Eaton Reaches Agreement to Purchase Aerospace Fluid and Air Division of Cobham plc

The aerospace fluid and air division of Cobham plc, which is basedin Wimborne, U.K., had 2004 sales of $210 million and EBITDA of $26million. It employs 1,600 people in five manufacturing locations inthe United Kingdom and the United States.

"This acquisition will allow Eaton to capitalize on its recognizedstrengths in fluid conveyance and pump technology through theproducts, capabilities and customers of Cobham's fluid and airdivision," said Alexander M. Cutler, Eaton chairman and chiefexecutive officer.

Cobham's fluid and air division includes FR-HiTemp, which provideslow-pressure airframe fuel systems, electro-mechanical actuation, airducting and hydraulic and power generation, and Stanley Aviation,which produces fluid distribution systems for fuel, hydraulics andair.

"The purchase of Cobham's aerospace fluid and air division willstrengthen our position on commercial and defense platforms, expandour European presence and provide attractive aftermarketopportunities," said Craig Arnold, Eaton senior vice president andpresident - Fluid Power Group.

Cobham plc designs and manufactures equipment, specialized systemsand components for the aerospace, defense, homeland security, searchand rescue and communications markets. It also operates, modifies andmaintains aircraft for military and commercial purposes.

Eaton Corporation is a diversified industrial manufacturer with2004 sales of $9.8 billion. Eaton is a global leader in electricalsystems and components for power quality, distribution and control;fluid power systems and services for industrial, mobile and aircraftequipment; intelligent truck drivetrain systems for safety and fueleconomy; and automotive engine air management systems, powertrainsolutions and specialty controls for performance, fuel economy andsafety. Eaton has 57,000 employees and sells products to customers inmore than 125 countries. For more information, visit www.eaton.com.