APPLIED INDUSTRIAL TECHNOLOGIES INC — Director's Dealing 2006

Jan 27, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT)
CIK: 0000109563
Period of Report: 2006-01-25

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-01-25	Common Stock	M	10000	$10.410	Acquired	33499.78	Direct
2006-01-25	Common Stock	F	5004	$41.310	Disposed	28495.78	Direct
2006-01-25	Common Stock	S	4000	$41.400	Disposed	24495.78	Direct
2006-01-26	Common Stock	S	1000	$41.500	Disposed	23495.78	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-01-25	Employee Stock Option (Right to Buy)	$10.410	M	10000	Disposed	2012-08-06	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4239.52	Indirect
Common Stock	47.05	Indirect

Footnotes

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