Exhibit 99.1
INGERSOLL-RAND COMPANY LIMITED
Consolidated Income Statement
Fourth Quarter and Twelve Months
(In millions except per share amounts)
UNAUDITED
		Three Months		Twelve Months
		Ended December 31,		Ended December 31,
		2003	2002	2003	2002
Revenues		$  2,665.9	$  2,428.6	$  9,876.2	$  8,891.0
Cost of goods sold		1,973.3	1,854.4	7,471.0	6,786.6
Selling & administrative expenses		428.7	394.0	1,538.3	1,423.9
Restructuring charges		(1.3)	15.3	(3.2)	41.9
Operating income		265.2	164.9	870.1	638.6
Interest expense		(40.1)	(53.3)	(176.5)	(230.3)
Other income/(expense)		2.0	(4.3)	(5.9)	(25.2)
Earnings before taxes		227.1	107.3	687.7	383.1
Provision for taxes		31.1	(18.7)	94.2	17.5
Earnings from continuing operations		196.0	126.0	593.5	365.6
Discontinued operations, net of tax		1.4	57.4	51.0	95.4
Earnings before cumulative effect
	of change in accounting principle	197.4	183.4	644.5	461.0
Cumulative effect of change in
	accounting principle, net of tax	-	-	-	(634.5)
Net earnings/(loss)		$     197.4	$     183.4	$     644.5	$    (173.5)
Basic earnings per share
	- Continuing operations	$       1.13	$       0.74	$       3.47	$       2.16
	- Discontinued operations	$       0.01	0.34	$       0.30	0.57
	- Change in accounting principle	$          -	-	$          -	(3.76)
		$       1.14	$       1.08	$       3.77	$      (1.03)
Diluted earnings per share
	- Continuing operations	$       1.11	$       0.74	$       3.44	$       2.15
	- Discontinued operations	$       0.01	0.34	$       0.30	0.56
	- Change in accounting principle	$          -	-	$          -	(3.73)
		$       1.12	$       1.08	$       3.74	$      (1.02)
Average number of common
	shares outstanding:
	Basic	173.7	169.2	171.1	168.9
	Diluted	175.8	170.0	172.4	170.2
SEE ATTACHED RELEASE FOR ADDITIONAL INFORMATION