Snap-on Incorporated Names Denis J. Loverine Vice President and Treasurer

KENOSHA, Wis., Sep 13, 2002 (BUSINESS WIRE) -- Denis J. Loverine has been named vice president in addition to his current position as treasurer for Snap-on Incorporated (NYSE: SNA), a global leader in tools, diagnostics and equipment. He has been treasurer since 1990.

Loverine joined Snap-on in 1962. In addition to his most recent responsibilities, Loverine has played a key role in driving improvements in all elements of working investment turnover for the corporation, particularly as it relates to overall inventory reduction and management. Over the past decade, he has been instrumental in centralizing various corporate services including treasury, payroll, accounts payable, insurance and travel.

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 (MR), 262/656-5561
                  or
                  William Pfund (IR), 262/656-6488

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