Applica to Redeem Common Stock Rights Plan Mar 11, 2003

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Applica Incorporated announced that, as part of its focus on improving corporate governance, the board of Directors voted to terminate the company's Common Stock Purchase Rights Plan. The plan will be terminated by redeeming the rights that were issue d under the Company's Amended and Restated 1995 Common Stock Purchase Rights Agreement. The rights will be redeemed at a price of U.S. $.00001 per right, payable in cash. There is currently one right attached to each outstanding share of common stock.Th e rights are represented by the certificates for common stock and do not trade separately. Shareholders do not have to take any action to receive the redemption payment and do not have to surrender stock certificates. The redemption payment will be mail ed on or about April 1, 2003 to shareholders of record on March 24, 2003. As a result of the redemption, the rights cannot become exercisable, and the Common Stock Purchase Right Agreement will be terminated.c

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