Leggett & Platt Announces Dividend, Annual Meeting Results, and New Board Members

CARTHAGE, Mo., May 13 /PRNewswire-FirstCall/ --

• 2Q dividend is $.26 per share; indicated dividend yield is 4.2% (based on $24.63 stock rice)
• Ray A. Griffith, President & CEO of Ace Hardware Corporation, and Matthew C. Flanigan, CFO of Leggett & Platt, join Leggett's Board effective today

Leggett & Platt's Board of Directors announced a dividend of $.26 per share for the second quarter.   The dividend  will  be  paid  on  July 15,  2010  to  shareholders of  record on June  15,  2010.  The company  has increased its annual dividend for 39 consecutive years, at an average compound growth rate of 14%. Annual Meeting Results

The  annual  meeting  of  Leggett  &  Platt  shareholders  was  held  this  morning  in  Carthage,  Missouri. Shareholders  elected  as  directors  the  12  nominees  proposed  by  the  Board;  ratified  the  selection  of PricewaterhouseCoopers as the company's independent registered public accountant for 2010; approved the amendment  and  restatement  of  the  Company's  Flexible  Stock  Plan;  and  rejected  a  shareholder  proposal regarding the company's non-discrimination policy.  No other proposals were presented at the meeting. New Board Members

Leggett  &  Platt  announced  the  election  of  Ray  A.  Griffith  and  Matthew  C.  Flanigan  to  the  Board  of Directors, expanding the Board to 12 members. Mr. Griffith, age 56, has been the President and CEO of Ace  Hardware Corporation  (Ace), the largest  hardware cooperative  in the United States,  since 2005.  He was previously the Executive Vice President and Chief Operating Officer of Ace from 2004 to 2005, the Executive  Vice  President of Retail  from  2000 to 2004,  and  served  Ace in  various other capacities since 1994.  Mr. Griffith holds a degree in marketing and finance from Southern Illinois University.

Mr. Flanigan, age 48, was appointed Senior Vice President and Chief Financial Officer of Leggett & Platt in 2005.   He previously served the Company as Vice President and Chief Financial Officer from 2003 to 2005,  President  of  the  Office  Furniture  Components  Group  from  1999  to  2003,  and  in  various  other capacities since  1997.   He  holds a  degree  in finance and  business administration from  the  University of Missouri.

FOR MORE INFORMATION: Visit Leggett's website at www.leggett.com.

COMPANY DESCRIPTION: Leggett & Platt (NYSE: LEG) is a diversified manufacturer (and member of the S&P 500) that conceives, designs and produces a broad variety of engineered components and products that can be found in most homes, offices, and automobiles. The company serves a broad suite of customers that comprise a "Who's Who" of U.S. manufacturers and retailers. The 127-year-old firm is comprised of 19 business units, 19,000 employee-partners, and more than 140 manufacturing facilities located in 18 countries.

Leggett  &  Platt  is  North  America's  leading  independent  manufacturer  of:  a)  components  for  residential  furniture  and  bedding;  b) components for office furniture; c) drawn steel wire; d) automotive seat support and lumbar systems; e) carpet underlay; f) adjustable beds; and g) bedding industry machinery for wire forming, sewing and quilting.

CONTACT:   Investor Relations, (417) 358-8131 or [email protected] David M. DeSonier, Vice President of Strategy and Investor Relations Susan R. McCoy, Director of Investor Relations

SOURCE Leggett & Platt