Cummins Inc. welcomes Richard Harris as vice president – treasurer

COLUMBUS, Ind., May 16, 2003 — Cummins Inc. announced that Richard E. Harris has joined the Company as Vice President – Treasurer.

Harris brings with him extensive international experience in banking and treasury, strategic equity investing, forecasting and other treasury-related activities. He will succeed Donald Trapp, who has been named Vice President of Business Development.

Harris, who received a degree in mathematics with honors and an MBA from John Carroll University, most recently was Assistant Treasurer, Global Treasury for Compaq Computer Corporation in Houston, Texas. In that position, he was responsible for all treasury-related activities conducted outside of the United States and managed diverse treasury teams in Hong Kong, Singapore, Tokyo, Zurich and Toronto, as well as in the US for Latin America. He also directed the activities of the strategic equity investment and mergers and acquisitions teams, and established a full function Treasury department for a leading-edge Internet exchange.

Prior to joining Compaq, he held financial positions at British Petroleum and was stationed in Brussels, London and the US.

Harris and his wife, Teresa, have a son, Richard E. Harris II, a sophomore at the University of Texas, Austin, and a daughter, Taylor Beth, who is graduating from high school this spring and plans to attend either the University of Texas, Austin, or Indiana University, Bloomington.

Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves its customers through more than 500 company-owned and independent distributor locations in 131 countries and territories. With 23,700 employees worldwide, Cummins reported sales of $5.9 billion in 2002. Press releases can be found by accessing the Cummins home page at www.cummins.com.

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