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Baldor Electric Announces Dividend Increase for 1st Quarter 1999

10 February 1999

Baldor Electric Announces Dividend Increase for 1st Quarter 1999, Annual Meeting Record Date, and Management Announcements

    FORT SMITH, Ark., Feb. 9 -- Baldor Electric Company
markets, designs, and manufactures electric motors and drives and
is based in Fort Smith, Arkansas.  Baldor's Board of Directors met on Monday,
February 8, 1999.  R. S. Boreham, Jr., Chairman of the Board, announced the
following:
    DIVIDEND...  The Board declared an increase in the regular quarterly
dividend to $0.11 per share on the Company's common stock.  This is a 10%
increase in the quarterly dividend and represents the 7th increase in the last
five years.  The cash dividend is payable on March 31, 1999, to shareholders
of record on March 10, 1999.
    ANNUAL MEETING RECORD DATE...  The Board established March 17, 1999, as
the record date for voting at the Annual Shareholders' Meeting to be held on
May 1, 1999, in Fort Smith, Arkansas.
    MANAGEMENT ANNOUNCEMENTS...  The Board elected Eddie L. Holderfield as
Vice President-Fort Smith Motor Manufacturing.  Ed joined Baldor over 20 years
ago and has demonstrated his commitment to the quality and profitability of
plant operations.  He previously served as Plant Manager of the Fort Smith
plant and has managed many of the Company's other motor manufacturing
facilities.