David B. Speer, ITW Chairman and Chief Executive Officer, Elected to Deere & Company Board of Directors

    MOLINE, Ill., Oct. 29 /CNW/ -- Deere & Company (NYSE:   DE) announced today
that its board of directors has elected David B. Speer to the board, effective
15 November 2008. David Speer is the chairman and chief executive officer of
Illinois Tool Works Inc. -- a premier company that produces engineered
fasteners and components, equipment and consumable systems, and specialty
products. It employs nearly 60,000 people in 825 business units, and is based
in Glenview, Illinois, with operations in 52 countries.
    "As leader of a global enterprise with significant manufacturing
capabilities, David has the breadth of experience to bring valuable insight
and guidance to Deere as it continues to grow all across the world," said
Robert W. Lane, chairman and chief executive officer of Deere & Company. "John
Deere is fortunate that David has agreed to join the Deere & Company Board of
    Speer has a noteworthy record of management responsibility and executive
leadership at ITW, where he was named chairman in May 2006 after being elected
chief executive officer in August 2005. He had served as president since
August 2004.
    Speer is a member of the Board of Directors of Rockwell Automation and
the Board of Trustees of Northwestern University. He is on the Boards of the
Chicago Council on Global Affairs, the Executives' Club of Chicago, Rush
Medical Center, the Museum of Science and Industry, the Economic Club of
Chicago and Junior Achievement of Chicago. He is also a member of The
Commercial Club and The Business Council.
    David Speer joined ITW in 1978 after earning his Masters in Business
Administration from The Kellogg School of Business, Northwestern University in
1977. He previously had graduated from Iowa State University in 1973 with a
Bachelor of Science degree in Industrial Engineering.
    The Deere Board has elected Speer to serve on its compensation and
pension plan oversight committees. The Deere & Company Board of Directors will
now total 14 members, 13 of whom are independent with the addition of David
Speer. They include:

    --  Crandall C. Bowles, Chairman, Springs Industries, Inc.;
    --  Vance D. Coffman, Retired Chairman, Lockheed Martin Corporation;
    --  T. Kevin Dunnigan, Retired Chairman, Thomas & Betts Corporation;
    --  Chad Holliday, Chairman and Chief Executive Officer, DuPont;
    --  Dipak C. Jain, Dean, Kellogg School of Management, Northwestern
    --  Clayton M. Jones, Chairman, President and CEO, Rockwell Collins;
    --  Arthur L. Kelly, Managing Partner, KEL Enterprises L.P.;
    --  Antonio Madero B., Chairman and Chief Executive Officer, SANLUIS
        Corporacion S.A. de C.V.;
    --  Joachim Milberg, Chairman, Supervisory Board, Bayerische Motoren
        Werke (BMW) AG;
    --  Richard B. Myers, Retired Chairman of the U.S. Joint Chiefs of Staff;
    --  Thomas H. Patrick, Chairman, New Vernon Capital, LLC; and
    --  Aulana L. Peters, Retired Partner, Gibson, Dunn & Crutcher LLP.

    John Deere (Deere & Company - NYSE:   DE) is the world's leading provider
of advanced products and services for agriculture and forestry and a major
provider of advanced products and services for construction, lawn and turf
care, landscaping and irrigation. John Deere also provides financial services
worldwide and manufactures and markets engines used in heavy equipment. Since
it was founded in 1837, the company has extended its heritage of integrity,
quality, commitment and innovation around the globe.

For further information:

For further information: Ken Golden, Director, Strategic Public
Relations of Deere & Company, +1-309-765-5678; Web Site: http://www.deere.com

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