CLEVELAND, April 12 /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 June 1, 2001, to shareholders of record as of May 17.

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

With this action, Parker marks its 45th consecutive increase in annual dividends, which are paid quarterly. This also is the 204th consecutive quarterly dividend paid by the company, comprising a distribution of approximately $21.0 million.

With annual sales of $6 billion, Parker Hannifin Corporation 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 Corporation/