Eaton Declares Quarterly Dividend

    CLEVELAND--Jan. 23, 2002--Diversified industrial manufacturer Eaton Corporation's Board of Directors today declared a regular quarterly dividend of $.44 per common share, payable on February 22, 2002 to shareholders of record on February 4, 2002. Eaton has paid dividends on common shares annually since 1923.
    Eaton Corporation is a global $7.3 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