditized


                                                                                  19
Driving Best Cost and Efficiency:
Project Acceleration Nearing Completion
          Rationalize manufacturing and sourcing


                     Optimize distribution & transportation network


                           Expand North American shared services


          Streamline and strengthen European structural costs

                                             Rationalize product
                                                  portfolio

   2006          2007             2008             2009            2010
    $200M+ in Annual Cost Savings by End of 2010


                                                                          20
Driving Best Cost and Efficiency:
Restructuring the Supply Chain
                                    2005      2010E

Manufacturing Facilities             80         ~40

Sourced Finished Goods              27%         50%


Nature of Suppliers           Opportunistic   Strategic


Distribution Centers                 96         ~60


Capacity Utilization                68%        85-90%


Average Size (sq ft)                145K       >350K


                                                          21
Driving Best Cost and Efficiency:
Leveraging One Newell Rubbermaid
»   Successfully implementing SAP globally
    ▪ Enables best-in-class business processes including more efficient
        management of inventories, direct and indirect spend
    ▪   North America (currently 2/3 complete) to be completed in early
        2010, Europe in 2011 and ROW in 2012
»   Created regional Shared Service Centers to leverage non-market
    facing functional capabilities
     ▪ HR, IT, Customer Service, Supply Chain and Finance
»   Implemented centralized procurement and distribution &
    transportation
»   Consolidating and co-locating offices
»   Sharing best practices and leveraging talent across the
    organization


                                                                          22
Rigorous Cost Management Provides
Greater Leverage as Top Line Rebounds
                             SG&A Expenses


                                                          14%
                                                        Reduction
        $1,200
        $1,100
        $1,000     $1,148M
         $900
         $800                             $991M
         $700
         $600
         $500
         $400
                    Q3 YTD 2008           Q3 YTD 2009


 Targeted, permanent reductions in structural SG&A to help fund increased
          investment in strategic R&D, advertising and promotion


                                                                            23
Driving Broad & Sustainable Sales Growth




                                           24
Levers for Sustainable Growth
 »   Investments in strategic SG&A are driving robust consumer-
     meaningful innovation and a healthy new product pipeline

 »   Opportunity to further leverage our Brands That Matter to gain share
      ▪ Fragmented categories
      ▪ Many competitors are not investing in innovation or branding

 »   Significant opportunities for global expansion
      ▪ Vision to increase sales outside of U.S. to 50% from ~30%
        currently

 »   Focused long-term M&A strategy will add a point or two of
     annualized growth



                                                                            25
Poised to Resume Internal Sales Growth
as the Economy Recovers

                                     Internal Sales Growth*


            5%
                                                                3%
            4%                                                  to
                                                                5%
            3%       4.7%                3.3%   3.3%
            2%

            1%

            0%
                      2006               2007   H1 2008       Long-term
                                                                Target
   * Excludes significant acquisitions



                                                                          26
#1 or #2 Market Share Positions in
Major Product Categories




                                     27
Investing in Brand Building Capability

» Consumer Driven Innovation Process
                                              Product &      Invest in
    Consumer      Insights &       Product
                                               Concept     Awareness &
  Understanding    Concepts       Invention
                                              Validation       Trial


» Building the organization
   ▪ Talent acquisition
   ▪ Training and development
   ▪ Standardizing best-in-class innovation and brand building
      processes across all GBUs

    Our investments in brand building capability provide a
    distinct competitive advantage in many of our product
                          categories


                                                                         28
Increasing Strategic Investment
in R&D and A&P

       Investment in Strategic SG&A as a Percentage of Sales


             8%
             7%                                ~8%
             6%
             5%
                             6%
             4%
             3%    4%
             2%
             1%
             0%
                  2005    2007 - 09         Long-term
                                            Projection




