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Gibraltar Declares Third Quarter 1999 Dividend Payment

9 December 1999

Gibraltar Declares Third Quarter 1999 Dividend Payment

    BUFFALO, N.Y., Dec. 8 -- The Board of Directors of Gibraltar
has declared a cash dividend of $.025 per share for the quarter
ended September 30, 1999.  The dividend will be payable on January 3 to
shareholders of record on December 22.
    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 October 18, Gibraltar announced that its third quarter net income
increased by 40 percent to $7.2 million.  The Company also said that it
expected to generate record sales and earnings in 1999, which would be its
eighth straight year of sales and earnings growth, and that it was well
positioned to surpass its goal of 20 percent annual earnings growth this year.
    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 3,300 employees and operates
50 facilities in 19 states and Mexico.
    Gibraltar's news releases, along with comprehensive information about the
Company, are available on the Internet, at http://www.gibraltar1.com.