ITW Reports 16 Percent Growth in Operating Revenues for Three Months Ended August 31, 2004; Base Business Revenues Increase 9 Percent for Three Month Period; Company Maintains Third Quarter and Full-Year Earnings Forecasts

GLENVIEW, Ill., Sept. 15 /PRNewswire-FirstCall/ -- Illinois Tool Works Inc. (NYSE: ITW) today reported an operating revenue increase of 16 percent for the three months ended August 31, 2004. Operating revenues for the three month period consisted of 9 percent growth from base revenues, a 7 percent increase from acquisitions, and a 3 percent contribution from currency translation. Intercompany and Leasing and Investments reduced revenues approximately 3 percent in the three month period. Base revenues for the three month period reflected strength in August for businesses that serve the Engineered Products and Specialty Systems end markets in North America. On a manufacturing segment basis, the Company's three month moving average percentage change for operating revenues, comprised of base revenues and acquisitions, is provided below. (% change for 3 months ended August 2004 versus prior year period) August *Engineered Products/North America: + 9% *Engineered Products/International: + 29% *Specialty Systems/North America: + 18% *Specialty Systems/International: + 9% After two months of actual results in the 2004 third quarter, the Company continues to forecast a third quarter earnings range estimate of $1.05 to $1.11 for income per diluted share from continuing operations. For full-year 2004, the Company continues to maintain its earnings range estimate of $4.21 to $4.35 for income per diluted share from continuing operations. The statements regarding the Company's 2004 earnings estimates are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's third quarter and full year forecasts. These statements are subject to certain risks, uncertainties and other factors, which could cause actual results to differ materially from those anticipated. Important factors that could cause actual results to differ materially from the Company's expectations are set forth in ITW's Form 10-Q for the second quarter 2004. ITW is a $10.0 billion in revenues diversified manufacturer of highly engineered components and industrial systems. The company consists of approximately 625 decentralized operations in 44 countries and employs some 47,500 people.