CLEVELAND, Oct. 24 /PRNewswire/ -- The Board of Directors of Parker Hannifin Corporation (NYSE: PH) declared a regular quarterly cash dividend of $0.18 per share of common stock payable December 7, 2001, to shareholders of record as of November 21.

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

This is Parker's 206th consecutive quarterly dividend and comprises a distribution of approximately $21 million.

With annual sales of $6 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 45,000 people in 45 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 .

SOURCE Parker Hannifin Corporation

CONTACT: Media, Lorrie Paul Crum, VP - Corp. Communications, +1-216-896-2750, or Financial Analysts, Timothy K. Pistell, Treasurer, +1-216-896-2130, both of Parker Hannifin Corporation/