Snap-on Incorporated Announces Pricing of $300 Million Debt Offering

KENOSHA, Wis.--(BUSINESS WIRE)--Jan. 9, 2007--Snap-on Incorporated (NYSE:SNA) today announced that it had priced a public offering of $300 million in floating and fixed rate notes consisting of the following:

• $150 Million - 3-year floating rate notes, priced at par, to yield three-month LIBOR plus 13 basis points



• $150 Million - 10-year senior notes with a coupon of 5.500%, priced at 99.969 to yield 5.504%

The net proceeds from this offering, which is expected to close January 12, 2007, will be used to refinance commercial paper issued to finance the November 28, 2006 acquisition of ProQuest Business Solutions.

The offering was marketed through a group of underwriters, including Citigroup Corporate and Investment Banking, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. as joint book-running managers.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities. Copies of the final prospectus relating to the offering may be obtained from Citigroup Corporate and Investment Banking, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (tel: 718-765-6732 or 1-877-858-5407; fax: 718-765-6734).

About Snap-on

Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, diagnostics and equipment solutions for professional users. Product lines include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle manufacturers, dealerships and repair centers, as well as customers in industry, government, agriculture and construction. Products are sold through its franchisees, company-direct sales and distributor channels, as well as over the Internet. Founded in 1920, Snap-on is a $2.4 billion, S&P 500 company headquartered in Kenosha, Wisconsin.

For additional information, please visit www.snapon.com.

CONTACT: Snap-on Incorporated
Investors:
Martin M. Ellen, 262-656-6462
or
Media:
Richard Secor, 262-656-5561

SOURCE: Snap-on Incorporated