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Gibraltar Declares Second Quarter 1999 Dividend Payment

3 September 1999

Gibraltar Declares Second Quarter 1999 Dividend Payment

    BUFFALO, N.Y., Sept. 2 -- The Board of Directors of Gibraltar
has declared a cash dividend of $.025 per share for the quarter
ended June 30, 1999.  The dividend will be payable on September 30 to
shareholders of record on September 16.
    Earlier this year, 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.
    On July 21, Gibraltar announced that its second quarter sales increased by
11 percent to $160.2 million, while its net income advanced by 27 percent to
$7.3 million -- both of which were best-ever quarterly results.  The Company
also said that it was in an excellent position to generate record sales and
earnings in 1999, which would be its eighth straight year of sales and
earnings growth.

    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 approximately 9,000 customers in a
variety of industries.  It has approximately 3,000 employees and operates 48
facilities in 19 states and Mexico.