Snapon.com Reports Successful First Year of Service; Snap-on Ranks Fourth in InformationWeek 500

KENOSHA, Wis.--(BUSINESS WIRE)--Sept. 24, 2001--With www.snapon.com, Snap-on Tools Company celebrates its first anniversary in online retailing, in which it extended its reach to new and existing customers and created regular customer referrals to Snap-on's dealer network. Snap-on has since expanded the scope of the snapon.com store to Canada, began offering, for the first time online, apparel and other Snap-on identified merchandise, and plans further enhancements.

As snapon.com reached its one-year anniversary, more than 70,000 customers have registered on the site, plus another 4,880 industrial accounts. On average, the site records 5,000 visits per day, with a total number of daily hits running between 110,000 to 112,000. The 22:1 ratio of hits to visits means that the average visitor moves well beyond the home page.

According to Michael Montemurro, Snap-on senior vice president and president - worldwide Snap-on dealer group, the site has improved communications with new and existing customers. "Every day, snapon.com is generating sales, while also providing our dealer channel with a steady supply of referrals and customer requests," Montemurro said.

On the industrial side, Snap-on's online business-to-business (B2B) system has grown exponentially, noted Don Broman, vice president

• industrial. "Our goal of bringing 3,000 industrial customers online in 2001 has already been exceeded. Our B2B system is an extension and enhancement of our sales force. Customers still receive the same personal and regular service, but now have the ability to order products online 24 hours a day, 7 days a week, 365 days a year," Broman said.

Online Marketing Efforts

In addition to selling tools and identifying new customers, Snap-on uses the site as an important marketing tool, said Al Biland, vice president - chief information officer and president, diagnostics and information group. Biland, who led development efforts for the site in 2000, noted that Snap-on launched in May 2001 the online Snap-on eNews, a monthly publication targeted to Snap-on's online customers. The e-newsletter updates customers on new products, special offers, motorsports events and activities, and Web site developments.

Year-two Innovations and Enhancements

For snapon.com's second year, the company plans to include new product categories, extend sales to select regions globally, offer dealers their own Web site program and continue to enhance the site's content and presentation.

Snap-on Ranks Fourth in InformationWeek 500

Snap-on's overall technology efforts were recently recognized in the annual InformationWeek 500 ranking. Topping the manufacturing category for the third year in a row, Snap-on ranked fourth overall. According to InformationWeek magazine, "to obtain a spot in this annual ranking, companies must demonstrate a pattern of technological, procedural and organization innovation." This announcement came only a few months after Snap-on was also included in the InternetWeek 100, a listing of the top 100 e-businesses in the United States. The InternetWeek survey is based on an extensive study of the performance and practices of Internet-enabled businesses.

Snap-on Tools Company is a subsidiary of Snap-on Incorporated (NYSE: SNA), a leading global developer, 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 products, diagnostics software and other solutions for transportation-service, industrial, government, education and agricultural customers, and other commercial applications, including construction and electrical. Products are sold through its franchised dealer van, company direct sales and distributor channels, and the Internet. Founded in 1920, Snap-on is a $2.2 billion, S&P 500 company headquartered in Kenosha, Wisconsin, and employs approximately 14,000 people worldwide.

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