Exhibit 99


         APPLIED INDUSTRIAL TECHNOLOGIES RAISES SALES, EARNINGS GUIDANCE
                       FOR FOURTH QUARTER AND FISCAL 2004

CLEVELAND, OHIO, July 19, 2004 - Applied Industrial Technologies (NYSE: AIT)
today raised sales and earnings guidance for its fiscal 2004 fourth quarter and
full-year, ended June 30.

Earnings for the company's fourth quarter are expected to be $0.52 to $0.62 per
share on sales of $404 million to $406 million. Previous guidance, announced on
April 15, projected earnings of $0.45 to $0.50 per share on sales of $385
million to $400 million.

Thus, fiscal 2004 earnings of between $1.57 and $1.67 per share are expected on
revenues of between $1.516 billion and $1.518 billion. Previous guidance
projected earnings of $1.50 to $1.55 per share on sales of $1.497 billion to
$1.512 billion.

Actual fourth quarter and fiscal 2004 results are subject to completion of
year-end closing procedures and adjustments.

Further discussion on fiscal 2004 results and initial guidance for fiscal 2005
will be provided when Applied reports year-end earnings on August 6.

The company will hold its Annual Meeting of Shareholders at 10 a.m. on Tuesday,
October 19, 2004 at its Corporate Headquarters, 3301 Euclid Avenue, Cleveland,
Ohio. August 24, 2004 is the record date for determining shareholders entitled
to notice of and to vote at the Annual Meeting.

With more than 430 facilities and 4,300 employee associates across North
America, Applied Industrial Technologies offers more than 2 million parts
critical to the operations of MRO and OEM customers in virtually every industry.
In addition, Applied provides engineering, design and systems integration for
industrial and fluid power applications, as well as customized mechanical,
fabricated rubber and fluid power shop services. For its fiscal year ended June
30, 2003, the Company posted sales of $1.46 billion. Applied can be visited on
the Internet at www.applied.com.

This press release contains statements that are forward-looking, as that term is
defined by the Securities and Exchange Commission in its rules, regulations and
releases. Forward-looking statements are often identified by qualifiers such as
"expect," "should," "see" and similar expressions. Applied intends that such
forward-looking statements be subject to the safe harbors created thereby. All
forward-looking statements are based on current expectations regarding important
risk factors including trends in the industrial sector of the economy, and other
risk factors identified in Applied's most recent periodic report and other
filings made with the Securities and Exchange Commission. Accordingly, actual
results may differ materially from those expressed in the forward-looking
statements, and the making of such statements should not be regarded as a
representation by the Company




or any other person that the results expressed therein will be achieved. Applied
assumes no obligation to update publicly or revise any forward-looking
statements, whether due to new information, or events, otherwise.

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For financial information, contact Mark O. Eisele, Vice President - Chief
Financial Officer at 216-426-4417. For Corporate information, contact Richard C.
Shaw, Vice President - Communications, at 216-426-4343.