Shrholder Lawsuits Settlement

RNS Number:9979O
Ingersoll-Rand Co
19 December 2001


Paul A. Dickard (Media Contact) 
[phone]

Joe Fimbianti (Analyst Contact) 
[phone]



               Ingersoll-Rand Reaches Settlement of Shareholder Suits

WOODCLIFF LAKE, N.J., December 19, 2001-Ingersoll-Rand Company (NYSE:IR), a 
leading diversified industrial firm, today announced that it has reached a 
settlement in principle of the two shareholder lawsuits that attempted to block 
the company's plan to change its place of incorporation from New Jersey to 
Bermuda. The two suits, one an individual action and the other a purported class
action, are proposed to be settled together as a class action, requiring notice 
to the class and court approval.

Under the reincorporation plan, which was approved Friday, December 14, by 
Ingersoll-Rand's shareholders, Ingersoll-Rand Company Limited, a newly formed 
Bermuda corporation, will become the parent company of Ingersoll-Rand Company. 
The reincorporation will be completed as planned on December 31, 2001.
      


IR is a leading innovation and solutions provider for the major global markets 
of Security and Safety, Climate Control, Industrial Productivity an 
Infrastructure. The company's diverse product portfolio encompasses such leading
industrial and commercial brands as Schlage locks and security solutions, Thermo
King transport temperature control equipment, Hussmann commercial and retail 
refrigeration equipment, Bobcat compact equipment, Club Car golf cars and 
utility vehicles, Torrington bearings and components, PowerWorks microturbines, 
and Ingersoll-Rand industrial and construction equipment. In addition, IR offers
products and services under many more premium brands for customers in industrial
and commercial markets. Further information on IR can be found on the company's 
Web site at www.irco.com.