Eaton Corporation to open automotive components assembly plant in Korea

CLEVELAND, OH.... Eaton Corporation contributed $4.2 million last year in direct grants to nearly 250 non-profit organizations across the country, according to the company's recently-released 1996 Report of Contributions. These gifts, when combined, represent the largest grant-making program in Eaton's 85-year history and include $1.2 million in grants to United Way chapters throughout the nation.

Eaton's contributions support education and community improvement in its headquarters city of Cleveland, as well as in more than 90 Eaton plant cities. Eaton's outreach to educational institutions includes:

John Carroll University - $50,000 (final payment on a $200,000 capital campaign pledge)

Baldwin-Wallace College - $25,000 (part of a $75,000 pledge for fiber optic technology)

Cleveland Public Schools - $171,000 (part of over $300,000 in pledges channeled through several area organizations)

To further community improvement, Eaton last year made the following grants:

The Cleveland Orchestra - $125,000 (completion of a $550,000 pledge) The Cleveland Clinic Foundation - $100,000 ($600,000 pledge for the Betsy de Windt Cancer Center Research Laboratory)

Cleveland Play House - $80,000 (part of a $240,000 pledge in support of the Student Festival Plays and sponsorship of The Diary of Anne Frank)

In 1996, in recognition of its growing international presence, the corporation gave its first donations outside of the United States. Eaton supported two health programs and a disaster relief campaign in Puerto Rico where the company operates seven plants and a housing loan program and elementary school projects in plant communities located in Mexico.

"Our emphasis has always been to improve the quality of life in cities where we have operating facilities or other major installations," explained Stephen R. Hardis, Eaton Chairman and Chief Executive Officer. "To that end, more than 98% of our charitable dollars support non-profits at the local level. We simply believe that we can do the most good by reaching out to our communities to develop the next generation of Eaton employees and give back to the people and places that have given so much to us."

In order to prepare students for careers in business and industry, the company has formulated a gift-giving strategy to benefit education. Grants which benefit students of all grade levels support the study of engineering, math, science and technology. They also support programs to help students overcome barriers to academic achievement such as the Marion (OH) Area Partners in Education (MAPE). MAPE is a training and support program for the area's potential workforce which is expected to reduce the drop-out and teenage pregnancy rate in the county, and increase the quality of family and community support for student learning.

Another goal is to improve the communities in which Eaton operates. To accomplish this, the company focuses on programs that promote self-sufficiency, strengthen the family, develop neighborhoods and enhance the quality of life. In addition to United Way, the company supports such programs as the Habitat for Humanity and Junior Achievement, not only with monetary contributions, but with volunteer employee support.

"As important as corporate donations undoubtedly are to furthering programs such as these," Hardis noted, "many organizations also need a different kind of help--personal involvement. That's why we encourage our employees to take an active role in philanthropy and volunteerism. I'm proud to say that Eaton employees have made a major impact all over the country, whether it has been building Habitat for Humanity homes, mentoring students, or serving on the boards of countless organizations." More than 400 volunteers gave of their time and house building talents in several Eaton communities. A corps of employee volunteers conduct classroom activities in the local school systems, teaching the economics of staying in school and implementing school-to-work programs.

For a copy of Eaton Corporation's Contributions Program Guidelines, which details the criteria for donations, please call 216-523-4835.

Eaton Corporation is a global manufacturer of highly engineered products which serve industrial, vehicle, construction, commercial and aerospace markets. Principal products include electrical power distribution and control equipment, truck transmissions and axles, engine components, hydraulic products, ion implanters and a wide variety of controls. Headquartered in Cleveland, the company has 54,000 employees and 155 manufacturing sites in 26 countries around the world. Sales for 1996 were $7 billion.



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Renald Romain