Whirlpool Corporation Reports Record Results
Strong International Earnings Growth

Whirlpool Corporation announced today that second-quarter 2007 net sales increased 3 percent to $4.9 billion. Net earnings from continuing operations were $161 million, or $2.00 per diluted share, up approximately 60 percent from the $100 million, or $1.26 per diluted share, reported in the same period last year.

Earnings from continuing operations for the second quarter reflect strong operating profit improvement within each of the company's international business segments, the benefit from efficiencies associated with last year's acquisition of Maytag, productivity improvements, strong cost controls, favorable currency and a lower effective tax rate. Results were adversely affected by significantly higher material costs, lower industry shipments within the United States, increased brand investment and a pension curtailment charge. Each regional business increased year-over-year operating profit margins during the quarter.

"Our international businesses continue to execute extremely well and we are pleased with their financial performance through the first half of 2007," said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation. "While weak industry demand and significantly higher material prices in the United States have unfavorably impacted our results for the past year, we are positive about the trends exiting the second quarter and believe demand will begin returning to moderate growth levels in the second half of this year."

During the quarter, the company repurchased $101 million of common stock. Approximately $365 million remains under the company's $500 million share repurchase program.


   - Maytag brand completed the launch of:
     * The Centennial series washer and dryer to celebrate the 100-year
       anniversary of its first washing machine. The Centennial system
       offers retro styling with a center-knob control and metallic accents.
       The washer features a heavy-gauge steel lid, a Dependable Clean wash
       system and commercial-grade strength.
     * The Bravos high-efficiency, large-capacity top-load washer and dryer
       system. The Bravos system features an impeller wash system with
       Sensi-Care technology, Gentle Breeze drying system with IntelliDry
       sensors and a commercial-grade stainless-steel wash basket.

   - The Maytag brand also launched:
     * The new Epic washing machine with a built-in dispenser option to
       automatically dispense OxiClean® stain-fighting additive into the
       pre-wash cycle to help remove tough stains.

   - Jenn-Air brand in North America launched:
     * A complete collection of appliances in Oiled Bronze, a richly hued
       finish.  The Oiled Bronze collection is a Jenn-Air exclusive.  The
       collection includes gas and electric cooktops, wall ovens, warming
       drawers, select refrigerators and dishwashers.

   - KitchenAid brand in North America launched:
     * The Architect Series II, the latest generation of top-of-the-line
       KitchenAid appliances.  Additions to the new series include a first-
       of-its-kind, full-size wall oven with dual fan convection and steam-
       assist technology; induction cooktops; slow cook warming drawers;
       built-in refrigerators, including French Door configurations; and
       dishwasher models.

   - Whirlpool Europe launched:
     * The Whirlpool Evolution Emotion Hood with dual functionality.  In
       addition to extracting fumes, vapors and odors from the kitchen, the
       hood provides a primary or additional light source.  The hood can be
       located anywhere in the kitchen, providing flexibility in kitchen
     * The Bauknecht SuperEco energy-conserving washing machine.  The
       machine consumes approximately 40 percent less energy than
       traditional washing machines.

   - Whirlpool Latin America launched:
     * The Brastemp One Fitness microwave featuring a new rounded-design
       concept.  The microwave can fit in corners, thereby maximizing space,
       and offers an exclusive Fitness Function that prepares fish and
       vegetables by steam cooking.
     * Two new Consul brand washing machines in the Brazilian region.  The
       Consul Mare and Consul Mare Super machines come with an exclusive
       Easy Level feature that aids consumers in determining the correct
       amount of clothes, soap, rinse and water.

   - Whirlpool Asia launched:
     * The Mastermind frost-free refrigerator.  The refrigerator
       automatically adjusts its internal temperature based on the exterior
       environment and the amount of food inside the unit.


   - Whirlpool Corporation received the 2007 ENERGY STAR® Partner of the
     Year Award for Sustained Excellence from the U.S. Department of Energy
     and the U.S. Environmental Protection Agency. This award is given to a
     select group of organizations that have exhibited outstanding
     environmental leadership year after year, while sustaining product and
     marketing excellence. This unique honor represents Whirlpool
     Corporation's eighth consecutive ENERGY STAR Award.

   - Whirlpool and Habitat for Humanity together built 9 homes in 5 days for
     the second annual Building Blocks project, created by Whirlpool to
     raise awareness of the affordable housing crisis and to help eliminate
     substandard housing in the United States. The homes were built in
     Guadalupe, Arizona.

