Snap-on's Franchise Opportunity Recognized in Recent Rankings

KENOSHA, Wis., Mar 25, 2002 (BUSINESS WIRE) -- Snap-on Incorporated (NYSE: SNA), known for having one of the finest brands in American business, is also being recognized for offering one of the best franchise opportunities.

In two separate publications, Snap-on ranks among the leaders in the franchise industry. For the eighth year in a row, Entrepreneur magazine has placed Snap-on in the top 20 in its rating of the 500 leading franchise opportunities. Snap-on earned the No. 14 spot in Entrepreneur's Franchise 500(R). In the Franchise Times, Snap-on was ranked No. 32 in its Top 200 franchise chains report.

Entrepreneur recognized Snap-on with additional honors with a No. 1 ranking in the "hardware retailing" category and a No. 2 ranking in the Home-Based Franchise listing. Snap-on also was listed among Entrepreneur's top 15 global franchises.

"The credit for this recognition goes to our dedicated and knowledgeable dealers who have helped build our strong franchise network," said Michael F. Montemurro, senior vice president and president - worldwide Snap-on dealer group. "Customers choose Snap-on because of our strong brand equity and high-quality product and service offerings. Snap-on dealers bring products to customers that provide opportunity for increased productivity and profitability."

Snap-on offers a wide range of new product and service solutions coupled with affordable credit programs. "For more than 80 years, Snap-on dealers have enjoyed a unique opportunity to develop relationships with customers and work with them to build the capabilities they need," Montemurro said.

    The rankings were compiled based on 2001 data.

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 13,500 people worldwide.

CONTACT:          Snap-on Incorporated
                  Richard Secor, 262/656-5561 (Media contact)
                  Bill Pfund, 262/656-6488 (Investor contact)

URL:              www.snapon.com
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