Eaton Declares Quarterly Dividend

    CLEVELAND--July 25, 2001--Diversified industrial manufacturer Eaton Corporation's Board of Directors has declared a regular quarterly dividend of $.44 per common share, payable on August 24, 2001 to shareholders of record on August 6, 2001. Eaton has paid dividends on common shares annually since 1923.

    Eaton Corporation is a global $8 billion diversified industrial manufacturer that is a leader in fluid power systems; electrical power quality, distribution and control; automotive engine air management and fuel economy; and intelligent truck systems for fuel economy and safety. Eaton's 54,000 employees work in 29 countries on six continents. For more information, visit www.eaton.com.