ETN Eaton Corp New

Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announced that it has made a cash offer for the entire issued and to-be-issued share capital of domnick hunter group plc. The offer is subject to certain regulatory approvals and other conditions and the necessary level of domnick hunter shareholder acceptance. The acquisition is expected to close later this year. Eaton said that the acquisition is expected to be accretive to Eaton's earnings per share after integration costs and synergies within the first full year of integration. Traded on the London Stock Exchange, domnick hunter had 2004 revenues of $280 million. It is an international group of companies specializing in the design and manufacture of leading filtration, separation and purification products and solutions for a wide range of industries and applications. The company operates in 25 countries and employs more than 1,900 people. Eaton Corporation is a diversified industrial manufacturer with 2004 sales of $9.8 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 56,000 employees and sells products to customers in more than 125 countries. For more information, visit www.eaton.com. This announcement does not constitute, or form part of, any offer for, or any solicitation of any offer for, securities. The offer is not being made in, into or by use of the mails of, or by any means or instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States, Canada, Australia or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction. This announcement includes "forward-looking statements" relating to Eaton and the offer that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realised from the acquisition. Factors that could cause Eaton's actual results, performance or achievements to differ materially from those described in this announcement include: the inability to obtain necessary regulatory approvals or to obtain them on acceptable terms; the costs, difficulties and uncertainties related to successfully integrating domnick hunter with Eaton or realizing synergies from such integration; costs related to the acquisition; the loss of one or more key customer or supplier relationships, changes in the distribution outsourcing patterns, the costs and other effects of governmental regulation and legal and administrative proceedings, and the general economic environment of the industries in which domnick hunter operates. For additional information identifying further economic, political, currency, regulatory, technological, competitive and important factors that could cause Eaton's actual results to differ materially from those anticipated, see Eaton's filings with the United States Securities and Exchange Commission as updated from time to time. Forward-looking statements only speak as of the date on which they are made, and the events discussed herein may not occur. Eaton has no obligation to update publicly or revise forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.