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Donaldson Company Announces Quarterly Cash Dividend Increase

26 July, 2002

MINNEAPOLIS, Jul 26, 2002 (BUSINESS WIRE) -- Donaldson Company, Inc. (NYSE:DCI), announced today that the company's board of directors has increased the common stock cash dividend for the second time in fiscal year 2002.

The board declared a regular cash dividend of 8 1/2 cents per share, payable September 12, 2002 to shareholders of record as of August 23, 2002. As of June 30, 2002, there were approximately 44,000,000 shares outstanding. The current declaration is the 188th consecutive quarterly cash dividend paid by Donaldson.


    About Donaldson Company, Inc.

Donaldson Company, Inc., headquartered in Minneapolis, Minn., is a leading worldwide provider of filtration systems and replacement parts. Founded in 1915, Donaldson is a technology-driven company committed to satisfying customer needs for filtration solutions through innovative research and development. Donaldson serves customers in the industrial and engine markets including dust collection, power generation, specialty filtration, compressed air purification, off-road equipment, industrial compressors and trucks. More than 9,000 employees contribute to the company's success at 40 manufacturing locations around the world. In fiscal year 2001, Donaldson reported record sales of more than $1.1 billion and achieved its twelfth consecutive year of double-digit earnings growth. Donaldson is a member of the S&P MidCap 400 Index and Donaldson shares are traded on the New York Stock Exchange under the symbol DCI. Additional company information is available at

CONTACT:          Donaldson Company, Inc., Minneapolis
                  Rich Sheffer, 952/887-3753
                  Padilla Speer Beardsley Inc.
                  Larry Splett, 612/455-1770

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