APPLIED INDUSTRIAL TECHNOLOGIES INC — Director's Dealing 2006

Aug 10, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT)
CIK: 0000109563
Period of Report: 2006-08-08

Reporting Person: SHAW RICHARD C (VP-Communications & Learning)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-08	Stock Appreciation Rights	$21.940	A	3800	Acquired	2016-08-08	Common Stock (3800)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	39289.00	Direct
Common Stock	12021.00	Indirect
Common Stock	131.73	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right To Buy)	$8.597	2011-01-18	Common Stock (2812)	2812	Direct
Employee Stock Option (Right to Buy)	$7.922	2011-08-09	Common Stock (2812)	2812	Direct
Employee Stock Option (Right to Buy)	$6.940	2012-08-06	Common Stock (5625)	5625	Direct
Employee Stock Option (Right to Buy)	$9.465	2013-08-08	Common Stock (10241)	10241	Direct
Stock Appreciation Rights	$12.907	2014-08-06	Common Stock (6075)	6075	Direct
Stock Appreciation Rights	$23.000	2015-08-09	Common Stock (2850)	2850	Direct

Footnotes

F1: All holdings reflect the effect of the 3 for 2 stock split paid on 6/15/06.

F2: Stock-only stock appreciation rights which become exercisable in annual increments of 25% commencing one year after the date of grant.

F3: Both share balance and share price adjusted to reflect the effect of the 3 for 2 stock split paid on 6/15/06.

F4: These options become exercisable in annual increments of 25% commencing one year after the date of grant.