Eaton Declares Quarterly Dividend

    CLEVELAND--Oct. 24, 2001--Diversified industrial manufacturer Eaton Corporation's Board of Directors today declared a regular quarterly dividend of $0.44 per common share, payable on November 23, 2001 to shareholders of record on November 5, 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 has 51,000 employees and sells products in over 50 countries. For more information, visit www.eaton.com.