Eaton Signs 10-Year, $26 Million Agreement With GE to Develop Gas Turbine Engine Lubrication System

    CLEVELAND--Dec. 19, 2001--Diversified industrial manufacturer Eaton Corporation said today its Aerospace business has signed a developmental agreement with General Electric Company to provide the lubrication subsystem for the GE LV100-5 gas turbine engine. The value of the contract award is estimated at $26 million over the next 10 years.
    The GE LV100-5 is a 1,500 shaft horsepower industrialized turboshaft jet engine selected to power the U. S. Army's M2 Abrams main battle tank and the XM2001/XM2002 Crusader armored vehicle.
    Eaton will design, engineer and manufacture the lube tank subsystem, which can be used interchangeably and consists of an oil reservoir, air-oil separator, related sensors and accessories, and two fill systems to provide direct and remote fill capabilities.
    Delivery of the first development tanks will take place next year, with full-scale production slated to begin in 2003.
    In the aerospace industry, Eaton is a leading supplier of hydraulic, electro-hydraulic pump and generator products and integrated systems; electric motors; aircraft flap and slat systems; fluid conveyance products and systems; nose wheel steering systems; integrated control systems; cockpit controls; power and load management systems; pressure sensors and fluid debris monitoring products and systems. Eaton serves commercial and military aviation, aerospace, military weapons, marine and off-road markets worldwide.
    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 49,000 employees and sells products in more than 50 countries. For more information, visit www.eaton.com.
    This bulletin contains forward-looking statements concerning the revenues expected from the lubrication tank subsystem program and from other aerospace bookings. These statements are subject to various risks and uncertainties, some of which are outside the company's control. The following factors could cause actual results to differ materially from those forward-looking statements: governmental priorities, unanticipated technological problems or further substantial deterioration of economic and financial conditions in the United States. We do not assume any obligation to update these forward-looking statements.