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Parker Maintains Patented Technology Rights in Sale of Quick-Connect Couplings

November 21, 2003

CLEVELAND, Nov. 21 /PRNewswire-FirstCall/ -- Parker Hannifin issues this statement to clear up any potential misunderstandings about the outcome of Eaton Corporation's patent litigation against Parker.

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

  • The Nov. 18 ruling referenced in the Eaton news release stems from a trial held in Feb. 2003, involving a patent suit filed by Eaton over a hydraulic coupling for special mobile applications.

  • Eaton's suit involved three patents encompassing 80 separate claims. Parker prevailed outright in the claims for all three patents covering all current Parker products.

  • For one discontinued Parker product, Eaton prevailed in three of 80 patent claims.

  • In court, Eaton sought $3 million to pay attorneys' fees incurred for a ruling of less than $50,000 in damages. The court denied Eaton's $3 million request on the basis that Parker acted in good faith, and did not copy Eaton's product.

  • The outcome of the case was that Parker maintained its right to sell its own patented technology, including products improved with a safety feature to prevent accidental disconnects. Parker agreed to pay the damages amounting to less than $50,000 to bring closure to the matter.

  • Parker assures its customers that none of its products will need to be removed from the market as a result of this ruling. As the market leader in quick-connect couplings, Parker offers hundreds of different styles, as well as customizable options, for mobile and industrial customers.

    With annual sales of $6.4 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 46,000 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

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

    Web site: http://www.phstock.com

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