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Cooper Raises Annual Dividend 6% and Announces 5M Share Stock Repurchase    

10 February 2000

Cooper Industries Raises Annual Dividend 6 Percent and Announces 5 Million Share Stock Repurchase Program    

    HOUSTON, Feb. 9 -- The board of directors of Cooper
Industries, Inc. announced today that it has increased the annual
dividend rate on the Company's common stock by 8 cents per share to $1.40, or
35 cents per quarter.  This represents a 6 percent increase over the prior
quarterly dividend of 33 cents per share.  The board declared that the first
quarterly dividend at the new rate will be payable on April 3, 2000, to
shareholders of record on March 1, 2000.
    Cooper also announced today that its board of directors has authorized the
repurchase of up to 5 million shares of Cooper common stock, slightly more
than 5 percent of the Company's outstanding shares.
    "Our solid 1999 performance caps a strong five-year trend of continued
increases in earnings per share," said H. John Riley, Jr., chairman, president
and chief executive officer.
    "The strategic actions that we have taken to reshape our financial and
operating structure have considerably strengthened the Company and positioned
Cooper for continued growth.  Our shareholders should profit from these
achievements.
    "Consequently, we believe it is appropriate to immediately increase the
return for Cooper shareholders by raising our dividend," added Riley.  "In
addition, we believe that Cooper Industries' stock represents an excellent
investment opportunity, given the fundamental strength and earning power of
our businesses."
    Cooper intends to repurchase its stock from time to time in open market
transactions subject to applicable New York Stock Exchange and Securities and
Exchange Commission rules.  The repurchase program is effective immediately
and has no set termination date.
    Cooper Industries, with 1999 revenues of $3.9 billion, is a worldwide
manufacturer of electrical products, tools and hardware.  Cooper Industries is
headquartered in Houston, Texas, and employs more than 30,000 people at over
100 locations around the world.  Additional information about Cooper is
available on the Company's Internet site: http://www.cooperindustries.com.

    CONTACT:  John Breed of Cooper Industries, 713-209-8835.