Sales of almost $1.1 billion in the second quarter were up 7%, segment earnings were up 6%, and net earnings improved 10%. These income gains translated into higher earnings per share gains due to Dover's share repurchase program. The Company repurchased 5.1 million shares in the second quarter at an average price of $ 37 1/4. Since announcing the sale of the Elevator business in November, 1998, Dover has repurchased 14.7 million shares for $511 million, reducing actual shares outstanding by about 7%.

Dover also invested $140 million in the second quarter by purchasing three companies. Richards Industries was acquired by OPW-Fueling Components to expand their product range. J. E. Piston, a maker of high-performance engine pistons primarily for automotive racing, was acquired by Wiseco which makes similar products primarily for motorcycle and boat racing. Somero, the leading manufacturer of laser guided ''screeds'' for leveling concrete during construction joins Dover Industries. Somero holds numerous patents for its laser technology which provides precision, speed, and cost reduction to the construction industry.

This brings Dover's total acquisition investment in the first six months of 1999 to $306 million. Further acquisitions are likely during the second half of the year.

Two of Dover's market segments achieved earnings gains in the second quarter (Industries and Technologies) while two had declines (Diversified and Resources).

Industries' 30% earnings gain came from strong growth in most of its businesses as nine of its thirteen companies achieved increases ranging from 12% to over 50%. Declines were small, amounting to only $1.3 million in total. Somero added modestly to segment earnings. The largest gains, totaling over $6 million, were in Heil Enviornmental's refuse truck business, Marathon's waste compacting equipment, Rotary's automotive lifts and Texas Hydraulics' specialty cylinders. Most companies had book-to-bill ratios of 1.0 or greater and total bookings were up 12% from last year (8% adjusted for acquisitions). Heil Trailer's market has cooled from the strong pace of early 1998 as bookings were down by 15% and 21% on a year-to-date and second quarter basis, respectively. Backlog remains adequate for this business, but the market is probably not strong enough to allow Trailer to match the shipment level of last year's second half. Industries' total orders were 98% of shipments and June 30 backlog is close to last year's level. Second quarter earnings will probably be Industries' highest quarter this year, but business conditions remain strong for most of its companies.

Technologies' profits in the second quarter advanced 17% on a 6% sales gain, with the Circuit Board Assembly/Test companies (CBAT) up 15% on a 4% revenue gain. On a sequential basis, profits were up 95% from the first quarter of 1999 with CBAT up 89%. Orders at Technologies were 26% above the second quarter of last year, 22% above the first quarter of 1999, and 11% higher than shipments. For CBAT, these comparisons were 30%, 26%, and 12%, respectively. June was an unexpectedly strong order month, but the CBAT companies were still below the peak levels achieved during the first 10 months of 1997, before the electronics industry's slump began.

All but one of Technologies' companies had earnings gains in the second quarter with ink jet marking, CBAT, and specialty electronic components all showing gains. Profits from Alphasem, acquired at the beginning of this year, allowed Universal Instruments, the largest company in the CBAT portion of Technologies' business, to improve its earnings only modestly. Universal's earnings rate in the second quarter was higher than the average of last year's third and fourth quarters, while backlog at June 30 is up 42% from last year and has increased 58% from the beginning of 1999 (figures include Alphasem). These results exceeded management's expectations, but are consistent with Dover's beginning of the year forecast that the CBAT business would strengthen as the year progresses.

Profits at Diversified fell by $3.8 million, (equal to 10%,) from a strong result last year. As previously reported Belvac and A-C Compressor had low orders in 1998 and were expected, therefore, to earn less in 1999. Together they earned $3.1 million in this year's second quarter, a decline of $8 million from last year - all due to lower shipments. However, Belvac had strong orders in the quarter with a book-to-bill of 1.6 and A-C again booked more than shipments, raising their June 30 backlog to within 8% of last year. Most of Diversified's nine other companies had strong gains led by Pathway, Waukesha, and Wiseco. Hill Phoenix, which is Diversified's largest company measured by sales volume, achieved an 18% sales gain on their highly competitive supermarket display case/refrigeration business while maintaining good margins. Hill Phoenix's bookings were strong at 1.4x sales and their June 30 backlog is 31% ahead of prior year. Diversified's overall book-to-bill was 1.14 in the quarter which put backlog 10% ahead of prior year. Diversified had record profits in the second half of 1998 of $76 million. This will be difficult to match in 1999 unless orders for short lead-time products improve from current levels.

