CLEVELAND, July 17 /PRNewswire-FirstCall/ -- The Board of Directors of Parker Hannifin Corporation (NYSE: PH) declared a regular quarterly cash dividend of $0.19 per share of common stock payable September 5, 2003, to shareholders of record as of August 21.

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

This is Parker's 213th consecutive quarterly dividend and comprises a distribution of approximately $22.5 million.

With annual sales exceeding $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 48,000 people in 44 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
07/17/2003

CONTACT: Media, Lorrie Paul Crum, VP - Corp. Communications, +1-216-896-2750, or lcrum@parker.com, or Financial Analysts, Pamela Huggins, Vice President - Treasurer, +1-216-896-2240, or phuggins@parker.com