Snap-on Increases Quarterly Dividend 11.1%

Quarterly dividend increases to $0.30

KENOSHA, Wis.--(BUSINESS WIRE)--Nov. 1, 2007--The Snap-on Incorporated (NYSE: SNA) board of directors declared today a quarterly common stock dividend of $0.30 per share payable December 10, 2007 to shareholders of record on November 19, 2007. This represents an increase of 11.1% over Snap-on's previous quarterly dividend of $0.27 per share. Snap-on has paid consecutive quarterly cash dividends, without interruption or reduction, since 1939.

"We believe our dividend is an important component of total return to our shareholders. This increase in Snap-on's quarterly dividend underscores our commitment to create superior long-term value for our shareholders and reflects both our current performance as well as our confidence in Snap-on's future," said Jack D. Michaels, Snap-on chairman and chief executive officer. "By building on the improvement initiatives already underway, and with a strong management team in place, we believe we are well-positioned to drive profitable growth over the long term."

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 dealerships and repair centers, as well as customers in general industry, energy and natural resources, aerospace, 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 $2.7 billion, S&P 500 company headquartered in Kenosha, Wisconsin.

Forward-looking Statements

Statements in this news release that are not historical facts, including statements (i) that include the words "expects," "plans," "targets," "estimates," "believes," "anticipates," or similar words that reference Snap-on or its management; (ii) specifically identified as forward-looking; or (iii) describing Snap-on's or management's future outlook, plans, estimates, objectives or goals, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Snap-on cautions the reader that this news release contains statements, including earnings projections, that are forward-looking in nature and were developed by management in good faith and, accordingly, are subject to risks and uncertainties regarding Snap-on's expected results that could cause (and in some cases have caused) actual results to differ materially from those described in any such statement. The company's actual results may differ materially from those described or contemplated in the forward-looking statements. Factors that may cause the company's actual results to differ materially from those contained in the forward-looking statements include those found in the company's reports filed with the Securities and Exchange Commission, including the information under the "Safe Harbor" and "Risk Factors" headings in its Annual Report on Form 10-K for the fiscal year ended December 30, 2006, which are incorporated herein by reference. Snap-on disclaims any responsibility to update any forward-looking statement provided in this news release, except as required by law.

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

CONTACT: Snap-on Incorporated
Media contact:
Richard Secor
262/656-5561
or
Investor contact:
Martin Ellen
262/656-6462

SOURCE: Snap-on Incorporated