EXHIBIT 21 INGERSOLL-RAND EXECUTES DEFINITIVE FINANCING AGREEMENT FOR $1.5 BILLION Woodcliff Lake, New Jersey (May 8, 1995) -- Ingersoll- Rand Company today announced that it has entered into a definitive financing agreement with a syndicate of lenders led by The Chase Manhattan Bank (National Association), as administrative agent, providing for aggregate borrowings up to $1.5 billion The Proceeds of the credit facility may be used by Ingersoll-Rand to provide financing for the tender offer for shares of Clark Equipment Company common stock and subsequent merger and to pay related fees, commissions and expenses.