KENOSHA, Wis.--(BUSINESS WIRE)--Nov. 29, 2000--Snap-on Incorporated (NYSE: SNA) announced today that Robert A. Cornog, chairman, president and chief executive officer, notified its Board of Directors earlier this year of his intention to retire. The Board of Directors and Mr. Cornog have been engaged in a succession planning process for some time. A search, which includes the evaluation of both internal and external candidates, has been underway since September. Mr. Cornog has agreed to remain in his present capacity until his successor has been determined, which is expected to occur early next year.

Snap-on Incorporated is a leading global developer, manufacturer and marketer of tool and equipment solutions for professional tool users. Product lines include hand and power tools, diagnostics and shop equipment, tool storage products, diagnostics software and other solutions for the transportation service, industrial, government, education, agricultural and other commercial applications, including construction and electrical. Products are sold through its franchised dealer van, company direct sales and distributor channels. Founded in 1920, Snap-on is a $2+ billion, S&P 500 company headquartered in Kenosha, Wisconsin and employs approximately 14,000 worldwide.

For additional information on Snap-on, visit www.snapon.com or:

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