   - Whirlpool Corporation received the 2006 Cause Marketing Golden Halo
     Award for Business. The Cause Marketing Golden Halo Award is America's
     highest honor for companies and organizations that give back to the
     community through creative and effective cause marketing campaigns.
     The award recognizes Whirlpool Corporation and its Whirlpool and
     KitchenAid brands for their long-term, successful partnerships with
     Habitat for Humanity International and Susan G. Komen for the Cure.

   - Whirlpool Corporation was again recognized by DiversityInc. magazine
     for its diversity and inclusion initiatives.

   - In Europe, the Bauknecht ProTouch stainless steel surface received the
     "BMK Innovation Prize 2007" from the German federal kitchenware trade
     association.   The ProTouch surface is a specially treated stainless
     steel that resists scratches and reduces the visibility of

   - In India, Whirlpool won the Reader's Digest "Most Trusted Brand" award.


Whirlpool North America reported second-quarter revenue of $3.0 billion, down approximately 6 percent versus the year-ago period primarily due to lower OEM shipments and industry demand. As expected, industry unit shipments of major appliances (T7)** declined approximately 1 percent for the quarter and 5 percent for the first half of 2007. Industry shipment trends began to improve during the quarter, following six months of high single-digit, year-over-year declines.

Operating profit of $179 million for the quarter improved over the prior year despite significant material cost increases, primarily for base metals, component parts and steel, lower industry demand, increased brand investment in support of the Maytag launch of new innovative products and a pension curtailment charge. Acquisition efficiencies, cost-based price increases and lower administrative expense mitigated the higher costs.

Based on current economic conditions, the company continues to expect full-year 2007 U.S. industry unit shipments to decline approximately 2 to 3 percent.

Whirlpool Europe reported record second-quarter revenue and operating profit. Revenue increased 10 percent to $900 million driven by strong Whirlpool brand sales performance and the impact from innovative new product offerings. Excluding currency translation, sales increased by 3 percent. Industry demand during the quarter was estimated to have increased 2 to 3 percent.

Operating profit of $51 million increased 20 percent for the quarter and margins expanded as a favorable mix, productivity improvements and reduced benefit expenses offset higher material costs during the quarter.

Based on current economic conditions in Europe, the company continues to expect full-year industry unit shipments to increase approximately 2 to 3 percent.

Whirlpool Latin America reported record second-quarter revenue and operating profit. Revenue of $822 million grew 29 percent from last year driven by strong industry growth in appliances, favorable economic conditions in Brazil, cost-based price adjustments, and strong demand for the region's top-selling innovative brands. Excluding currency translations, sales for appliances and compressors increased approximately 18 percent. Regional unit shipments of appliances grew by 22 percent while industry unit shipments were estimated to have increased 18 percent during the quarter.

Record operating profit of $95 million increased significantly from the prior year. Higher industry demand within the region, strong productivity and price increases implemented to mitigate higher material costs drove the year- over-year improvement and increased operating profit margins to 11.6 percent.

Based on the current economic environment in Brazil, the company continues to expect full-year 2007 appliance industry shipments to increase 15 to 20 percent.

Whirlpool Asia reported sales of $163 million, an increase of 23 percent from the prior-year period. Excluding the impact of currency, sales increased approximately 13 percent. Increased operating profit during the quarter was led by very strong growth in India. The region benefited from successful new product introductions, an improved product mix and cost-based price increases implemented to mitigate higher material costs.

Based on current economic conditions in Asia, the company continues to expect 2007 industry unit shipments to increase 5 to 10 percent.

*During the first quarter of 2007, the company adopted changes to its segment reporting consistent with the methodology the chief executive officer now uses to evaluate each segment's operating and financial results. The company previously included the financial results for its Caribbean operations and exports of certain portable appliances to Europe within its North America business segment. The results for these businesses are now being reported within the Latin America and Europe segments, respectively. In addition, the company has reallocated certain costs previously included within corporate administrative expense to each of the respective regions. Regional results for 2006 have been reclassified to reflect these changes.


For the balance of the year, Whirlpool continues to expect strong performance within its international businesses. Increasing U.S. industry demand, acquisition efficiencies, productivity improvements and innovative Maytag product launches are expected to improve performance within North America during the second half of the year.

