Snap-on Incorporated Declares Quarterly Dividend

KENOSHA, Wis.--(BUSINESS WIRE)--Jan. 24, 2003--The Snap-on Incorporated (NYSE:SNA) board of directors declared today a first-quarter dividend of $0.25 per share, payable March 10, 2003, to shareholders of record on February 17, 2003. Snap-on has paid consecutive quarterly cash dividends since 1939.

Snap-on Incorporated is a leading global innovator, 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, diagnostics software and other solutions for vehicle-service, industrial, government and agricultural customers, and commercial applications, including construction and electrical. Products are sold through its franchised dealer van, company-direct sales and distributor channels, as well as over the Internet. Founded in 1920, Snap-on is a $2+ billion, S&P 500 company headquartered in Kenosha, Wisconsin, and employs approximately 13,100 people worldwide.

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