Wed Mar 29, 2000 -

CLEVELAND, OHIO…Eaton Corporation announced today that it has entered into a Subscription Agreement to sell, outside the United States, Euro 200 million of 6 percent notes due March, 2007. The offering is expected to be completed on March 30, 2000. Net proceeds from the sale of the notes will be used to reduce outstanding commercial paper that was issued in connection with Eaton's 1999 acquisition of Aeroquip-Vickers, Inc.

The notes will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States.