IRVINE, Calif., Feb. 1 /PRNewswire/ -- The Board of Directors of Parker Hannifin (NYSE: PH) today increased the company's regular quarterly cash dividend 5.9% to $.18 from $.17 per share of common stock and declared a dividend payable March 2, 2001 to shareholders of record February 15, 2001.

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

This is Parker's 203rd consecutive quarterly dividend and comprises a distribution of approximately $21 million.

"Parker's profitable performance across a diverse array of global markets makes this dividend increase possible," said Duane Collins, chairman and chief executive officer.

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 46 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, 216-896-2750, or Financial Analysts, Timothy K. Pistell, Treasurer, 216-896-2130, both of Parker Hannifin/