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Eaton Corp. (39BU)

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Friday 06 September, 2002

Eaton Corp.

Re Contract: Eaton to Receive $84 Million in Aeros

Re Contract: Eaton to Receive $84 Million in Aerospace Business From Boeing 

    LONDON--(BUSINESS WIRE)--Sept. 6, 2002--

               Eaton to Receive $84 Million in Aerospace
                         Business From Boeing

Diversified industrial manufacturer Eaton Corporation (NYSE:ETN)
today announced it will receive $84 million in aerospace business as a
result of the purchase of 60 C-17 cargo transport aircraft by the U.S.
Air Force. The Boeing Company, which manufactures the C-17, said it
will produce and deliver 15 aircraft per year beginning in 2004
through 2007.

Alexander M. Cutler, Eaton chairman and chief executive officer,
said, 'This award is representative of Eaton's aerospace industry
leadership in developing and providing superior high-pressure
hydraulic systems and a range of other aircraft systems, motors and
components. We are pleased to support Boeing in supplying the C-17
cargo transport for the U.S. Air Force.'

Eaton has been providing products and systems to Boeing for the
C-17 since the early 1990s. Eaton currently supplies more than 40
components and systems for the C-17. These will be provided for an
additional four years as a result of the Boeing contract award.

Eaton's Aerospace business unit serves commercial and military
aviation, aerospace, military weapons and marine markets worldwide.

In the aerospace industry, Eaton is a leading supplier of
hydraulic and electro-hydraulic pump and generator products and
integrated systems; electric motors; aircraft flap and slat systems;
fluid conveyance products and systems; nose wheel steering systems;
integrated control systems; cockpit controls; power and load
management systems; pressure sensors and fluid debris monitoring
products and systems.

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. For more information, visit www.eaton.com.

This news release contains forward-looking statements concerning
the revenues expected from the C-17 program. These statements are
subject to various risks and uncertainties, some of which are outside
the company's control. The following factors could cause actual
results to differ materially from those forward-looking statements:
changes in governmental priorities or military needs, unanticipated
technological problems or further substantial deterioration of the
economic or financial conditions in the United States. We do not
assume any obligation to update these forward-looking statements.

   Short Name: Eaton Corp.
   Category Code: CNT
   Sequence Number: 00000751
   Time of Receipt (offset from UTC): 20020905T184318+0100

                                                                                                                                                                         

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