EXHIBIT 99.1
INGERSOLL-RAND COMPANY
Business Review
Third Quarter and Nine Months
(In, millions except percentages)
UNAUDITED
		Three Months		Nine Months
		Ended September 30,		Ended September 30,
		2004	2003	2004	2003
Climate Control
Revenues		$     694.4	$     683.8	$  2,059.2	$  1,896.9
Operating income		78.6	67.0	228.0	147.4
	and as a % of revenues	11.3%	9.8%	11.1%	7.8%
Industrial Solutions
Revenues		398.7	348.1	1,130.0	1,002.4
Operating income		46.4	26.3	123.6	65.8
	and as a % of revenues	11.6%	7.6%	10.9%	6.6%
Infrastructure
Revenues		811.5	614.7	2,424.7	1,929.8
Operating income		99.4	59.3	326.8	217.8
	and as a % of revenues	12.2%	9.7%	13.5%	11.3%
Security & Safety
Revenues		463.4	417.4	1,320.7	1,173.2
Operating income		76.4	88.5	211.2	226.7
	and as a % of revenues	16.5%	21.2%	16.0%	19.3%
Total
Revenues		$  2,368.0	$  2,064.0	$  6,934.6	$  6,002.3
Operating income		300.8	241.1	889.6	657.7
	and as a % of revenues	12.7%	11.7%	12.8%	11.0%
Unallocated corporate expense		(22.6)	(28.3)	(67.2)	(96.6)
Consolidated operating income		$     278.2	$     212.8	$     822.4	$     561.1
	and as a % of revenues	11.7%	10.3%	11.9%	9.3%
SEE ATTACHED RELEASE FOR ADDITIONAL INFORMATION