CLEVELAND, Jan 27, 2005 /PRNewswire-FirstCall via COMTEX/ -- The Board of Directors of Parker Hannifin Corporation (NYSE: PH) today increased the company's regular quarterly cash dividend to $0.20 from $0.19 per share of common stock and declared a dividend payable March 4, 2005, to shareholders of record as of February 17.

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

This is Parker's 219th consecutive quarterly dividend and comprises a distribution of approximately $24 million. Parker has increased its annual dividends paid to shareholders for 48 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index.

With annual sales exceeding $7 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 46 countries around the world. For more information, visit the company's web site at http://www.parker.com , or its investor information site at http://www.phstock.com .

SOURCE Parker Hannifin Corporation

Media, Jennifer Eaton, Corp. Communications, +1-216-896-2895, or jeaton@parker.com , or Financial Analysts, Pamela Huggins, Vice President and Treasurer, +1-216-896-2240 phuggins@parker.com , both of Parker Hannifin Corporation