Eaton Corporation Shareholders Re-elect Four Directors, Approve Stock Plan; Director A. William Reynolds Retires

    CLEVELAND--April 24, 2002--Shareholders of diversified industrial manufacturer Eaton Corporation today re-elected four directors to new three-year terms, and approved an employee stock plan. Separately, A. William Reynolds, who had reached normal retirement age, resigned following today's meeting.
    Re-elected as directors were Ned C. Lautenbach, a partner of Clayton, Dubilier & Rice, Inc., and a director since 1997; John R. Miller, chairman, president and chief executive officer of Petroleum Partners, Inc., and a director since 1985; Furman C. Moseley, chairman of Sasquatch Books, and a director since 1975; and Victor A. Pelson, a senior advisor to UBS Warburg LLC, and a director since 1994.
    Reynolds, chief executive of the Old Mill Group, and a former chairman and chief executive officer of GenCorp Inc., had been a director since 1987.
    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 48,000 employees and sells products in more than 50 countries. For more information, visit www.eaton.com