The Resources' segment experienced a $5.4 million (equal to 18%) decline in second quarter profits, reflecting a broad decline in energy and chemicals end-markets. Only 2 of 14 companies achieved gains -- Wilden Pump, which improved margins on slightly lower sales; and Hydro Systems whose equipment is used in industrial and commercial cleaning applications. Wilden was acquired at the end of last year's second quarter, and in the current quarter accounted for about 10% of Resources' sales and 11% of profits (after acquisition premium amortization). The largest profit declines (together $3.2 million) were at OPW-Fueling Components and at OPW-Fluid Transfer, the former due to reduced demand for EPA mandated in-ground petroleum storage equipment and the latter as a result of the lower demand for equipment to move hazardous chemicals and gasoline. Bookings for these two companies were 3% less than shipments and their second quarter earnings rate was about 35% below the average of last year's second half. Resources companies that directly supply equipment related to oil and gas drilling also had very unfavorable earnings comparisons to last year, but markets here are improving in response to higher oil prices, and second quarter earnings were 25% above the rate of last year's second half. During the balance of 1999, Dover Resources is unlikely to match the $62 million earned in the last half of 1998. Operational margins, however, were almost 16% in the second quarter and profits will respond sharply to any upturn in end markets.

Dover continues to believe that a 15% gain in earnings per share from continuing operations is a reasonable ''guesstimate'' for 1999. However, this requires further strengthening in the second half, which depends on continued recovery in the electronics industry.

                    DOVER CORPORATION CONSOLIDATED
                        MARKET SEGMENT RESULTS
                              (unaudited)

Second quarter
 ended                EARNINGS                        SALES
 June 30,:       1999          1998(1)        1999           1998(1)
---------------------------------------------------------------------

Dover
 Industries  $ 48,709,000  $ 37,354,000   $293,826,000   $252,065,000
Dover
 Technologies  47,904,000    40,925,000    334,883,000    317,033,000
Dover
 Diversified   34,808,000    38,658,000    260,715,000    248,832,000
Dover
 Resources     24,895,000    30,344,000    189,554,000    192,875,000
             --------------------------------------------------------
Subtotal (after
 intramarket
 eliminations)156,316,000   147,281,000 $1,077,850,000 $1,009,772,000
                                        =============================
Corporate
 expense &
 interest
 net          (13,491,000)  (19,081,000)
             --------------------------
Earnings
 before taxes
 on income    142,825,000   128,200,000
Taxes on
 income        49,515,000    43,492,000
             --------------------------

Net earnings
 - Continuing
 Operations    93,310,000    84,708,000
Earnings from
 discontinued
 operations(1)          -    15,346,000
             ==========================
Net earnings $ 93,310,000 $ 100,054,000
             ==========================

Net earnings
 per share:

Basic -
 Continuing     $    0.44      $   0.38
 Discontinued
                        -          0.07
             ==========================
 Net earnings   $    0.44      $   0.45
             ==========================

Diluted -
 Continuing     $    0.44      $   0.38
 Discontinued
                        -          0.07
             ==========================
 Net earnings   $    0.44      $   0.45
             ==========================


Six months
 ended                 EARNINGS                       SALES
 June 30,:       1999          1998(1)        1999           1998(1)
----------   --------------------------------------------------------
Dover
 Industries  $ 85,993,000  $ 71,368,000   $552,532,000   $481,559,000
Dover
 Technologies  72,518,000    74,624,000    623,003,000    614,690,000
Dover
 Diversified   59,714,000    67,295,000    491,295,000    459,107,000
Dover
 Resources     51,828,000    62,390,000    383,311,000    387,176,000
             --------------------------------------------------------
Subtotal
 (after
 intramarket
 eliminations)270,053,000   275,677,000 $2,047,605,000 $1,940,268,000
                                        =============================
Corporate
 expense &
 interest net (22,464,000)  (36,249,000)
             --------------------------
Earnings
 before taxes
 on income    247,589,000   239,428,000
Taxes on
 Income        85,059,000    80,877,000
             --------------------------
Net earnings
 - Continuing
 Operations   162,530,000   158,551,000
Earnings from
 discontinued
 operations(1)               31,498,000

