Eaton Quarterly Dividend Payable November 21, 2008

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CLEVELAND, OH. October 22, 2008: The Board of Directors of diversified industrial manufacturer Eaton Corporation today declared a quarterly dividend of $.50 per common share payable on November 21, 2008, to shareholders of record at the close of business on November 3, 2008.

In January of this year, Eaton announced a quarterly dividend increase of 16 percent from $.43 to $.50 per share. Eaton has paid dividends on common shares every year since 1923.