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: COTICCHIA MICHAEL L (VP-CAO & Gov Bus)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-08	Stock Appreciation Rights	$21.940	A	10000	Acquired	2016-08-08	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10099.25	Indirect
Common Stock	12987.18	Direct
Common Stock	1345.28	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$6.940	2012-08-06	Common Stock (10125)	10125	Direct
Employee Stock Option (Right to Buy)	$9.465	2013-08-08	Common Stock (13442)	13442	Direct
Stock Appreciation Rights	$12.907	2014-08-06	Common Stock (12150)	12150	Direct
Stock Appreciation Rights	$23.000	2015-08-09	Common Stock (9300)	9300	Direct

Footnotes

F1: Holdings reflect the effect of the 3 for 2 stock split paid on 6/15/06 as well as dividend reinvestment activity during the fiscal year ended 6/30/06.

F2: All holdings reflect the effect of the 3 for 2 stock split paid on 6/15/06.

F3: Stock-only stock appreciation rights which become exercisable in annual increments of 25% commencing one year after the date of grant.

F4: Both share balance and share price adjusted to reflect the effect of the 3 for 2 stock split paid on 6/15/06.

F5: These options become exercisable in annual increments of 25% commencing one year after the date of grant.