Caterpillar Announces Completion of $7.5 Billion Repurchase Authorization with $1.7 Billion Accelerated Stock Repurchase Transaction

PR Newswire/Les Echos/

Caterpillar Announces Completion of $7.5 Billion Repurchase Authorization
with $1.7 Billion Accelerated Stock Repurchase Transaction

PEORIA, Ill., Jan. 30, 2014 -- Caterpillar Inc. (NYSE: CAT) today announced it
has entered into a definitive agreement with Citibank, N.A. to purchase
approximately $1.7 billion of its common stock under an accelerated stock
repurchase transaction. This repurchase is in addition to the $2 billion of
stock repurchased in 2013.

"The strength of our balance sheet and record 2013 operating cash flow enable
us to announce the completion of our current $7.5 billion stock repurchase
authorization," said Caterpillar Chairman and CEO Doug Oberhelman. "This
repurchase, combined with the new $10 billion stock repurchase program
announced on January 27, affirms our commitment to deliver superior returns to
stockholders through the cycles."

Pursuant to the agreement, Caterpillar expects immediate delivery of
approximately 18 million shares based on current market prices. The final
number of shares to be repurchased and the aggregate cost to Caterpillar will
be based on Caterpillar's volume-weighted average stock price during the term
of the transaction, which is expected to be completed in March of 2014.

The current transaction will complete the $7.5 billion repurchase authorization
originally approved by Caterpillar's Board of Directors in 2007 and set to
expire on December 31, 2015. In anticipation of the completion of the 2007
authorization, the company's Board of Directors approved a new $10 billion
stock repurchase program, which will expire on December 31, 2018.

About Caterpillar:

For nearly 90 years, Caterpillar Inc. has been making sustainable progress
possible and driving positive change on every continent. Customers turn to
Caterpillar to help them develop infrastructure, energy and natural resource
assets. With 2013 sales and revenues of $55.656 billion, Caterpillar is the
world's leading manufacturer of construction and mining equipment, diesel and
natural gas engines, industrial gas turbines and diesel-electric locomotives.
The company principally operates through its three product segments - Resource
Industries, Construction Industries and Power Systems - and also provides
financing and related services through its Financial Products segment. For more
information, visit caterpillar.com. To connect with us on social media, visit
caterpillar.com/social-media.

Forward-looking Statements
Certain statements in this press release relate to future events and
expectations and are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Words such as "believe,"
"estimate," "will be," "will," "would," "expect," "anticipate," "plan,"
"project," "intend," "could," "should" or other similar words or expressions
often identify forward-looking statements. All statements other than statements
of historical fact are forward-looking statements, including, without
limitation, statements regarding our outlook, projections, forecasts or trend
descriptions. These statements do not guarantee future performance, and we do
not undertake to update our forward-looking statements.

Caterpillar's actual results may differ materially from those described or
implied in our forward-looking statements based on a number of factors,
including, but not limited to: (i) global economic conditions and economic
conditions in the industries and markets we serve; (ii) government monetary or
fiscal policies and infrastructure spending; (iii) commodity or component price
increases, fluctuations in demand for our products, or limited availability of
raw materials and component products, including steel; (iv) our and our
customers', dealers' and suppliers' ability to access and manage liquidity; (v)
political and economic risks and instability, including national or
international conflicts and civil unrest; (vi) our and Cat Financial's ability
to: maintain credit ratings, avoid material increases in borrowing costs, and
access capital markets; (vii) the financial condition and credit worthiness of
Cat Financial's customers; (viii) changes in interest rates or market
liquidity; (ix) changes in financial services regulation; (x) inability to
realize expected benefits from acquisitions, including ERA Mining Machinery
Limited, and divestitures, including the divestiture of the Bucyrus
International, Inc. distribution business to our independent dealers; (xi)
international trade and investment policies; (xii) market acceptance of our
products and services; (xiii) changes in the competitive environment, including
market share, pricing and geographic and product mix of sales; (xiv) successful
implementation of capacity expansion projects, cost reduction initiatives and
efficiency or productivity initiatives, including the Caterpillar Production
System; (xv) inventory management decisions and sourcing practices of our
dealers or original equipment manufacturers; (xvi) compliance with
environmental laws and regulations; (xvii) alleged or actual violations of
trade or anti-corruption laws and regulations; (xviii) additional tax expense
or exposure; (xix) currency fluctuations; (xx) our or Cat Financial's
compliance with financial covenants; (xxi) increased pension plan funding
obligations; (xxii) union disputes or other labor matters; (xxiii) significant
legal proceedings, claims, lawsuits or investigations; (xxiv) compliance
requirements imposed if carbon emissions legislation and/or regulations are
adopted; (xxv) changes in accounting standards; (xxvi) failure or breach of
information technology security; (xxvii) adverse effects of natural disasters;
and (xxviii) other factors described in more detail under "Item 1 A. Risk
Factors" in our Form 10-K filed with the SEC on February 19, 2013 for the year
ended December 31, 2012. This filing is available on our website at
www.caterpillar.com/secfilings.

SOURCE Caterpillar Inc.

CONTACT: Rachel Potts, Global Government & Corporate Affairs, [phone],
[e-mail]

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