Press Release

Marks 50th Consecutive Year of Increased Payout

Prospect Heights, IL - May 15, 2002 - Household International, Inc. (NYSE:HI) announced today that its Board of Directors increased the annual dividend on Household's common stock to $1.00 per share from $.88 per share, an increase of 13.6 percent. On a quarterly basis, the dividend grows to $.25 from $.22 per share. The new quarterly cash dividend will be paid July 15, 2002 to shareholders of record on June 28, 2002. Payment of the July dividend will mark the 50th consecutive year in which Household has increased its cash dividends paid to its common shareholders.

The Board also declared the following cash dividends:

• $20.625 per share, equal to $0.515625 per depositary share, on the 8 ¼ percent cumulative preferred stock, Series 1992-A (a depositary share represents ownership of one-fortieth of a full share of the Series 1992-A). This regular quarterly dividend is payable on July 15, 2002 to shareholders of record on June 28, 2002.
• $18.75 per share, equal to $0.46875 per depositary share, on the 7.50% cumulative preferred stock, Series 2001-A (a depositary share represents ownership of one-fortieth of a full share of the Series 2001-A). This regular quarterly dividend is payable on July 15, 2002 to shareholders of record on June 28, 2002.
• $20.47776 per share equal to $0.511944 per depositary share, on the 7.60% cumulative preferred stock, Series 2002-A (a depositary share represents ownership of one-fortieth of a full share of the Series 2002-A.). This dividend rate for the 7.60% preferred represents a long dividend period from the date of original issuance, March 25, 2002, through the end of the quarter, June 30, 2002. This regular quarterly dividend is payable on July 15, 2002 to shareholders of record on June 28, 2002.
• $1.25 per share on the 5.00 percent cumulative preferred stock and $2.25 per share on the $4.50 cumulative preferred stock. These regular semi-annual dividends are payable June 30, 2002 to shareholders of record on May 31, 2002.
• $2.15 per share on the $4.30 cumulative preferred stock. This regular semi-annual dividend is payable September 30, 2002 to shareholders of record on August 30, 2002.