Eaton Announces Live Webcast of First Quarter 2005 Analyst Conference Call, Reconfirms Quarterly Guidance

CLEVELAND--March 28, 2005--Eaton Corporation will host a conference call on Thursday, April 14, 2005 beginning at 10 a.m. EDT to discuss first quarter 2005 earnings results with security analysts and institutional investors.

The call will be available to interested listeners via an audio webcast that can be accessed through the Investor Relations tab on Eaton's home page at www.eaton.com. The earnings news release will be accessible beginning that day under the Corporate News heading on the Eaton home page by simply clicking on the news release.

Eaton also reconfirmed its earnings guidance for the first quarter of 2005, which it provided on January 24. The company anticipates net income per share for the first quarter to be $1.10 to $1.20. Operating earnings per share, which exclude restructuring charges to integrate recent acquisitions and joint ventures, are anticipated to be $1.15 to $1.25.

The preceding paragraph contains forward-looking statements concerning Eaton's first quarter 2005. These statements should be used with caution and are subject to various risks and uncertainties, many of which are outside the Company's control. The following factors could cause actual results to differ materially from those in the forward-looking statements: unanticipated changes in the markets for the Company's business segments; unanticipated downturns in business relationships with customers or their purchases from the Company; competitive pressures on sales and pricing; increases in the cost of material and other production costs, or unexpected costs that cannot be recouped in product pricing; the introduction of competing technologies; unexpected technical or marketing difficulties; unexpected claims, charges, litigation or dispute resolutions; acquisitions and divestitures; failure to close, or delay in the closing of, acquisitions; unanticipated difficulties integrating acquisitions; new laws and governmental regulations; interest rate changes; stock market fluctuations; and unanticipated deterioration of economic and financial conditions in the United States and around the world. Eaton does not assume any obligation to update these forward-looking statements.

Eaton Corporation is a diversified industrial manufacturer with 2004 sales of $9.8 billion. Eaton is a global leader in fluid power systems and services for industrial, mobile and aircraft equipment; electrical systems and components for power quality, distribution and control; automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety; and intelligent truck drivetrain systems for safety and fuel economy. Eaton has 55,000 employees and sells products to customers in more than 125 countries. For more information, visit www.eaton.com.