This study focuses on studying the mechanisms and conditions upon which perceived external image could play an important role in raising up employees' positive outcomes. Using an integrative approach of the social identity, social exchange and stakeholders theories; the study aims at investigating the effect of perceived external image on employees' job satisfaction and job involvement, directly and indirectly through the mediating effect of organizational identification. The study also aims at determining the moderating role of perceived organizational distinctiveness on the relationship between perceived external image and organizational identification. Using regression analysis, on a sample of 279 employees working in large food and beverages trade organizations in Alexandria, the hypotheses were supported; where perceived external image has positive total effects on both of job satisfaction and job involvement, in addition to the partial mediating role of organizational identification on the above relationships. The results also revealed that perceived organizational distinctiveness plays the moderating role in strengthening the relationship between perceived external image and organizational identification.