[SUNBEAM LOGO]/registered trademark/

FOR IMMEDIATE RELEASE:

       SUNBEAM ACQUIRES THREE PUBLICLY TRADED CONSUMER PRODUCTS COMPANIES:
                    COLEMAN, SIGNATURE BRANDS AND FIRST ALERT
                *****AL DUNLAP SIGNS NEW THREE YEAR CONTRACT*****

DELRAY BEACH, FL, MARCH 2, 1998 - Sunbeam Corporation (NYSE: SOC) initiated an
aggressive expansion strategy today with the announcement of the acquisitions of
three separate market leading durable consumer product companies. These
transactions will enhance shareholder value by nearly tripling the Company's
annual revenues, expanding its geographic presence, complementing its existing
product lines and leveraging operational synergies. The three transactions will
total approximately $2.5 billion and will be meaningfully accretive to Sunbeam's
earnings within twelve months. The transactions are subject to regulatory
approvals and other customary conditions and are expected to close within the
next two months.

The Coleman Company, Inc. (NYSE: CLN), with 1997 revenues of $1.1 billion is the
global leader in outdoor recreation and hardware products with powerful brands
such as Coleman/registered trademark/, Powermate/registered trademark/, Camping
Gaz/registered trademark/ and Eastpak/registered trademark/. The Company, based
in Wichita, KS, operates 17 manufacturing facilities and employs approximately
6,000 people around the world. The transaction is valued at approximately $2.0
billion, consisting of approximately $815 million in Sunbeam stock and the
balance in debt financing. Shareholders of The Coleman Company, Inc. will
receive $6.44 in cash and 0.5677 shares of Sunbeam stock for each share of
Coleman stock.

Signature Brands USA, Inc. (NASDAQ: SIGB), with 1997 revenues of $279 million,
is the North American leader in coffee makers marketed under the Mr.
Coffee/registered trademark/ brand name and is a leader in consumer health
products marketed under the Health o meter/registered trademark/ brand. The
Company, based in Glenwillow, OH, operates two manufacturing facilities and
employs approximately 1,000 people. The transaction is valued at approximately
$250 million consisting of a cash tender offer of $8.25 per SIGB share and the
assumption of existing debt.

First Alert, Inc. (NASDAQ: ALRT) with 1997 revenues of $187 million, is the
worldwide leader in residential safety equipment, including smoke and carbon
monoxide detectors. The Company, which is based in Aurora, IL, operates two
manufacturing facilities and employs approximately 2,100 people. The transaction
is valued at approximately $175 million consisting of a cash tender offer of
$5.25 per ALRT share and the assumption of existing debt.

Albert J. Dunlap, Sunbeam's chairman and chief executive officer stated, "The
successful turnaround of Sunbeam, including the dramatic improvement of the
underlying business, has provided us with a solid platform for profitable
growth. These three separate transactions


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Sunbeam
March 2, 1998
Page Two of Three

represent the next phase of our plan to create value for Sunbeam's shareholders.
We looked at various alternatives to increase shareholder value. Ultimately we
decided there is phenomenal value to be created in assuming the leadership role
in consolidating the industries in which we compete. These acquisitions enable
us to accelerate our growth rate by expanding our geographic presence, entering
new product lines and leveraging the strength of dominant brand names such as
Coleman/registered trademark/, Camping Gaz/registered trademark/,
Eastpak/registered trademark/, First Alert/registered trademark/, Mr.
Coffee/registered trademark/, and Health o meter/registered trademark/, along
with Sunbeam/registered trademark/, Oster/registered trademark/ and
Grillmaster."

Mr. Dunlap added, "Our strategy is to become the global leader in the durable
consumer products industry through continued internal growth augmented by
further strategic acquisitions of high quality consumer brands. Our proven track
record coupled with our financial strength will enable us to successfully
execute this strategy."

The Company anticipates initial synergies of approximately $150 million which
will result in a substantial EPS accretion in 1999. A one time charge is
expected in 1998 in order to restructure and consolidate these three companies
into Sunbeam.

Additionally, the Company announced that Chairman and Chief Executive Officer
Albert J. Dunlap, along with Executive Vice Presidents Russell A. Kersh and
David C. Fannin have all renewed their commitment to the Company by signing new
three year employment contracts. Mr. Kersh was named to the new position of vice
chairman of Sunbeam. Mr. Dunlap stated, "I am eager to continue to create
tremendous value for our shareholders by building the leading durable consumer
products company in the world. This new employment agreement will put to rest
any rumors that I would leave the Company."

"This is a fantastic situation for all Sunbeam shareholders giving them the
opportunity to participate in the wealth that Al Dunlap and his team are
building," said Ronald O. Perelman, who will become Sunbeam's second largest
shareholder after the transaction. "Coleman will thrive as part of Sunbeam's
unbeatable family of brands," added Mr. Perelman.

Michael Price, president and chief executive officer of Franklin Mutual Series
Fund, Sunbeam's largest shareholder, praised the transactions and new contracts.
"With the simultaneous acquisitions of these three publicly traded companies,
Sunbeam is launching into a bold new phase as the consolidator in its
industries," Mr. Price said. "Utilizing Al's unique ability to restructure and
reposition companies, the opportunities for operating synergies and incremental
sales growth is substantial. Al's renewed commitment indicates to me that the
best is yet to come for Sunbeam and its shareholders," Mr. Price added.


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Sunbeam
March 2, 1998
Page Three of Three

Morgan Stanley & Co. Incorporated acted as financial advisor to Sunbeam in all
three of the aforementioned transactions.

Sunbeam Corporation is a leading consumer products company that designs,
manufactures and markets, nationally and internationally, a diverse portfolio of
brand name products. The Company's Sunbeam/registered trademark/ and
Oster/registered trademark/ brands have been household names for generations,
both domestically and abroad, and the Company is a market leader in many of its
product categories.

CAUTIONARY STATEMENTS - Statements contained in this press release, including
statements relating to the Company's expectations regarding anticipated
performance in the future, are "forward looking statements," as such term is
defined in the Private Securities Litigation Reform Act of 1995. Actual results
could differ materially from the Company's statements in this release regarding
its expectations, goals, or projected results, due to various factors, including
those set forth in the Company's Cautionary Statements contained in its Form
10-K, filed with the Securities and Exchange Commission on March 31, 1997.

                              *********************

             THE COMPANY WILL CONDUCT A CONFERENCE CALL ON MONDAY,
                        MARCH 2, 1998 AT 2:00 P.M. EST.
                     THE CALL IN NUMBER IS (312) 470-0142. .
                               PASSWORD: SUNBEAM

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                                 Please contact:

  Media:                                               Investors:

Mari Hope                                            Rich Goudis
Hill & Knowlton                                      Sunbeam Corporation
212-885-0306                                         561-243-2142