Parker Hannifin Declares Quarterly Cash Dividend

CLEVELAND, Jan. 25 /PRNewswire-FirstCall/ -- The Board of Directors of Parker Hannifin Corporation (NYSE: PH) today declared a regular quarterly cash dividend

of 26 cents per share of common stock, payable March 2, 2007, to shareholders of

record as of February 15, 2007.

(Logo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO )

This is Parker's 227th consecutive quarterly dividend and comprises a distribution of approximately $30 million. Parker has increased its annual dividends paid to shareholders for 50 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index.

    With annual sales exceeding $9 billion, Parker Hannifin is the world's
leading
diversified manufacturer of motion and control technologies and systems,
providing
precision-engineered solutions for a wide variety of commercial, mobile,
industrial and aerospace markets. The company employs more than 57,000 people in

43 countries around the world. For more information, visit the company's web site at www.parker.com, or its investor information site at www.phstock.com.

Forward-Looking Statements: Forward-looking statements contained in this document and other written reports and oral statements are made based on known events and circumstances at the time of release, and as such, are subject in the

future to unforeseen uncertainties and risks. All statements regarding future
performance, earnings projections, events or developments are forward-looking
statements. It is possible that the Company's future performance and earnings
projections of the Company may differ materially from current expectations,
depending on economic conditions within both its industrial and aerospace
markets,
and the Company's ability to achieve and maintain anticipated benefits
associated
with announced realignment activities, strategic initiatives to improve
operating
margins and growth and innovation initiatives. A change in economic conditions
in
individual markets may have a particularly volatile effect on segment
performance.
Among other factors which may affect future performance are: changes in business

relationships with and purchases by or from major customers or suppliers, including delays or cancellations in shipments, or significant changes in financial condition, uncertainties surrounding timing, successful completion or

integration of acquisitions, threats associated with and efforts to combat terrorism, competitive market conditions and resulting effects on sales and pricing, increases in raw material costs that cannot be recovered in product pricing, the Company's ability to manage costs related to insurance and employee

retirement and health care benefits, and global economic factors, including manufacturing activity, air travel trends, currency exchange rates, difficulties

entering new markets and general economic conditions such as interest rates. The

Company undertakes no obligation to update or publicly revise these forward- looking statements to reflect events or circumstances that arise after the date of this Report.

SOURCE Parker Hannifin Corporation

Released January 25, 2007