Snap-on Incorporated Declares Quarterly Dividend

KENOSHA, Wis.--(BUSINESS WIRE)--June 24, 2003--The Snap-on Incorporated (NYSE:SNA) board of directors declared today a third-quarter dividend of $0.25 per share, payable September 10, 2003, to shareholders of record on August 20, 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 12,800 people worldwide.

For additional information on Snap-on, visit www.snapon.com

CONTACT: Snap-on Incorporated Richard Secor (Media), 262/656-5561
Bill Pfund (Investors), 262/656-6488
www.snapon.com

SOURCE: Snap-on Incorporated