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Parker Named One of the World's 100 Best-Managed Companies by IndustryWeek

August 18, 2000

CLEVELAND, Aug. 18 /PRNewswire/ -- Parker Hannifin Corporation (NYSE: PH), the world's leading motion-control technology company, is again named on IndustryWeek's annual list of the World's 100 Best-Managed Companies, as chosen by IW editors and a panel of international experts. The report will appear in the August 21, 2000, issue of IndustryWeek.

Candidates for IndustryWeek's 100 Best-Managed Companies were culled from the IndustryWeek 1000, a list of the world's largest publicly held manufacturing companies based on revenues. Waltham, Mass.-based Primark Corp. supplied the data for the IW 1000, which was published in June.

Each company was selected after a lengthy evaluation that included analysis of the company's financial performance; review of IW 1000 management questionnaires; research into each company's practices in areas such as philanthropy and safety; and voting by a panel of more than 90 business leaders, analysts, and academicians.

"IndustryWeek's 100 Best-Managed Companies are the world's leaders in innovative management strategies," says John Brandt, publisher and editor-in-chief of IW. "Their emphasis on long-term growth makes them models for every corporation."

"This is one award we cherish at Parker, because its recipients are many the more than 40,000 employees who make us successful year after year," said chairman and CEO Duane Collins. "It's an honor, and yet we know we've got earn our place every day, with premier customer service, financial performance and profitable growth."

Twenty companies on the IW list in 1999 do not appear on the list this year. Seventeen companies appear for the first time. Twenty-four companies appear for the second time, 17 for the third time, and seven for the fourth time. Thirteen countries are represented. The top three are the U.S. with 74; Japan, six; and Germany, four.

IndustryWeek magazine is exclusively dedicated to covering the complexities of managing a manufacturing company in today's New Economy for senior management. The magazine, which has more than 850,000 readers, is published by Penton Media Inc. (NYSE: PME), a diversified business media company that publishes magazines and electronic information products, produces trade shows and conferences, and provides marketing and business development products and services, including direct mail lists, research, and custom printing. Copies of IW can be ordered through its customer sales and service department at 800-326-4146.

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 40,000 people in 40 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: Jim Cartwright, Manager, Corporate Communications, 216-896-2752, or jcartwright@parker.com, or Lorrie Paul Crum, VP-Corporate Communications, 216-896-2750, or lcrum@parker.com, both of Parker Hannifin Corporation; or Patricia Panchak, Executive Editor of IndustryWeek, 216-931-9887, or ppanchak@industryweek.com/

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