"We are addressing current U.S. industry demand trends and heightened global material costs with continued new product innovation, increased productivity throughout our global operations, as well as improving our overall mix of business and realizing implemented cost-based price adjustments," said Fettig. "We now expect to realize efficiencies in excess of $400 million from the Maytag acquisition during 2007 and continue to execute plans to revitalize Maytag's product offering and growth. Due to rising oil prices, the company now expects the combination of material and oil-related costs to increase approximately $570 million for the year."

Whirlpool continues to expect full-year 2007 earnings per diluted share from continuing operations to be in the $8.00 to $8.50 range and anticipates generating between $600 million to $650 million in free cash flow.

Cash Flow Reconciliation

The table below reconciles projected 2007 cash provided by continuing operations determined in accordance with generally accepted accounting principles (GAAP) in the United States to free cash flow, a non-GAAP measure. Management believes that free cash flow provides shareholders with a relevant measure of liquidity and a useful basis for assessing the company's ability to fund its activities and obligations. There are limitations to using non-GAAP financial measures, including the difficulty associated with comparing companies that use similarly named non-GAAP measures whose calculations may differ from the company's calculations. As defined by the company, free cash flow is cash provided by continuing operations after capital expenditures and proceeds from the sale of assets/businesses. Free cash flow does not include proceeds from the sale of Maytag businesses. The projections shown here are based upon many estimates and are inherently subject to change based on future decisions made by management and the board of directors of the company, and significant economic, competitive and other uncertainties and contingencies.

   (millions of dollars)

   Cash provided by continuing operations              $1,175-$1,225
   Capital expenditures                                    (625)
   Proceeds from sale of assets/non-Maytag businesses        50
   Free Cash Flow                                         $600-$650

  About Whirlpool Corporation

Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of approximately $18 billion, 73,000 employees, and 70 manufacturing and technology research centers around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Bauknecht and other major brand names to consumers in nearly every country around the world. Additional information about the company can be found at http://www.whirlpoolcorp.com/.

**T7 refers to the following household appliance categories: washers, dryers, refrigerators, freezers, dishwashers, ranges and compactors.

Whirlpool Additional Information:

This document contains forward-looking statements that speak only as of this date. Whirlpool disclaims any obligation to update these statements. Forward-looking statements in this document include, but are not limited to, statements regarding expected earnings per share, cash flow, productivity and material and oil-related prices, as well as expectations as to the integration with Maytag Corporation. Many risks, contingencies and uncertainties could cause actual results to differ materially from Whirlpool Corporation's forward-looking statements. Among these factors are: (1) intense competition in the home appliance industry reflecting the impact of both new and established global competitors, including Asian and European, manufacturers and the strength of trade customers; (2) Whirlpool's ability to continue its strong relationship with Sears Holding Corporation in North America (accounting for approximately 14% of Whirlpool's 2006 consolidated net sales of $18.1 billion) and other significant trade customers, and the ability of these trade customers to maintain or increase market share; (3) Whirlpool's ability to complete the integration of Maytag Corporation on a timely basis and fully realize the anticipated benefits of the merger while remaining within the current cost estimates; (4) demand for Whirlpool's products, including the strength of the U.S. building industry and the level of interest rates; (5) the ability of Whirlpool to achieve its business plans, including productivity improvements, cost control, leveraging of its global operating platform, acceleration of the rate of innovation and realization of cost-based price increases; (6) fluctuations in the cost of key materials (including steel, oil, plastic, resins, copper and zinc) and components, and the ability of Whirlpool to offset cost increases; (7) the ability of suppliers of critical parts, components and manufacturing equipment to deliver sufficient quantities to Whirlpool in a timely and cost-effective manner; (8) our ability to attract, develop and retain executives and other qualified employees; (9) changes in market conditions, health care cost trends and regulatory changes that could increase future funding obligations for pension and postretirement benefit plans; (10) the cost of compliance with environmental and health and safety regulations, including regulations in Europe regarding appliance disposal; (11) potential exposure to product liability claims, including claims that may arise through Whirlpool's regular investigations of potential quality issues as part of its ongoing effort to provide quality products to consumers; (12) the impact of labor relations; (13) Whirlpool's ability to obtain and protect intellectual property rights; (14) volatility in Whirlpool's effective tax rate; (15) the ability of Whirlpool to manage foreign currency fluctuations; (16) global, political and/or economic uncertainty and disruptions, especially in Whirlpool's significant geographic regions, including uncertainty and disruptions arising from natural disasters or terrorist attacks; and (17) risks associated with operations outside the United States. Additional information concerning these and other factors can be found in Whirlpool Corporation's filings with the Securities and Exchange Commission, including the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K.

