Press Release

Mac Tools Selects HSBC - North America for Business Credit Program

19 October 2004

HSBC’s Business Solutions Group’s financing program is the right tool to drive Mac Tools’ commitment to provide total customer solutions

PROSPECT HEIGHTS, IL –October 19, 2004 – HSBC - North America announced today that its business solutions group, the commercial arm of HSBC’s retail services business, has signed a multi-year, private label financing agreement with Mac Tools, a division of The Stanley Works and a leading distributor of automotive tools and equipment.  HSBC’s business solutions group will manage Mac Tools’ 35,000 commercial accounts.

The new Mac Card® financing program allows Mac Tools distributors to offer their customers competitive financing terms on Mac Tools products, services and accessories.  Mac Card® account holders will benefit from quick credit decisions, dedicated credit lines, increased buying power and affordable payments.

“We are pleased to be partnering with Mac Tools,” said Brian Zempel, managing director for HSBC’s business solutions group.  “We share Mac Tools’ commitment to building lifetime relationships with our partners and their customers, and will continue to do so by offering flexible, customized financing solutions for our business partners.”

“We are very excited about our partnership with HSBC – North America and the new solutions it brings for our distributors and consumers,” said Brian Kaner, chief financial officer for Mac Tools.  “The new Mac Card program is a demonstration of our commitment to ‘Customers for Life’ and we expect it to greatly facilitate our success in the mobile tool business.  This is really only one step towards our goal of having customers look forward to the day the Mac Tools Distributor visits their shop.”

About Mac Tools
Mac Tools is a wholly-owned subsidiary of The Stanley Works (NYSE: SWK).  A leader in the professional hand tool industry, Mac Tools has delivered the best tools in the market since 1938. Mac Tools is committed to building lifetime relationships with its distributors and consumers. Headquartered in Columbus, Ohio, Mac Tools distributes automotive tools and equipment in the United States, Canada, the United Kingdom and Japan.

About HSBC Business Solutions
HSBC Business Solutions focuses specifically on the business-to-business financing needs of North American companies that operate through distributorships, catalogs, Internet and traditional retail stores.  HSBC Business Solutions’ proprietary commercial platform is designed to deliver a successful credit program for its business clients, which include premier companies such as Best Buy, CompUSA, Costco, Menards, Northern Tool & Equipment and Sony.

About HSBC - North America
HSBC - North America includes all of HSBC's U. S. and Canadian businesses, including the former Household businesses, and has assets approaching $300 billion.  The company’s businesses in North America serve more than 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets.  Financial products and services are offered under the HSBC, HFC and Beneficial brands.  For more information, visit: www.hsbcnorthamerica.com.

• Gerry Gould
• VP – Investor Relations
• The Stanley Works
• 860-827-3833