The Toro Company Announces Two-for-One Stock Split; Declares Regular Quarterly Dividend

BLOOMINGTON, Minn., March 15 /PRNewswire-FirstCall/ -- The board of directors of The Toro Company (NYSE: TTC) announced it has approved a two-for- one stock split of its Common Stock, which will be effected in the form of a 100 percent stock dividend payable April 12, 2005. Holders of Toro's Common Stock will receive one additional share of Common Stock for every share held on the March 28, 2005 record date. Additionally, Toro's board of directors declared a regular quarterly cash dividend on a pre-split basis of 12 cents per share (six cents per share on a post-split basis) payable April 12, 2005 to stockholders of record March 28, 2005. As of March 15, the company has 22,411,301 common shares outstanding. As a result of the split, the number of outstanding common shares will double.

About The Toro Company:

The Toro Company (NYSE: TTC), with fiscal year 2004 sales of $1.6 billion, is a leading provider of outdoor maintenance and beautification products for home, recreation, and commercial landscapes around the world. Together with its distributors, Toro provides innovative products, agronomic expertise and exemplary service that helps consumers and professionals maintain their landscapes.

SOURCE The Toro Company
03/15/2005
CONTACT: Investor Relations, Stephen P. Wolfe, Vice President, CFO,
+1-952-887-8076, or John Wright, Director Investor Relations, +1-952-887-8865,
or Media Relations, Connie Kotke of Toro Media Relations, +1-952-887-8984,
pr@toro.com , all of The Toro Company
Company News On-Call: http://www.prnewswire.com/comp/103025.html
Web site: http://www.thetorocompany.com
(TTC)

Our Company

At The Toro Company, we take great pride in helping our customers enrich the beauty, productivity, and sustainability of the land. Founded in 1914, The Toro Company was built on a tradition of quality and caring relationships. Today, the company is a leading worldwide provider of innovative solutions for the outdoor environment including turf maintenance, snow and ice management, landscape, rental and specialty construction equipment, and irrigation and outdoor lighting solutions. Through a strong network of professional distributors, dealers and retailers in more than 125 countries, we proudly offer a wide range of products across a family of global brands to help golf courses, professional contractors, groundskeepers, agricultural growers, rental companies, government and educational institutions, and homeowners – in addition to many leading sports venues and historic sites around the world.