Nutek Announces Production and License Agreement for TekPlate.

LAS VEGAS, Oct 23, 2003 - (BUSINESS WIRE) - Nutek, Inc. (NUTK) today announced that the TekPlate™ product is to appear on the national television series, Michael Holigan's "Your New House," seen on broadcast and cable stations by more than 2 million viewers every week.

"We recently entered into a one-year Production and License Agreement with YNH Media, LP, an operating entity of Holigan Investment Group, Ltd., which will produce a television segment to air during the Your New House 2003-2004 season," stated Ira Silverman, Marketing Director for the TekPlate™ product. "Additionally, TekPlate™ is currently available on the Michael Holigan online web store and was featured in the October 22nd edition of the Michael Holigan Newsletter which is distributed to tens of thousands of subscribers."

Silverman continued, "We feel Your New House will provide tremendous exposure to the TekPlate™; the program is aired five nights a week on the Discovery Channel and is syndicated on over 140 local broadcast stations which include ABC, CBS, Fox, NBC, UPN and the WB, along with numerous independent television stations across the United States."

Nutek President, Murray Conradie, concluded, "We see tremendous potential for this product in numerous different industries and feel the recently announced spin-off of the patented TekPlate™ product and various related licenses, marketing agreements, etc., into a subsidiary corporation, will allow owners of the shares of the subsidiary to directly benefit from this anticipated growth."

About Michael Holigan
Michael Holigan is the host of the national television series, Michael Holigan's "Your New House," seen on broadcast stations and cable by more than 2 million viewers every week. The show targets homeowners and homebuyers and promotes tips and advice on how to build, buy and remodel the home through his TV show. Sponsors include, The Home Depot, Delta Faucet Company, Kohler, Discover Card, GMC Trucks, DuPont, Countrywide Home Loans and Schlage Locks. Additional information is available at www.michaelholigan.com .

About TekPlate™
TekPlate™ is a specialty line of patented switch plate and outlet plate covers specifically designed to provide automatic illumination when the power fails. Additional information is available at www.tekplate.com .

About the Dividend
To insure receipt of the dividend certificate, the Company urges all stockholders who do not currently hold their shares of Nutek's common stock in certificate form, to immediately request, in writing, from their broker a paper stock certificate representing their shares of the Company's common stock. If you are a stockholder who has elected not to request your stock certificate or if you requested your stock certificate and have not received it by the Record Date, contact your broker promptly after the Record Date to insure that your ownership interest in Nutek common stock, as of the Record Date, is included properly on the beneficial owner list the broker is required to submit to the Company's transfer agent.

Stockholders and brokers should also note that Dividend certificates will be issued first to registered stockholders who hold their shares in certificate form in their name, and then to those beneficial stockholders identified in the beneficial owner lists submitted by the brokers.

SAFE HARBOR STATEMENT: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are "forward-looking" statements (within the meaning of the Act) and information relating to the company that is based on the company management's views, as well as assumptions made by and information currently available to the company's management. In this press release, the statements made reflect the company's current views with respect to future events, and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements.