Snap-on Incorporated Appoints Frank S. Ptak, ITW Inc. Vice Chairman, to Board of Directors; Snap-on Increases Quarterly Dividend

KENOSHA, Wis. - June 23, 2000 - Frank S. Ptak, a vice chairman of Illinois Tool Works Inc. (NYSE: ITW), Glenview, Ill., was appointed today to the board of directors of Snap-on Incorporated (NYSE: SNA).

Ptak, 57, joined ITW in 1975 and held various managerial positions prior to being elected executive vice president in 1992 and appointed vice chairman in 1996. ITW is a multinational Fortune 200 company which engineers and manufactures value-added fasteners, components, assemblies and systems for customers worldwide. It serves the construction, general industrial, automotive, food and beverage, food equipment, industrial capital goods, paper products, consumer durables and electronic markets. Prior to joining ITW, Ptak was with Sara Lee Corporation. Ptak is also a director of Heller Financial, Inc.

"We are very pleased that Frank Ptak has joined our board," said Robert A. Cornog, Snap-on chairman, president and chief executive officer. "He brings with him extensive business experience and knowledge in multiple industries worldwide that will benefit Snap-on in our continuing strategy to expand into such applications as construction and electrical."

The appointment of Ptak increases the Snap-on board to 12 members.

The board of directors declared today a $.01 per share increase in the company's dividend on its common stock. The new quarterly dividend represents an increase of 4.3 percent to $.24 per share, or $.96 on an annual basis. The increased dividend is payable September 11, 2000, to shareholders of record on August 21, 2000. Snap-on has paid consecutive quarterly cash dividends since 1939.

Snap-on Incorporated is a leading global developer, manufacturer and marketer of tool 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 the transportation service, industrial, government, education, agricultural, and other commercial applications, including construction and electrical. Products are sold through its franchise dealer van, company direct sales and distributor channels. Founded in 1920, Snap-on is a $2+ billion, S&P 500 company headquartered in Kenosha, Wisconsin and employs approximately 14,000 worldwide.

Media contact:
Richard Secor
414/656-5561