Gain on
 sale of
 discontinued
 operations(1)523,938,000
             ==========================
Net earnings $686,468,000 $ 190,049,000
             ==========================

Net earnings
 per share:

Basic -
 Continuing     $    0.76      $   0.71
 Discontinued
                        -          0.14
 Gain on sale
                     2.45             -
             ==========================
 Net earnings   $    3.21      $   0.85
             ==========================

Diluted -
 Continuing     $    0.76      $   0.71
 Discontinued
                        -          0.14
 Gain on sale
                     2.43             -
             ==========================
 Net earnings   $    3.19      $   0.85
             ==========================

Average
 number of
 shares
 outstanding
 - Basic      213,796,000   222,901,000
Average
 number of
 shares
 outstanding
 - Diluted    215,248,000   224,692,000

(1)  On January 5, 1999, Dover completed the sale of its elevator
     business to Thyssen Industrie AG for $1.17 billion. Results for
     1998 have been restated to classify the elevator business as
     discontinued.


                    DOVER CORPORATION CONSOLIDATED
                           FINANCIAL RESULTS
                              (unaudited)

Second quarter                                                PERCENT
 ended June 30,:                  1999            1998(1)      CHANGE
----------------            ------------------------------------------

Net sales                   $1,077,850,000  $1,009,772,000        6.7%

Earnings before taxes        $ 142,825,000   $ 128,200,000       11.4%

Net earnings from
 continuing operations(1)    $  93,310,000   $  84,708,000       10.2%

Net earnings(1)              $  93,310,000   $ 100,054,000       -6.7%

Net earnings per share:

Basic -   Continuing             $    0.44       $    0.38       15.8%
          Discontinued                   -            0.07
                            ==============================
          Net earnings           $    0.44       $    0.45       -2.2%
                            ==============================

Diluted - Continuing             $    0.44       $    0.38       15.8%
          Discontinued                   -            0.07
                            ==============================
          Net earnings           $    0.44       $    0.45       -2.2%
                            ==============================

Depreciation/amortization    $  46,731,000   $  41,239,000       13.3%

Capital expenditures         $  27,520,000   $  32,708,000      -15.9%


Six months                                                    PERCENT
 ended June 30,:                  1999            1998(1)      CHANGE
----------------            ------------------------------------------

Net sales                   $2,047,605,000  $1,940,268,000        5.5%

Earnings before taxes        $ 247,589,000   $ 239,428,000        3.4%

Net earnings from
 continuing operations(1)    $ 162,530,000   $ 158,551,000        2.5%

Net earnings(1)              $ 686,468,000   $ 190,049,000      261.2%

Net earnings per share:

Basic -   Continuing             $    0.76       $    0.71        7.0%
          Discontinued                   -            0.14
          Gain on sale                2.45               -
                            ==============================
          Net earnings           $    3.21       $    0.85      277.6%
                            ==============================

Diluted - Continuing             $    0.76       $    0.71        7.0%
          Discontinued                   -            0.14
          Gain on sale                2.43               -
                            ==============================
          Net earnings           $    3.19       $    0.85      275.3%
                            ==============================

Depreciation/amortization    $  89,914,000   $  78,747,000       14.2%

Capital expenditures         $  53,825,000   $  57,634,000       -6.6%

Cash and marketable
 securities                  $ 230,706,000   $  70,991,000      225.0%

Short-term debt & current
 maturities of long-term
 debt                        $ 104,384,000   $ 521,141,000      -80.0%


Long-term debt               $ 606,742,000   $ 611,360,000        -.8%

Equity                      $2,086,367,000  $1,853,931,000       12.5%

(1)  On January 5, 1999, Dover completed the sale of its elevator
     business to Thyssen Industrie AG for $1.17 billion. Results for
     1998 have been restated to classify the elevator business as
     discontinued.

     Dover Corporation, New York
     John F. McNiff
     Vice President
     212/922-1640
     http://www.dovercorporation.com