Snap-on Incorporated Announces $200 Million Bond Offering

KENOSHA, Wis.--(BUSINESS WIRE)--Aug. 14, 2001--Snap-on Incorporated (NYSE: SNA) announced today the offering of $200 million principal amount of 6.25% senior notes due August 15, 2011. Snap-on expects to use the proceeds to reduce short-term debt and for other general corporate purposes. The notes are rated A1 by Moody's Investor Service and A+ by Standard & Poor's. The offering is scheduled to close August 17, 2001. Banc One Capital Markets, Inc. and Salomon Smith Barney Inc. are the joint lead managers for the offering.

This notice does not constitute an offer to sell or the solicitation of an offer to buy securities.

Snap-on Incorporated is a leading global developer, manufacturer and marketer of tool, diagnostic and equipment solutions for professional tool users. Product lines include hand and power tools, diagnostics and shop equipment, tool storage products, diagnostics software and other solutions for transportation-service, industrial, government, education and agricultural customers, and other commercial applications, including construction and electrical. Products are sold through its franchised dealer van, company direct sales and distributor channels, and the Internet. Founded in 1920, Snap-on is a $2.2 billion, S&P 500 company headquartered in Kenosha, Wisconsin, and employs approximately 14,000 people worldwide.

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