ITW Board Approves 10 Percent Dividend Increase

    GLENVIEW, Ill., Aug. 10 The board of directors of Illinois
Tool Works Inc., at their meeting today, declared a regular
quarterly cash dividend of 22 cents per share or 88 cents per share on an
annual basis.  This quarterly increase of 2 cents per share -- 8 cents per
share annually -- represents a 10 percent increase over the current dividend
rate.  The increased dividend will be paid on Friday, October 19, 2001 to
stockholders of record Sunday, September 30, 2001.
    ITW is $10 billion diversified manufacturer of highly engineered
components and industrial systems.  The company consists of approximately 600
decentralized operations in 43 countries and employs 55,300 people.

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