Herbert, Snap-on sign three-year deal

KENOSHA, Wisconsin, October 3, 2002 - Snap-on Tool Company has announced the signing of a three-year contract extension with Doug Herbert, owner-driver of the Snap-on Racing Top Fuel dragster that competes in the National Hot Rod Association's POWERade Series.

Snap-on, the largest tool company in the United States, has been Herbert's primary sponsor since 1995.

"I think the fact we are making a significant commitment, not only Doug Herbert Racing but to the sport of drag racing, speaks for itself," said Carl Johanson, Snap-on's motorsports manager. "Doug has worked closely with Snap-on's network of dealers and has been an ambassador not only for us but for the sport.

"Doug has been an important part of Snap-on Racing's program since 1992, when he first began racing Top Fuel cars, and we are pleased to be able to continue our relationship for another three years."

Herbert, from Cherryville, N.C., is elated.

"We are proud and pleased that Snap-on has shown a commitment to my team and to motorsports through the 2005 season," he said. "It's also great to be able to continue this long-running relationship and to build on it. We are very happy to be involved with such a great company."

"I can't say enough to show my appreciation and gratitude to Snap-on for having the confidence in my ability to give them the representation they want."

Herbert, 34, has seven NHRA victories in 15 career final rounds. He has one win (Sonoma, Calif., Aug. 4) and two runner-up finishes (Atlanta, Columbus, Ohio) this year. His best series finish has been seventh twice, 1999 and 2001. He is currently seventh in points.

"Our goal - like it is every year - is to bring an NHRA POWERade championship to Snap-on. We want to win races and championships. We'll see if we can win at least one championship in the next three years," added Herbert.

"I will say that everybody at Snap-on has been great to work with. I've worked with the branch managers and regional managers all over the country, plus some of the people at the world headquarters in Kenosha - Dale Elliott, Mike Montemurro, Nick Loffredo, Rich Caskey and Carl Johanson. They've always been there for me."

Herbert's resume also includes four International Hot Rod Association championships (1992, 1996-98). He spent most of the 1994 through 1996 seasons competing primarily on the IHRA circuit. He has 20 career IHRA Top Fuel victories, including five in 1992 and four in 1998.

"Both of our companies - Snap-on and Doug Herbert Racing - have solid backgrounds in NHRA and IHRA," Johanson pointed out.

Snap-on served as the IHRA series sponsor and sponsored many of that sanctioning body's events during the 1990s .

Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tool, diagnostic and equipment solutions for professional tool users. Product lines include hand and power tools, diagnostics and shop equipment, tool storage, diagnostics software and other solutions for vehicle-service, industrial, government and agricultural customers, and commercial applications, including construction and electrical.

Products are sold through its franchised dealer van, company-direct sales and distributor channels, as well as over the Internet. Founded in 1920, Snap-on is a $2-plus billion, S&P 500 company headquartered in Kenosha, Wisconsin, and employs approximately 13,500 people worldwide.

-sor-