The Carlyle Group and Zodiac Complete Waterpik Acquisition

Newport Beach and Paris - The Carlyle Group and Zodiac announced today the successful completion of the previously announced going-private merger of Water Pik Technologies, Inc (Waterpik ; NYSE: PIK) with Coast Merger Corp, an entity led by Carlyle and Zodiac.

As a result of the merger, all outstanding shares of Waterpik were converted into the right to receive $27.75 per share in cash, without interest. The aggregate consideration, on a fully diluted equity basis, is approximately $380 million. Water Pik Technologies, Inc. common stock will be delisted from the New York Stock Exchange.

Franck Falézan, Managing Director, The Carlyle Group said, "We believe Water Pik Technologies has very strong assets in the two industries in which it operates. In particular, its Jandy® integrated swimming pool products are very well-positioned for long-term success. The company’s management team has a proven track record of growth and value creation through industry-leading product innovation and excellent customer service quality. We look forward to working closely with them and the rest of the company’s employees to continue to grow the business."

Jean-Marc Daillance, CEO Marine Segment, Zodiac said, "We are thrilled to see this transaction completed and to partner with Carlyle on this occasion. We share the same positive views as Carlyle on the future of the pool equipment industry and see good long-term prospects for the company. Zodiac will explore further commercial opportunities that can take advantage of the complementarities between the product lines. Zodiac expects to benefit from the strong synergies between the Water Pik Technologies and Zodiac pool equipment brands and product lines, particularly should Zodiac increase its interest in Water Pik Technologies in the future."

ING Capital LLC and Credit Suisse have provided the debt financing to the transaction. Lazard acted as financial advisor to Coast Acquisition Corp and legal advice was provided by Latham & Watkins, Atoz, Bredin Prat and Kilpatrick Stockton. JPMorgan Securities, Inc. acted as financial advisor to Water Pik Technologies, Inc. in connection with the transaction and its Board of Directors received fairness opinions from both JPMorgan Securities, Inc. and Houlihan Lokey Howard & Zukin. O'Melveny & Myers provided legal advice to Water Pik Technologies, Inc. in connection with these matters.

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About Waterpik

Water Pik Technologies, Inc. is a leading developer, manufacturer and marketer of innovative pool products and personal health care products sold under the Jandy® and Water Pik® brand names. The Company’s products are sold through a variety of channels, including home centers, mass-merchandisers, drug store chains and specialty retailers, wholesalers and contractors. Headquartered in Newport Beach, California, the Company operates eight major facilities in the United States and Canada. For more information, visit the Water Pik Technologies, Inc. web site at www.waterpik.com/ .

About Zodiac S.A.

Zodiac is an industrial company listed on the Paris Stock Exchange since 1983 with a market capitalization of approximately $3.7 billion and sales of $2.2 billion for its fiscal year ended August 31, 2005, and is planning significant growth in earnings per share for fiscal year 2006. Widely known for its inflatable boats, Zodiac is organized around five business segments: Aerosafety Systems, Aircraft Systems, Cabin Interiors, Technology and Marine. Zodiac’s Airline equipment business, which produces a variety of products from aircraft seats to fuel tanks for both civilian and military applications, represents 64% of sales. Zodiac’s Marine segment (25% of sales) includes its boat, marine equipment, pool and pool care activities. It is a leading player in the pool equipment industry worldwide following the acquisitions of Baracuda, Clearwater, Nature2, PSA and Polaris. It has strong local presence in the four key regions in the pool industry: North America, Europe, Australia and South Africa. Zodiac employs more than 15,000 people on all continents. Visit www.zodiac.com/ for additional information.

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