Rockwell Automation Provides Second Quarter Update and Earnings Outlook

    MILWAUKEE--March 11, 2003--Rockwell Automation, Inc. Chairman and CEO Don H. Davis, in a presentation at the Salomon Smith Barney Global Industrial Manufacturing Conference, today stated that sales in January and February excluding currency translation increased by about 4% over last year's similar period.
    Davis commented that the sales run rate for this two-month period has slowed modestly from the previous two quarters and customer demand remains sluggish. Assuming the economy continues at its current slow pace, diluted EPS for the second quarter is expected to be in the range of 23 to 26 cents.
    Davis further reaffirmed the company's expectations that its fiscal year 2003 diluted EPS will approximate $1.10. This estimate is based on the company's continuing outlook that its markets will remain generally stable and sales will be up 2% to 4% over last year.

    Rockwell Automation, Inc. is a leading global provider of industrial automation power, control and information solutions that help customers meet their manufacturing productivity objectives. The company brings together leading brands in industrial automation for Complete Automation solutions, including Allen-Bradley(R) controls and services, Dodge(R) mechanical power transmission products, Reliance Electric(TM) motors and drives, and Rockwell Software(R) factory management software. The company also is a provider of contact management technologies and applications that help companies more efficiently manage interaction with their own customers. Headquartered in Milwaukee, WI, the company employs about 22,000 people serving customers in more than 80 countries.

    This news release contains statements (including certain projections and business trends) accompanied by such phrases as "believes," "estimates," "expect(s)," "anticipates," "will," "intends" and other similar expressions, that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to economic and political changes in international markets where the Company competes, such as currency exchange rates, inflation rates, recession, foreign ownership restrictions and other external factors over which the Company has no control; demand for the market acceptance of new and existing products, including levels of capital spending in industrial markets; successful development of advanced technologies; competitive product and pricing pressures; future terrorist attacks; and the uncertainties of litigation, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.