Flowserve Corp. Recognized by CIO Magazine as One of the 2007 CIO 100 Award Honorees

IDG's CIO Magazine today announced Flowserve (NYSE:FLS), a global leader in the fluid motion and control industry, as a recipient of the 2007 CIO 100. The 20th annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT). According to Abbie Lundberg, editor-in-chief of CIO magazine, "The CIO 100 award recipients serve as industry role models for business and IT excellence. This year’s winners demonstrate extraordinary results in a variety of important areas, including business transformation, collaboration, customer innovation and top line contributions.” "This recognition is very indicative of the commitment and dedication of all of Flowserve’s IT employees around the world,” said Linda Jojo, chief information officer for Flowserve. "I am proud of the work this team has accomplished during the past year, and I am privileged to work with some of the most talented IT employees in the industry.” The 2007 CIO 100 awards were presented at the La Costa Resort & Spa in Carlsbad, California, on August 21 at the conclusion of the ninth annual CIO 100 Symposium® and Awards Ceremony. About the CIO 100 The recipients of this year's CIO 100 award were selected through a three-step process. First, companies filled out an online application form detailing their innovative practices in both business and IT. Next, teams of CIO magazine editors and writers reviewed the applications in depth, looking for unique practices and substantial results. Finally, the teams met for a day-long meeting to debate the merits of each nominee and vote on the final 100. Once the top 100 honorees were selected, several honorees were chosen to receive an additional special award. Complete coverage of the 2007 CIO 100 awards will be in the August 15 issue of CIO magazine and available online at www.cio.com on August 15. About CIO Magazine Launched in 1987, CIO magazine addresses issues vital to the success of chief information officers (CIOs) worldwide. The CIO portfolio includes a companion website (www.CIO.com), CIO Executive Programs and the CIO Executive Council. CIO properties provide technology and business leaders with analysis and insight on information technology trends and a keen understanding of IT’s role in achieving business goals. The U.S. edition of the magazine and website are recipients of 140 awards to date, including two Grand Neals from the Jesse H. Neal National Business Journalism Awards and two Magazine of the Year awards from the National Society of Business Publication Editors. CIO magazine is published in more than a dozen countries, including Australia, Canada, China, France and Germany. CIO magazine, CIO.com, CIO Executive Programs and the CIO Executive Council are produced by International Data Group’s award-winning business unit: CXO Media Inc. About Flowserve Corp. Flowserve Corp. is one of the world's leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company's Web site at www.flowserve.com. SAFE HARBOR STATEMENT: This news release includes forward-looking statements. Forward-looking statements are all statements that are not statements of historical facts and include, without limitation, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition. The words "believe”, "seek”, "anticipate”, "plan”, "estimate”, "expect”, "intend”, "project”, "forecast”, "predict”, "potential”, "continue”, "will”, "may”, "could”, "should”, and other words of similar meaning are intended to identify forward-looking statements. The forward-looking statements made in this news release are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that, in some cases, are beyond our control. These risks, uncertainties and factors may cause our actual results, performance and achievements, or industry results and market trends, to be materially different from any future results, performance, achievements or trends expressed or implied by such forward-looking statements. Important risks, uncertainties and other factors that could cause actual results to differ from these forward-looking statements include, but are not limited to, the following: inherent limitations of the effectiveness of our internal control over financial; potential adverse consequences resulting from securities class action litigation and other litigation, including asbestos-containing product claims; the possibility of adverse consequences related to the domestic and foreign government regarding our participation in the United Nations Oil-for-Food Program; the possibility of adverse consequences of governmental tax audits of our tax returns, including the ongoing IRS audit of our U.S. tax returns for the years 2002 through 2004; our ability to convert bookings, which are not subject to nor computed in accordance with generally accepted accounting principles, into revenues at acceptable, if any, profit margins, since such profit margins cannot be assured or assumed to follow historical trends; changes in the financial markets and the availability of capital; changes in the already competitive environment for our products or competitors' responses to our strategies; our inability to continue to expand our market presence through acquisitions, and unforeseen integration difficulties or costs resulting from acquisitions; economic, political and other risks associated with our international operations, including military actions or trade embargoes that could affect customer markets, including the continuing conflict in Iraq, uncertainties in certain Middle Eastern countries such as Iran, and their potential impact on Middle Eastern markets and global petroleum producers; our ability to comply with the laws and regulations affecting our international operations, including the U.S. export laws, and the effect of any noncompliance; the potential adverse impact of a significant downturn in petroleum, chemical, power and water industries; changes in economic conditions and the extent of economic growth in the U.S. and other countries and regions; unanticipated difficulties or costs associated with the implementation of systems, including software; unanticipated higher costs associated with environmental compliance and liabilities; our relative geographical profitability and its impact on our utilization of foreign tax credits; the potential impact of our indebtedness on cash flows and our ability to meet the financial covenants and other requirements in our debt agreements; any terrorist attacks; adverse changes in the regulatory climate and other legal obligations imposed on us; and other factors described from time to time in our filings with the SEC. It is not possible to foresee or identify all the factors that may affect our future performance or any forward-looking information, and new risk factors can emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements included in this news release are based on information available to us on the date of this news release. We undertake no obligation to revise or update any forward-looking statement or disclose any facts, events or circumstances that occur after the date hereof that may affect the accuracy of any forward-looking statement.