                                                               29
Robust Consumer-Meaningful Innovation

Rubbermaid Food Storage
» Rubbermaid Food has grown
  sales and gained market share
  on the strength of innovative
  new food storage platforms
  introduced over the past two
  years
» Unique features include:
   • Easy Find Lids™ that snap to each other and to bases
   • Common shapes that nest for compact storage
   • Produce Saver™ keeps produce fresh up to 33% longer
   • Premier™ offers stain resistance and soft seal lids
   • Lock-Its™ have locking tabs for extra security


                                                            30
Robust Consumer-Meaningful Innovation

     Culinary Lifestyles
» Our Culinary Lifestyles GBU has
 generated mid-single digit sales
 growth this year, fueled by
 exciting new product
 introductions
» The new Calphalon Unison™
 Nonstick line of premium,
 dishwasher-safe, gourmet
 cookware combines two
 revolutionary non-stick surfaces
 in the same set – Slide for easy
 release and Sear to seal in
 flavor


                                        31
 Robust Consumer-Meaningful Innovation

 Rubbermaid Commercial
        Products
» The new Rubbermaid HYGEN™
 Microfiber Cleaning System
 provides innovative solutions
 designed for proven superior
 performance in maintaining
 healthy, safe environments
  » Microfiber mops clean over 3x faster
  » Microfiber cloths clean 25% better
  » Flexi Frame mop head maximizes
    productivity
  » Comprehensive training and support
    system creates a sustainable
    competitive advantage


                                           32
Robust Consumer-Meaningful Innovation

Baby & Parenting Essentials
» Graco has gained market share
 through the successful launch of
 innovative new products that offer
 both performance and value
» The Pack 'n Play® Playard with
 Newborn Napper™ is the first ever
 playard with a separate station
 designed to cuddle your newborn
» The Newborn Napper station offers
 gentle vibration and plays music
 and nature sounds to soothe and
 comfort your baby



                                        33
International Markets Offer Significant
Sales Growth Opportunities
» Brands with <10% of global sales outside North America


» Brands with 10-50% of global sales outside North America



» Brands with >50% of global sales outside North America


                                                             34
Longer-Term M&A Strategy Supports
Higher Growth, Higher Margin Portfolio
           M&A Criteria                 Future M&A Focus Areas

»   Strong, consumer-meaningful     »   Baby & Parenting
    brands                          »   Culinary Lifestyles
»   Receptive to innovation,
                                    »   Beauty & Style
    branding and marketing
»   Global / global potential
                                    »   Office Technology
»   Strong intellectual property    »   Commercial Products
»   High market share in defined    »   Industrial Products & Services
    categories
»   Adequate scale
»   Integrated into NWL platforms
»   Synergies across NWL



                                                                         35
Financial Outlook




                    36
FY 2009 Guidance*

         Net Sales Growth                                                           Unfavorable end of -10% to -15%
                  Core Sales Decline                                                           - High single digit %
                  Product Line Exits                                                                     -4% to -6%
                  Currency Translation                                                                          -2%
                  Acquisitions                                                                                 +1%

         Gross Margins                                                                                     ~36%
                                                                                                       (+ ~350 bps)

         “Normalized” EPS                                                                             $1.27 to $1.32

         Cash Flow from Operations                                                                     $550 million

         Capital Expenditures                                                                           $150 million

* Reflects guidance communicated in Q3 2009 Earnings Release and Earnings Call on October 28, 2009. Guidance reflects management’s outlook as of the
  date given and is not being updated hereby. See appendix for reconciliation.




                                                                                                                                                       37
Strong Cash Flow Performance
Despite a Weak Sales Environment
        Operating Cash Flow ($M)

              $643M $655M                                                          »     Generated $416M of operating
    $700                                                                                 cash flow during Q3 YTD 2009
                                                            $550M
    $600
                                             $455M
                                                                                   »     Expect >$100M in cash from
    $500
                                                                                         improved working capital
                                                                                         management, primarily due to
    $400                                                                                 lower inventories
    $300                                                                           »     Three day year-over-year
    $200                                                                                 improvement in inventory days

    $100                                                                           »     FY09 forecast includes $100M
                                                                                         in restructuring cash payments
       $0
                2006           2007           2008         2009E*


* Reflects guidance communicated in Q2 2009 Earnings Release and Earnings Call on October 28, 2009. Such guidance is neither affirmed nor updated hereby.




