Dividend Declaration

Caterpillar Inc
11 April 2003

FOR IMMEDIATE RELEASE




                        Caterpillar Inc. maintains dividend rate



PEORIA, Ill. - On April 9, 2003 Caterpillar Inc. (NYSE: CAT) declared a
quarterly cash dividend of thirty-five cents ($0.35) per share on its common
stock, payable May 20, 2003, to stockholders of record at the close of business
April 21, 2003.

This maintains the dividend rate declared for the previous quarter.


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