Eaton Quarterly Dividend Payable November 24, 2006

CLEVELAND--Diversified industrial manufacturer Eaton Corporation's Board of Directors today declared a regular quarterly dividend of $.39 per common share, payable on November 24, 2006 to shareholders of record at the close of business on November 6, 2006.

In July of this year, Eaton announced a quarterly dividend increase of 11 percent from $.35 to $.39 per share. Eaton has paid dividends on common shares every year since 1923.

Eaton Corporation is a diversified industrial manufacturer with 2005 sales of $11.1 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 60,000 employees and sells products to customers in more than 125 countries. For more information, visit www.eaton.com.