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Gibraltar Declares First Quarter 1999 Dividend Payment

4 June 1999

Gibraltar Declares First Quarter 1999 Dividend Payment

    BUFFALO, N.Y., June 3 -- The Board of Directors of Gibraltar
has declared a cash dividend of $.025 per share for the quarter
ended March 31, 1999. The dividend will be payable on June 30 to shareholders
of record on June 16.
    On February 9, Gibraltar declared a special cash dividend of $.05 per
share. It also announced that its Board approved the initiation of an annual
dividend of $.10 per share, payable at the quarterly rate of $.025 per share,
and that it would review the payment of this quarterly. This dividend
represents the Company's first quarterly dividend payment.
    "This dividend gives us a way to share a portion of our success with our
loyal shareholders. It also underscores the continued strength and excellent
growth prospects of our Company. Moreover, since many institutions and
individuals specifically invest in companies that pay dividends, we expect to
broaden and diversify our shareholder base as a result of initiating a regular
dividend," said Brian J. Lipke, Chairman and Chief Executive Officer.
    Gibraltar recently announced that its first quarter sales grew by
24 percent to $144 million, while its net income climbed by 21 percent to
$5.0 million. The Company also said that the second and third quarters were
historically its strongest periods, and that it expected to meet -- or exceed
-- its goal of 20 percent top- and bottom-line growth in 1999.
    Information contained in this release, other than historical information,
should be considered forward-looking, and may be subject to a number of risk
factors, including: the impact of changing steel prices on the Company's
results of operations; changing demand for the Company's products; the impact
of the Year 2000 issue; and changes in interest or tax rates.
    Gibraltar is a growth-oriented company, with expanding operations in the
building and construction products, metal processing and commercial heat-
treating markets. The Company serves more than 9,000 customers in a variety of
industries. It has approximately 2,700 employees and operates 45 facilities in
18 states and Mexico.

    Gibraltar's news releases, along with comprehensive information about the
Company, are available on the Internet at http://www.gibraltar1.com.