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:   Wednesday, April 2, 2003

Subject:   Black & Decker Affirms Comfort with Consensus  Earnings  Estimate for
           First Quarter 2003

Towson, MD - The Black & Decker  Corporation (NYSE: BDK) today announced that it
expects diluted  earnings per share will meet or exceed the analysts'  consensus
estimate of $0.43 for the first quarter of 2003.

     Nolan D.  Archibald,  Chairman  and  Chief  Executive  Officer,  commented,
"Although  weak economic  conditions  will result in  first-quarter  sales being
lower  than  we  had  expected,   stronger  operating  margins,  driven  by  our
restructuring   program,   will  enable  us  to  deliver  earnings  improvement.
Therefore,   we  are  comfortable  with  the  current  consensus   estimate  for
first-quarter earnings."

     The  Corporation  will  present  today and tomorrow in New York at investor
conferences   sponsored  by  Deutsche  Bank   Securities  and  Banc  of  America
Securities,  respectively.  Investors  can  listen  to  these  presentations  by
visiting www.bdk.com and clicking on the icon labeled "Live Webcast." Replays of
the presentations will be available at www.bdk.com through the close of business
on  April  18,  2003.  The  Corporation  will  release  details   regarding  its
first-quarter  2003  results  and  the  outlook  for  the  remainder  of 2003 on
Thursday, April 24, 2003.
                                     (more)





Page Two

     This  release  includes  forward-looking  statements  within the meaning of
Section 27A of the  Securities  Act of 1933 and  Section  21E of the  Securities
Exchange Act of 1934. By their nature,  all  forward-looking  statements involve
risks  and  uncertainties.  For a more  detailed  discussion  of the  risks  and
uncertainties  that may affect Black & Decker's  operating and financial results
and its  ability to achieve the  financial  objectives  discussed  in this press
release,  interested  parties  should  review the  "Forward-Looking  Statements"
sections in Black & Decker's  reports  filed with the  Securities  and  Exchange
Commission,  including  the Annual Report on Form 10-K for the fiscal year ended
December 31, 2002.

     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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