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Donaldson Company Appoints PricewaterhouseCoopers LLP as New Independent Auditor

19 April, 2002
MINNEAPOLIS, Apr 19, 2002 (BUSINESS WIRE) -- Donaldson Company, Inc. (NYSE:DCI), today announced that its board of directors, at the recommendation of its audit committee, has appointed PricewaterhouseCoopers LLP as the company's independent auditor for the year ending July 31, 2002.

PricewaterhouseCoopers will replace Arthur Andersen LLP as the independent auditor for the company.

The decision to change auditors was not the result of any disagreement between the company and Arthur Andersen on any matter of accounting principles or practice, financial statement disclosure, or auditing scope or procedure. Arthur Andersen has provided quality audit services and demonstrated a high degree of professionalism.

 

    About Donaldson Company, Inc.
Donaldson Company, Inc., headquartered in Minneapolis, Minn., is a leading worldwide provider of filtration systems and replacement parts. Founded in 1915, Donaldson is a technology-driven company committed to satisfying customer needs for filtration solutions through innovative research and development. Donaldson serves customers in the industrial and engine markets including dust collection, power generation, specialty filtration, off-road equipment and trucks. More than 8,100 employees contribute to the company's success at 40 manufacturing locations around the world. In fiscal year 2001, Donaldson reported record sales of more than $1.1 billion and achieved its 12th consecutive year of double-digit earnings growth. Donaldson is a member of the S&P MidCap 400 Index and Donaldson shares are traded on the New York Stock Exchange under the symbol DCI. Additional company information is available at www.donaldson.com.

 

CONTACT:          Donaldson Company, Inc., Minneapolis
                  Rich Sheffer, 952/887-3753
                  or
                  Padilla Speer Beardsley Inc.
                  Tony Carideo, 612/455-1720

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