Exhibit 99.1 MUELLER INDUSTRIES, INC. REPORTS SECOND QUARTER RESULTs MEMPHIS, Tenn., July 21 /PRNewswire-FirstCall/ -- Quarterly and Year-to-Date Earnings Harvey L. Karp, Chairman of Mueller Industries, Inc. (NYSE: MLI), today announced the Company's results for the second quarter of 2005. Net income for the second quarter was $17.2 million, or 46 cents per diluted share, which compares with $27.0 million, or 73 cents per diluted share, for the second quarter of fiscal 2004. Net sales for the three months ended July 2, 2005 were $410.5 million, compared with net sales of $380.8 million for the second quarter of 2004. The current period includes approximately $4.8 million pre-tax of interest expense (approximately 9 cents per diluted share) related primarily to the Subordinated Debentures issued in the fourth quarter of 2004. Year-to-date, the Company earned $32.4 million, or 87 cents per diluted share, on net sales of $812.2 million. This compares with net income of $45.0 million, or $1.22 per diluted share, on net sales of $726.8 million for the first half of 2004. Financial and Operating Highlights Regarding the second quarter financial results, Mr. Karp said, "Mueller's financial position remains sound. - "Operating income decreased to $25.3 million, as the precipitous increase in copper prices led to reduced margins in our copper tube and brass rod product lines. Trading as high as $1.69 per pound in June, the COMEX copper price for the second quarter of 2005 averaged $1.53 per pound compared with $1.23 per pound for the second quarter of 2004. - "Pounds of product shipped by our core product lines totaled 182.2 million in the second quarter of 2005 compared with 198.5 million for 2004. - "Our Standard Products Division posted quarterly operating earnings of $23.2 million, compared with $37.2 million in 2004. Standard Products Division's net sales were $302.4 million for the quarter, compared with $278.9 million for 2004. We realized solid results from our copper and plastic fittings businesses. However, operating profit declined on lower volume and margins in our copper tube business. The volatility of copper caused some of our customers to scale back their purchases. - "Operating income at Industrial Products Division was $7.3 million compared with $6.3 million for the second quarter of 2004. Net sales were $110.9 million in the second quarter of 2005 which compares with $105.9 million for 2004. Results at our brass rod mill decreased on lower volumes, while other product lines reported improved results. - "Mueller ended the quarter with $69 million in cash; the higher balances of accounts receivable and inventories caused by rising copper prices were readily funded with cash on-hand. - "Our current ratio remains excellent at 2.5 to 1 and our working capital is $307.8 million. - "Capital expenditures totaled $8.9 million during the first half of 2005. For the fiscal year 2005, we expect capital expenditures to be in the range of $20 to $25 million. - "Stockholders' equity has grown to $375.4 million." Business Outlook Discussing the outlook, Mr. Karp said, "The housing industry continues to show strength. Housing starts are approximately 4 to 5 percent ahead of last year. Non-residential construction is also growing, yet remains well below its peak level in 2000. Interest and mortgage rates are at very attractive levels and the general economy is growing at a robust rate. And more specifically, we have noted recent improvement in margins in our copper tube business, which is our largest business unit by far." Mueller Industries, Inc. is a leading manufacturer of copper tube and fittings; brass and copper alloy rod, bar and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic fittings and valves; refrigeration valves and fittings; and fabricated tubular products. Mueller's operations are located throughout the United States and in Canada, Mexico, and Great Britain. Statements in this release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include economic and currency conditions, continued availability of raw materials, market demand, pricing, competitive and technological factors, and the availability of financing, among others, as set forth in the Company's SEC filings. MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data)