3M Declares Quarterly Dividend

Tuesday, May 13, 2003 5:01 pm CDT

Dateline:

ST. PAUL, Minn.

ST. PAUL, Minn.--(BUSINESS WIRE)--3M Co. today announced a quarterly dividend of 66 cents per share, payable June 12 to shareholders of record on May 23. This is the 347th consecutive quarterly dividend on 3M stock.

As of March 31, the company had 390,833,851 common shares outstanding and 123,943 shareholders of record.

Forward-Looking Statements

This news release contains forward-looking statements that reflect current views and estimates of 3M's management of future economic circumstances, industry conditions, company performance and financial results. The statements are based on many assumptions and factors including: (1) worldwide economic conditions; (2) foreign currency exchange rates and fluctuations in those rates; (3) the timing and acceptance of new product offerings; (4) purchased components and materials, including shortages and increases in the costs of such components and materials; (5) 3M's ability to successfully manage acquisitions, divestitures and strategic alliances; and (6) legal proceedings. Any changes in such assumptions or factors could produce significantly different results.

About 3M

3M is a $16 billion diversified technology company with leading positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety, security and protection services; transportation and other businesses. Headquartered in St. Paul, Minnesota, the company has operations in more than 60 countries and serves customers in nearly 200 countries. 3M is one of the 30 stocks that make up the Dow Jones Industrial Average and also is a component of the Standard & Poor's 500 Index. For more information about 3M, go to www.3M.com/profile/pressbox/index.jhtml.

Contact:

3M, St. Paul
John Cornwell, 651/733-7698

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