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: PUGH DAVID L (Director, Chairman & CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-08	Stock Appreciation Rights	$21.940	A	88800	Acquired	2016-08-08	Common Stock (88800)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	663043.00	Direct
Common Stock	787.00	Indirect
Common Stock	787.00	Indirect
Common Stock	132115.50	Indirect
Common Stock	3427.07	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$6.940	2012-08-06	Common Stock (112500)	112500	Direct
Employee Stock Option (Right to Buy)	$9.465	2013-08-08	Common Stock (256005)	256005	Direct
Stock Appreciation Rights	$12.907	2014-08-06	Common Stock (144000)	144000	Direct
Stock Appreciation Rights	$23.000	2015-08-09	Common Stock (79500)	79500	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.