CLEVELAND, OHIO…Diversified industrial manufacturer Eaton Corporation’s (NYSE:ETN) Board of Directors today declared a regular quarterly dividend of $.44 per common share, payable on August 23, 2002 to shareholders of record on August 5, 2002. Eaton has paid dividends on common shares every year since 1923.

Eaton Corporation is a global $7.3 billion diversified industrial manufacturer that is a leader in fluid power systems; electrical power quality, distribution and control; automotive engine air management and fuel economy; and intelligent truck systems for fuel economy and safety. Eaton has 48,000 employees and sells products in more than 50 countries.