Rockwell Automation Provides Second Quarter Outlook

MILWAUKEE--March 10, 2004--Rockwell Automation, Inc. President and CEO Keith Nosbusch will be presenting at the Smith Barney Industrial Manufacturing Conference today in New York. The company will provide an update of current conditions indicating that revenue trends continue to improve with quarter-to-date results through February showing a modest acceleration in the sales run rate, excluding the effect of currency. Accordingly, the company expects second quarter diluted EPS in the range of 35 to 38 cents.

Revenues are on track for organic growth in Fiscal 2004 of 4% to 6%, excluding the effect of currency. Full-year diluted EPS from continuing operations is expected to be near the midpoint of the $1.35 to $1.45 range, excluding the tax benefit reported in the first quarter.

The presentation will be webcast beginning at approximately 1:30 p.m. Eastern Time and will be available on the company's website at www.rockwellautomation.com.

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(R) 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, Wisconsin, the company employs about 20,000 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 and 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; epidemics; 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.