EXHIBIT 99.1
INGERSOLL-RAND COMPANY LIMITED
Consolidated Income Statement
First Quarter
(In millions except per share amounts)
UNAUDITED
		Three Months
		Ended March 31,
		2003	2002
Revenues		$  2,198.7	$  2,017.0
Cost of goods sold		1,689.5	1,530.0
Selling & administrative expenses		343.8	325.9
Restructuring charges		-	10.2
Operating income		165.4	150.9
Interest expense		(50.1)	(59.2)
Other income/(expense)		(6.6)	(9.9)
Earnings before taxes		108.7	81.8
Provision for taxes		15.2	11.3
Earnings from continuing operations		93.5	70.5
Discontinued operations, net of tax		59.7	10.4
Net earnings before cumulative effect
	of change in accounting principle	153.2	80.9
Cumulative effect of change in
	accounting principle, net of tax	-	(634.5)
Net earnings/(loss)		$     153.2	$    (553.6)
Basic earnings per share
	- Continuing operations	$       0.55	$       0.42
	- Discontinued operations	0.36	0.06
	- Change in accounting principle	-	(3.77)
		$       0.91	$      (3.29)
Diluted earnings per share
	- Continuing operations	$       0.55	$       0.42
	- Discontinued operations	0.35	0.06
	- Change in accounting principle	-	(3.74)
		$       0.90	$      (3.26)
Average number of common
	shares outstanding:
	Basic	169.3	168.3
	Diluted	170.0	169.6
SEE ATTACHED RELEASE FOR ADDITIONAL INFORMATION