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, June 9, 2004

Subject: Black & Decker Updates EPS Guidance for Second Quarter 2004

Towson,  MD - The Black & Decker  Corporation  (NYSE: BDK) today announced that,
primarily due to strong demand in its power tools and  accessories  segment,  it
expects  to meet or  exceed  its  forecast  of mid  single-digit  sales  growth,
excluding currency translation and acquisitions, for the second quarter of 2004.
As a result,  it expects  that  second-quarter  diluted  earnings per share from
continuing  operations will meet or exceed securities analysts' mean estimate of
$1.24.  The  Corporation  reported  diluted  earnings per share from  continuing
operations of $0.96 in the second quarter of 2003.

     Nolan D.  Archibald,  Chairman  and  Chief  Executive  Officer,  commented,
"Orders and  sell-through  for our North  American  power tools and  accessories
business have been excellent so far this quarter.  Further,  our regular contact
with key  customers  indicates  that there will not be any  disruption  of order
patterns in the coming weeks. Therefore, we continue to expect outstanding sales
and earnings growth for the quarter."

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     The Corporation will discuss its second-quarter results and the outlook for
the  remainder  of 2004 during a  conference  call on  Thursday,  July 22, 2004,
following the release of its second-quarter 2004 results.  The call is scheduled
to begin at 10:00 a.m.,  E.T.,  and will be webcast  "live"  over the  Internet.
Investors can listen to the call by visiting  http://www.bdk.com and clicking on
the icon labeled "Live  Webcast." It is  recommended  that  listeners  log-in at
least ten minutes prior to the beginning of the call to assure timely access.  A
webcast replay of the conference call will be available at http://www.bdk.com.

     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, 2003.

     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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