Contact: Barbara B. Lucas
                                              Senior Vice President
                                              Public Affairs
                                              410-716-2980

                                              Mark M. Rothleitner
                                              Vice President
                                              Investor Relations and Treasurer
                                              410-716-3979


FOR IMMEDIATE RELEASE:  Friday, October 17, 2003

SUBJECT:  Black & Decker Announces 75% Increase in Cash Dividend


TOWSON, MD - The Black & Decker Corporation (NYSE: BDK) announced that its Board
of  Directors  declared  a  quarterly  cash  dividend  of $0.21 per share of the
Corporation's   outstanding   common  stock   payable   December  26,  2003,  to
stockholders  of record at the close of  business  on December  12,  2003.  This
amount  represents a 75% increase over the $0.12 quarterly  dividend paid by the
Corporation since 1996.

     Black & Decker is a leading global manufacturer and marketer of power tools
and accessories,  hardware and home improvement  products,  and technology-based
fastening systems.

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