APPLIED INDUSTRIAL TECHNOLOGIES INC — Director's Dealing 2006

Oct 27, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT)
CIK: 0000109563
Period of Report: 2006-10-26

Reporting Person: BAUER FRED D (VP-General Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-26	Common Stock	M	10000	$6.940	Acquired	45077.00	Direct
2006-10-26	Common Stock	F	5650	$29.650	Disposed	39427.00	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-26	Employee Stock Option (Right to Buy)	$6.940	M	10000	Disposed	2012-08-06	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5317.81	Indirect
Common Stock	71.49	Indirect

Footnotes

F1: These options become exercisable in annual increments of 25% commencing one year after the date of grant.