Snap-on Incorporated Appoints Michael F. Montemurro President - Worldwide Snap-on Dealer Group

KENOSHA, Wis.--(BUSINESS WIRE)--Nov. 7, 2000--Snap-on Incorporated (NYSE: SNA) announced today that Michael F. Montemurro was appointed president - Snap-on Dealer Group. He is responsible for the successful operation of the Snap-on franchised dealer business in the United States, Canada, Mexico, the United Kingdom, Japan, Australia, and other regions of the world. Montemurro will continue in his current role as senior vice president for Snap-on Incorporated.

"The Dealer Group represents Snap-on's heritage business and is critical to the company's future. We are committed to the long-term success of our dealers and the quality, value and knowledge they deliver to the marketplace," said Robert A. Cornog, Snap-on chairman, president and chief executive officer. "This appointment reinforces that ongoing commitment."

Montemurro joined Snap-on in 1971 and has been an officer of the corporation since 1979, serving in various capacities including treasurer, vice president of marketing services, chief financial officer, and senior vice president of financial services and administration. He was elected to his current position as senior vice president in 1998.

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, government, education, agricultural and other commercial applications, including construction and electrical. Products are sold through its franchised dealer van, company direct sales and distributor channels. Founded in 1920, Snap-on is a $2+ billion, S&P 500 company headquartered in Kenosha, Wisconsin and employs approximately 14,000 worldwide. For additional information, visit www.snapon.com.

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