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Parker Hannifin Declares Cash Dividend

July 08, 1999

CLEVELAND--(BUSINESS WIRE)--July 8, 1999--The Board of Directors of Parker Hannifin Corporation today declared a regular quarterly cash dividend of $0.17 per share of common stock payable September 3, 1999, to shareholders of record as of August 24.

This is Parker's 196th consecutive quarterly dividend and involves a distribution of $18.5 million. Parker has increased its dividend for 43 fiscal years.

Parker is a leading diversified manufacturer of motion control, instrumentation and fluid flow components and systems for hundreds of industrial and aerospace markets. For more information, visit the Company Web site at www.parker.com.


Contact:
     Parker Hannifin Corporation
     Media - Lorrie Paul Crum, 216/896-2752
             Jodi L. Bennett, 216/896-3258
     Financial Analysts - Timothy K. Pistell, 216/896-2130

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