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Baldor Electric Company Announces 2nd Quarter 1999 Dividend

3 May 1999

Baldor Electric Company Announces 2nd Quarter 1999 Dividend and Annual Meeting Highlights

    FORT SMITH, Ark., May 3 -- Baldor Electric Company
markets, designs, and manufactures electric motors and drives and
is based in Fort Smith, Arkansas.  Baldor today announced the cash dividend
for the second quarter of 1999 and the results of the Shareholders' Meeting.
    The Company's Annual Shareholders' Meeting was held on May 1, 1999, in
Fort Smith, and was attended by a record number of shareholders and guests.
Shareholders approved the following:

    --  Company directors Jefferson W. Asher, Jr. and Robert J. Messey were
        re-elected each to serve a three-year term to expire in 2002.

    --  Richard E. Jaudes was elected to serve as a director on the Board for
        a three-year term to expire in 2002.

    At the Board of Directors' meeting immediately following the Annual
Meeting, the Board declared a regular quarterly dividend of $0.11 per share on
the Company's common stock.  The cash dividend is payable on June 30, 1999, to
shareholders of record on June 16, 1999.

    For more information, contact:       Baldor Electric Company
                                         P O Box 2400
    R. S. Boreham, Jr. (Chairman)        Fort Smith, Arkansas 72902
    R. L. Qualls (Vice Chairman)         501-646-4711
    John A. McFarland (President)        http://www.baldor.com