                            WHIRLPOOL CORPORATION
                         FOR THE PERIOD ENDED JUNE 30
                 (millions of dollars except per share data)

                                        Three Months Ended  Six Months Ended
                                        ------------------ -----------------
                                          2007      2006    2007      2006
                                        --------  -------- -------  --------
  Net sales                              $4,854    $4,734  $9,243    $8,270

  Cost of products sold                   4,121     4,034   7,882     7,013
  Selling, general and administrative       463       465     838       809
  Intangible amortization                     7         9      17         9
  Restructuring costs                        16        21      33        33
                                        --------  -------- -------  --------
                                          4,607     4,529   8,770     7,864
                                        --------  -------- -------  --------
  OPERATING PROFIT                          247       205     473       406

  Interest and sundry income (expense)        2       (12)     (3)      (19)
  Interest expense                          (49)      (56)    (99)      (85)
                                        --------  -------- -------  --------
   BEFORE INCOME TAXES AND OTHER ITEMS      200       137     371       302
  Income taxes                               29        35      70        82
                                        --------  -------- -------  --------
   INTERESTS                                171       102     301       220

  Equity in (losses) earnings of
   affiliated companies                      (2)        1      (4)        2
  Minority interests                         (8)       (3)    (12)       (4)
                                        --------  -------- -------  --------
  EARNINGS FROM CONTINUING OPERATIONS       161       100     285       218

  Loss from discontinued operations, net
   of tax                                     -        (9)     (7)       (9)
                                        --------  -------- -------  --------
  NET EARNINGS                             $161       $91    $278      $209
                                        ========  ======== =======  ========
  Per share of common stock:
  Basic earnings from continuing
   operations                             $2.04     $1.28   $3.62     $3.01
  Discontinued operations, net of tax         -     (0.12)  (0.09)    (0.13)
                                        --------  -------- -------  --------
  Basic net earnings                      $2.04     $1.16   $3.53     $2.88
                                        ========  ======== =======  ========
  Diluted earnings from continuing
   operations                             $2.00     $1.26   $3.55     $2.96
  Discontinued operations, net of tax         -     (0.12)  (0.09)    (0.13)
                                        --------  -------- -------  --------
  Diluted net earnings                    $2.00     $1.14   $3.46     $2.83
                                        ========  ======== =======  ========
  Dividends declared                       $.43      $.43    $.86      $.86

  Weighted-average shares outstanding
  Basic                                    78.8      78.0    78.8      72.4
  Diluted                                  80.5      79.4    80.2      73.7

                            WHIRLPOOL CORPORATION
                            (millions of dollars)

                                                June 30,        December 31,
                                                  2007              2006
                                              -----------       -----------

  Cash and equivalents                              $343              $262
  Trade receivables, less allowances
   (2007:  $85; 2006:  $84)                        2,683             2,676
  Inventories                                      2,810             2,348
  Deferred income taxes                              374               372
  Other current assets                               656               578
  Assets of discontinued operations                  -                 240
                                              -----------       -----------
  Total Current Assets                             6,866             6,476
                                              -----------       -----------

  Investment in affiliated companies                  18                23
  Goodwill, net                                    1,760             1,663
  Other intangibles, net                           1,855             1,871
  Deferred income taxes                              534               513
  Other assets                                       176               175
                                              -----------       -----------
                                                   4,343             4,245
                                              -----------       -----------

  Land                                                90                94
  Buildings                                        1,170             1,174
  Machinery and equipment                          7,433             7,186
  Accumulated depreciation                        (5,613)           (5,297)
                                              -----------       -----------
                                                   3,080             3,157
                                              -----------       -----------
  Total Assets                                   $14,289           $13,878
                                              ===========       ===========

  Notes payable                                     $788              $521
  Accounts payable                                 3,191             2,945
  Employee compensation                              416               420
  Accrued advertising and promotions                 404               550
  Deferred income taxes                               63                74
  Accrued expenses                                   667               698
  Pension benefits                                    16                16
  Postretirement benefits                             97                97
  Restructuring costs                                119               177
  Income taxes                                        37                79
  Other current liabilities                          287               287
  Current maturities of long-term debt               137                17
  Liabilities of discontinued
   operations                                        -                 121
                                              -----------       -----------
  Total Current Liabilities                        6,222             6,002
                                              -----------       -----------