                                                                                                                                                            38
Strong Cash and Solid Liquidity Position

» Sufficient liquidity to satisfy all debt maturities until 2013 without
  need to access the capital markets
   » $313M cash at September 30, 2009
   » Strong projected operating cash flows
   » Investment grade credit rating
» Near-term primary use of cash is debt reduction
   » We are committed to regaining a solid investment grade ratings profile
   » Target Debt/EBITDA level of 2.5x – 3.0x
» Long-term goals
   » Pursue strategic acquisitions
   » Maintain dividend payout ratio in line with peers



                                                                              39
Long-Term Post-Recession Outlook

Annual Growth

  Internal Sales:                +3% to +5%

  Earnings per Share:            +Double digits

Margin and SG&A Investment Model
  Gross Margin:                  Margin expansion to 40% over next
                                 3-5 years

  Brand Building Reinvestment:   Approximately ½ of GM expansion

  Operating Margin:              Continued progress towards 15%




                                                                     40
Why Invest in Newell Rubbermaid?
 This is a different Newell Rubbermaid
 Through a focused strategy, Newell Rubbermaid has made demonstrable
 progress in its transformation to a best-in-class, growth-oriented
 consumer products company


 Gross Margin Expansion trend back on track
 Recent portfolio enhancements, ongoing actions to achieve best cost and
 efficiency, and disciplined cost management have positioned NWL to resume
 historical trend of gross margin expansion and profitability improvement


 Portfolio and Business Model changes set us up for future growth
 Our portfolio of strong brands, continued investments in consumer-driven
 innovation, branding and marketing, and significant opportunities for global
 expansion will help drive broad and sustainable growth when the economy
 recovers



                                                                                41
Appendix




           42
Operating Income Excluding Charges

                                                                                                                           Q3 YTD
                                                          2005             2006             2007              2008          2009


              Operating Income As
              Reported                                 $522.2*         $    656.6       $    740.3       $     200.8       $    445.6
              Add: Restructuring and
              other one time charges                  $     51.3       $     66.4       $      86.0       $    120.3       $     87.0
              Add: Impairment Charges                 $     34.4        $         -      $         -      $    299.4        $       -


              Operating Income
              Excluding Charges                        $607.9*         $    723.0       $    826.3        $    620.5       $    532.6

              Net Sales                                6342.5*         $ 6,201.0        $ 6,407.3        $ 6,470.6         $ 4,157.2
              Operating Income % to
              Sales                                    9.6%*             11.7%               12.9%              9.6%            12.8%




* As reported in 2005 annual report. In subsequent year reports, 2005 numbers were adjusted to reflect impact of divestitures




                                                                                                                                        43
FY 2009 Guidance for “Normalized” EPS

                                                                 FY 2009

 Diluted earnings per share:                                  $0.93 to $0.98

 Project Acceleration restructuring costs [ 1 ]               $0.28 to $0.31

 Other items, net of tax [ 2 ]                                    $0.05

 "Normalized" EPS:                                            $1.27 to $1.32




 [ 1 ] Restructuring costs include impairment charges, employee termination benefits and other
  costs associated with Project Acceleration, and the related tax effects.

 [ 2 ] Other items include dilution of approximately $0.03 per diluted share related to the conversion
  feature of the convertible notes (represents actual dilution through Q3; no provision is made for potential
 dilution in Q4) and one-time costs of approximately $0.01 per diluted share incurred for the early retirement
 of $325 million principal amount of medium-term notes and $0.01 per diluted share of other tax adjustments.




                                                                                                                 44

				
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