Baldor Electric Company Announces 1st Quarter 2004 Dividend and Notice Of Annual Shareholders' Meeting

FORT SMITH, Ark., Feb. 10, 2004 -- Baldor Electric Company markets, designs, and manufactures electric motors, drives, and generators and is based in Fort Smith, Arkansas. Today Baldor made the following announcements after the Company's Board of Directors' meeting on February 9, 2004.

Cash Dividend ... The Board of Directors declared a regular quarterly cash dividend of $0.14 per share on the Company's common stock. The cash dividend is payable on March 31, 2004, to shareholders of record on March 10, 2004.

Notice of Annual Shareholders' Meeting ... The Board established March 10, 2004, as the record date for voting at the Annual Shareholders' Meeting. The meeting is scheduled for 10:30 am (local time) on Saturday, April 24, 2004, and will be held at the Fort Smith Convention Center in Fort Smith, Arkansas.