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Genuine Parts Company Increases Cash Dividend

17 February 1999

Genuine Parts Company Increases Cash Dividend for 43rd Consecutive Year and Announces Officer Changes

    ATLANTA--Feb. 17, 1999--Genuine Parts Company announced an increase of 4% in the regular quarterly cash dividend for 1999.
    On February 15, 1999, the Board of Directors increased the cash dividend payable to an annual rate of $1.04 per share compared with the previous dividend of $1.00 per share. The quarterly cash dividend of 26 cents per share is payable April 1, 1999 to shareholders of record March 5, 1999.
    Larry Prince, Chairman of the Board of Directors, stated, "We are pleased to report that cash dividends to shareholders were increased for the 43rd consecutive year. The Company will return 53% of the previous year's earnings to shareholders."
    In addition, the Board of Directors approved the following officer changes. Thomas E. Hancock, age 54, was elected Vice President Growth Capital Program. Tom has 25 years of service with the Company. Also, Scott A. Carlson, age 49 with 27 years with the Company, was elected Vice President - Piedmont Division.
    Genuine Parts Company is a distributor of automotive replacement parts, industrial replacement parts, office products, and electronic and electrical components from operations in the United States, Canada, and Mexico.