Snap-on Declares Quarterly Dividend

KENOSHA, Wis. - October 22, 1999 - The Snap-on Incorporated (NYSE: SNA) board of directors declared today a fourth-quarter dividend of 23 cents per share, payable December 10, 1999, to shareholders of record on November 19, 1999. The corporation has paid consecutive quarterly cash dividends since 1939.

Snap-on Incorporated is a leading global developer, manufacturer and marketer of tool 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 the transportation service, industrial and other commercial industries. Products are sold through its franchise dealer van, company direct sales and distributor channels. Founded in 1920, Snap-on is an S&P 500 company headquartered in Kenosha, Wisconsin.

Media contact:
Richard Secor
414/656-5561