Snap-on Incorporated Increases Dividend

KENOSHA, Wis. - June 25, 1999 - Snap-on Incorporated’s board of directors declared today a 4.5 percent increase in the company’s dividend on its common stock.

The new quarterly dividend will increase $.01 per share to $.23 per share, or $.92 on an annual basis. The increased dividend is payable September 10, 1999, to shareholders of record on August 20, 1999. The corporation has paid consecutive quarterly cash dividends since 1939.

Snap-on Incorporated (NYSE: SNA) is a $1.8 billion leading global developer, manufacturer, and distributor of tool and equipment solutions for professional technicians, motor service shop owners, specialty repair centers, original equipment manufacturers, and industrial tool users worldwide. Product lines include hand and power tools, diagnostics and shop equipment, tool storage products, diagnostics software, and other solutions for the transportation service and industrial industries.

Media contact:
Richard Secor
414/656-5561