CLARIFICATION of BW0107 - SNAP ON - Snap-on Incorporated Declares Dividend

Business Wire, Oct 25, 1996

KENOSHA, Wis.--(BUSINESS WIRE)--Oct. 25, 1996--The following release is a clarification of a dividend announcement made earlier today:

The Snap-on Incorporated Board of Directors has declared a fourth quarter dividend of 20 cents per share, on a post-split basis, payable December 10, 1996, to shareholders of record November 19, 1996.

The dividend declaration announced earlier today reported a quarterly dividend of 30 cents per share, reflecting a pre-split amount. A three-for-two split of Snap-on Incorporated common shares occurred on September 10, 1996 for shareholders of record August 20, 1996. Snap-on has paid consecutive quarterly dividends since 1939.

Snap-on Incorporated (NYSE: SNA) is a leading global developer, manufacturer, and distributor of hand and power tools, diagnostic hardware and software, and shop equipment, and tool storage products. The company's customers include professional automotive technicians and shop owners, original equipment manufacturers, and industrial tool users worldwide.

CONTACT: Media contact:

Richard Secor

Public Relations

414/656-5561

or

Investor relations contact:

Lynn McHugh

414/656-6488