Dividend Declaration

Caterpillar Inc
22 April 2004

April 14, 2004
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                    Caterpillar Inc. Maintains Dividend Rate

PEORIA, Ill. - On April 14, 2004 Caterpillar Inc. (NYSE: CAT) declared a
quarterly cash dividend of thirty-seven cents ($0.37) per share on its common
stock, payable May 20, 2004, to stockholders of record at the close of business
April 26, 2004.

This maintains the dividend rate declared for the previous quarter.


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