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:  Thursday, February 10, 2005

Subject:  Black & Decker  Announces  33%  Increase in Cash  Dividend;  Increases
          Share Repurchase  Authorization  by 2.5 Million Shares;  Purchases 1.7
          Million Shares Year-to-Date

Towson, MD - The Black & Decker Corporation (NYSE: BDK) announced that its Board
of  Directors  declared  a  quarterly  cash  dividend  of $0.28 per share of the
Corporation's  outstanding  common stock payable March 25, 2005, to stockholders
of record at the close of  business on March 11,  2005.  This  represents  a 33%
increase  over  the  $0.21  quarterly  dividend  paid by the  Corporation  since
December 2003.

     In  addition,   the  Board  of  Directors   increased   the   Corporation's
authorization under its stock repurchase program by 2.5 million shares. Combined
with  authorization  of  approximately  2.9 million  shares  remaining as of the
beginning of the year, the increase  enables the Corporation to reduce its share
count by  nearly  5.4  million  shares  from the  level at the end of 2004.  The
Corporation has repurchased  approximately  1.7 million shares in 2005,  leaving
approximately 3.7 million shares remaining under the repurchase program.

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Page Two

     Nolan D. Archibald, Chairman and Chief Executive Officer, commented, "Black
& Decker generated $526 million of free cash flow in 2004,  setting a record for
the third year in a row. Our outstanding  cash flow enables us to return cash to
our shareholders as well as grow the business  internally and through compelling
bolt-on  acquisitions.  The Board's  decision to increase the dividend and share
repurchase  authorization  demonstrates  our  confidence  in  the  Corporation's
continuing  ability to  generate  strong  earnings  and free cash flow.  It also
reinforces our commitment to paying a competitive  dividend and  controlling our
share count."

     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.

     This release  contains a reference to free cash flow, a non-GAAP  financial
measure  within the meaning of Regulation G promulgated  by the  Securities  and
Exchange Commission.  Free cash flow for 2004 of $526.1 million is calculated by
the Corporation as cash flow from operating  activities  ($619.1 million),  less
capital expenditures ($119.4 million), plus proceeds from the disposal of assets
(excluding proceeds from business sales) ($26.4 million).  Capital  expenditures
and  proceeds  from  disposal  of  assets  include   amounts   associated   with
discontinued operations.

     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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