Exhibit 99.5

DANAHER CORPORATION

2099 PENNSYLVANIA AVENUE, N.W.

12^TH FLOOR

WASHINGTON, D.C. 20006

TELEPHONE (202)-828-0850   FAX (202)-828-0860

FOR IMMEDIATE RELEASE	CONTACT: Andy Wilson
	VP, Investor Relations
	(202) 828-0850

DANAHER CORPORATION ANNOUNCES RECORD

SECOND QUARTER RESULTS

WASHINGTON, D.C., July 17, 2003 — Danaher Corporation (NYSE:DHR) announced today that net earnings for its second quarter ended June 27, 2003 were $125.1 million, 21% above the corresponding 2002 period earnings of $103.7 million.  Diluted earnings per share for the 2003 quarter were $0.79, an increase of 20% over the $0.66 reported for the 2002 second quarter.  Sales for the 2003 second quarter were $1,299.4 million, 13% higher than the $1,146.3 million for the quarter ended June 28, 2002.

                For the six month period ended June 27, 2003, net earnings were $228.3 million, up 22% from the $186.4 million reported in 2002 before the effect of a change in accounting related to goodwill.  Diluted earnings per share for the 2003 six month period of $1.44 increased 19% from the $1.21 in 2002 before the effect of the accounting change.  Net earnings for the 2002 six month period, after the effect of a first quarter $173.8 million one-time non-cash charge for impairment of goodwill, were $12.7 million, or $0.11 per diluted share.  Sales of $2,495.6 million for the 2003 six month period were 16% higher than the $2,150.5 million reported in 2002.

H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, “We are again pleased to report record second quarter results.  Despite the continued sluggish economic environment, we were able to achieve a 20% increase in earnings per share for the quarter.  Sales for the quarter grew 13% compared to last year’s second quarter, driven primarily by revenues from recently completed acquisitions.  Operating cash flow was a record $449.2 million for the six month period and 14% higher than in 2002.  We are optimistic that our targeted growth opportunities, coupled with a continued drive on cost reduction and acquisition integration, will provide positive results for the balance of the year and position us well for the eventual industrial economic upturn.”

Danaher Corporation is a leading manufacturer of Process/Environmental Controls and Tools and Components.  (www.danaher.com)

Statements in this release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties.  These include economic and currency conditions, market demand, pricing, and competitive and technological factors, among others, as set forth in the company’s SEC filings.

DANAHER CORPORATION

Results of Operations

(thousands, except per share amounts)

(unaudited)

	Three Months Ended					Six Months Ended
	June 27,		June 28,			June 27,			June 28,
	2003		2002			2003			2002
Net sales	$	1,299,432	$	1,146,326		$	2,495,647		$	2,150,533
Operating costs and expenses:
Cost of sales	774,546		701,908			1,503,362			1,330,092
Selling, general and administrative expenses	323,675		277,374			624,856			516,176
Gain on sale of real estate	—		(2,531		)	(775		)	(2,531		)
Total operating expenses	1,098,221		976,751			2,127,443			1,843,737
Operating profit	201,211		169,575			368,204			306,796
Interest expense, net	13,024		11,308			24,940			22,216
Earnings before income taxes and effect of accounting change	188,187		158,267			343,264			284,580
Income taxes	63,043		54,602			114,994			98,180
Net earnings, before effect of accounting change	125,144		103,665			228,270			186,400
Effect of accounting change, net of tax	—		—			—			(173,750		)
Net earnings	$	125,144	$	103,665		$	228,270		$	12,650
Basic earnings per share:
Net earnings before effect ofaccounting change	$	0.82	$	0.69		$	1.49		$	1.26
Less:  Effect of accounting change	—		—			—			(1.17		)
Net earnings	$	0.82	$	0.69		$	1.49		$	0.09
Diluted net earnings per share:
Net earnings before effect ofaccounting change	$	0.79	$	0.66		$	1.44		$	1.21
Less:  Effect of accounting change	—		—			—			(1.10		)
Net earnings	$	0.79	$	0.66		$	1.44		$	0.11
Average common stock and common equivalent shares outstanding:
Basic	153,185		151,274			153,031			148,223
Diluted	161,201		160,045			160,934			156,994

A complete copy of Danaher’s Form 10-Q financial statement is available on the Company’s website (www.danaher.com)