Dividend Declaration

Caterpillar Inc
13 October 2004

                                                                October 13, 2004
FOR IMMEDIATE RELEASE

                    Caterpillar Inc. Maintains Dividend Rate

PEORIA, Ill. - Caterpillar Inc. (NYSE: CAT) today declared a quarterly cash
dividend of forty-one cents ($0.41) per share on its common stock, payable
November 20, 2004 to stockholders of record at the close of business October 25,
2004. This maintains the dividend rate declared for the previous quarter.

'We are pleased to continue to pay dividends at this rate and demonstrate our
ongoing commitment to providing long-term shareholder value,' said Chairman and
Chief Executive Officer Jim Owens.


Caterpillar contact:

Kelly Wojda
Corporate Public Affairs
[phone]
[e-mail]


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