Exhibit 12

                               H.B. FULLER COMPANY
             Computations of Ratios of Earnings to Fixed Charges and
        Ratios of Earnings to Fixed Charges and Preferred Stock Dividends
                             (Thousands of Dollars)



                                                                                             Fiscal Year
                                                           First Half  --------------------------------------------------------
                                                              2003        2002        2001        2000       1999       1998
                                                           --------------------------------------------------------------------
                                                                                                      
Ratio of Earnings to Fixed Charges:
Earnings:
Income before income taxes, minority interests, equity
  investments and accounting change *                      $16,986       $40,312     $61,302    $ 74,770   $ 72,398     $31,562

Add:
Interest expense                                             7,883        18,389      22,379      24,918     27,907      28,050
Interest portion of rental expense                             614         1,702       1,326       1,252      1,096       1,154
Distributed earnings of 20-50% owned companies                   -             -       1,240         734          -           -
                                                           --------------------------------------------------------------------
Total Earnings Available for Fixed Charges                 $25,483       $60,403     $86,247    $101,674   $101,401     $60,766
                                                           ====================================================================

Fixed charges:
Interest on debt                                           $ 7,398       $17,559     $21,678    $ 24,296   $ 27,264     $27,811
Interest portion of rental expense                             614         1,702       1,326       1,252      1,096       1,154
                                                           --------------------------------------------------------------------
Total fixed charges                                        $ 8,012       $19,261     $23,004    $ 25,548   $ 28,360     $28,965
                                                           ====================================================================

Ratio of earnings to fixed charges                             3.2           3.1         3.7         4.0        3.6         2.1

Ratio of Earnings to Fixed Charges and Preferred
 Stock Dividends:
Total fixed charges, as above                              $ 8,012       $19,261     $23,004    $ 25,548   $ 28,360     $28,965
 Dividends on preferred stock (pre-tax basis)                    -            11          23          24         25          26
                                                           --------------------------------------------------------------------
 Total fixed charges and preferred stock dividends         $ 8,012       $19,272     $23,027    $ 25,572   $ 28,385     $28,991
                                                           ====================================================================
*Earnings available for fixed charges and preferred
  stock dividends                                          $25,483       $60,403     $86,247    $101,674   $101,401     $60,766
                                                           ====================================================================

Ratio of earnings to fixed charges and preferred
  stock dividends                                              3.2           3.1         3.7         4.0        3.6         2.1