Cummins Inc. hires Susan Carter as vice president – corporate controller

COLUMBUS, Ind., March 13, 2002 — Cummins Inc. has announced that Susan Carter will join Cummins as Vice President – Corporate Controller, effective March 18, 2002.

Carter will replace Bob Crane, a 25-year veteran of Cummins, who will retire in April. Crane announced his intentions to retire earlier in the year after a long and successful career at Cummins.

Ms. Carter brings a wealth of experience and capability to the controller role. She joins Cummins after serving in a variety of senior finance and accounting roles of increasing responsibility at Honeywell Inc. Carter joined Honeywell in 1996 and progressively rose to her most recent position as Vice President and Chief Financial Officer, Transportation and Power Systems.

Carter has been in the manufacturing sector for many years in a variety of financial and leadership positions. Prior to joining Honeywell, she was employed by the Crane Company from 1989 to 1996, where she served as Controller for Crane Valve Group North America. Carter also has eight years of experience from the DeKalb Corporation where she served as Senior Internal Auditor and Controller of their Equipment Leasing Group.

Carter holds a BS in Accounting from Indiana University and an MBA from Northern Illinois University. She is also a Certified Public Accountant.

Crane joined Cummins in 1977 and has served in many financial leadership positions around the world. Crane has been the Vice President- Corporate Controller since February 2000. He will work closely with Ms. Carter over the next several weeks to ensure a smooth transition.

A global power leader, Cummins Inc., is a corporation of complementary business units that design, manufacture, distribute, and service electrical power generation systems, engines, and related technologies, including fuel systems, controls, air handling, filtration, and emissions solutions.