  Deferred income taxes                              313               352
  Pension benefits                                   801               838
  Postretirement benefits                          1,221             1,207
  Other liabilities                                  431               350
  Long-term debt                                   1,677             1,798
                                              -----------       -----------
                                                   4,443             4,545
                                              -----------       -----------
  MINORITY INTERESTS                                  57                48
                                              -----------       -----------
  Common stock, $1 par value:
      Shares authorized - 250 million                103               102
      Shares issued - 103 million
       (2007); 102 million (2006)
      Shares outstanding - 78 million
       (2007); 78 million (2006)
  Paid-in capital                                  1,951             1,869
  Retained earnings                                3,407             3,205
  Accumulated other comprehensive loss              (543)             (643)
  Treasury stock - 25 million shares (2007);
   24 million shares (2006)                       (1,351)           (1,250)
                                              -----------       -----------
  Total Stockholders' Equity                       3,567             3,283
                                              -----------       -----------
  Total Liabilities and Stockholders'
   Equity                                        $14,289           $13,878
                                              ===========       ===========

                            WHIRLPOOL CORPORATION
                      FOR THE SIX MONTHS ENDED JUNE 30
                            (millions of dollars)

                                                   2007              2006
                                              -----------       -----------
  Net earnings                                     $278               $209
  Loss from discontinued operations                   7                  9
                                              -----------       -----------
     Earnings from continuing
      operations                                    285                218
  Adjustments to reconcile earnings
   from continuing operations to net
   cash flows (used in) provided by
   continuing operating activities:
  Equity in losses (earnings) of
   affiliated companies, less dividends
   received                                           4                 (2)
  (Gain) loss on disposition of assets              (12)                 8
  Depreciation and amortization                     292                237
  Changes in assets and liabilities,
   net of business acquisitions:
      Trade receivables                              (9)                82
      Inventories                                  (429)              (351)
      Accounts payable                              162                 (9)
      Restructuring charges, net of
       cash paid                                    (61)                (9)
      Taxes deferred and payable, net                38                (11)
      Accrued pension                                (9)                47
      Accrued payroll and other
       compensation                                 (45)               (66)
      Other - net                                  (222)               (63)
                                              -----------       -----------
  Cash (Used In) Provided By Continuing
   Operating Activities                              (6)                81
                                              -----------       -----------
  Capital expenditures                             (202)              (233)
  Proceeds from sale of assets                       20                  6
  Proceeds from sale of Maytag adjacent
   businesses                                       100                  -
  Purchase of minority interest shares                -                (53)
  Acquisition of businesses, net of
   cash acquired                                      -               (795)
                                              -----------       -----------
  Cash Used In Investing Activities of
   Continuing Operations                            (82)            (1,075)
                                              -----------       -----------

  Net proceeds of short-term borrowings             261                198
  Proceeds from borrowings of long-term
   debt                                               3                748
  Repayments of long-term debt                       (8)              (190)
  Dividends paid                                    (68)               (62)
  Purchase of treasury stock                       (101)                 -
  Common stock issued under stock plans              51                 40
  Other                                              10                 11
                                              -----------       -----------
  Cash Provided By Financing Activities
   of Continuing Operations                         148                745
                                              -----------       -----------
  Cash Provided By Discontinued
     Operating Activities                             6                 12
     Investing Activities                             -                 (2)
                                              -----------       -----------
  Cash Provided By Discontinued
   Operations                                         6                 10
                                              -----------       -----------
  Effect of Exchange Rate Changes on
   Cash and Equivalents                              15                 16
                                              -----------       -----------
  Increase (Decrease) in Cash and
   Equivalents                                       81               (223)
  Cash and Equivalents at Beginning of
   Period                                           262                524
                                              -----------       -----------
  Cash and Equivalents at End of Period            $343               $301
                                              ===========       ===========

First Call Analyst:
FCMN Contact: angela_m_hersil@whirlpool.com

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PRN Photo Desk, photodesk@prnewswire.com

SOURCE: Whirlpool Corporation

CONTACT: Media, Monica Teague, +1-269-923-8037,
Monica.Teague@Whirlpool.com, Financial, Larry Venturelli, +1-269-923-4678
Larry.Venturelli@Whirlpool.com, both of Whirlpool Corporation