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Baldor Announces Q3 1999 Dividend

4 August 1999

Baldor Announces 3rd Quarter 1999 Dividend and Stock Repurchase Program Authorized

    FORT SMITH, Ark., Aug. 3 -- Baldor Electric Company
markets, designs, and manufactures electric motors and drives and
is based in Fort Smith, Arkansas.  Today Baldor announced the following:
    3rd Quarter 1999 Dividend ... The Board of Directors declared a regular
quarterly dividend of $0.11 per share on the Company's common stock.  The cash
dividend is payable on September 30, 1999, to shareholders of record on
September 9, 1999.
    Stock Repurchase Program ... In September 1998 the Company's Board
authorized the repurchase of 1.5 million shares.  Approximately 95% of that
authorization has been repurchased and the 1998 program will expire
December 31, 1999.  Today the Board authorized the repurchase of up to
1.5 million additional shares of the Company's common stock.  The purchase
program, which may encompass both open market and negotiated transactions, may
be implemented from time to time depending on the Company's needs, market
conditions, and other factors.  This new stock repurchase program will expire
December 31, 2000.

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