National Safety Council Honors Flowserve With 10 Industry Leader Awards for 2006

The National Safety Council (NSC) has honored Flowserve Corporation with 10 Industry Leader Awards for 2006, designating it as one of the safest companies in America. A global provider of fluid motion and control products and services, Flowserve (NYSE:FLS) received nearly six percent of the total of 168 NSC awards bestowed, the second most awards garnered by any one company for achievement in the 2005 calendar year. The NSC recognizes companies based on lost workday cases within each respective North American Industry Classification System (NAICS) two-digit code classifications. Additional selection criteria includes top level participation and achievement in annual NSC Occupational Excellence Achievement (OEA) Awards based upon safety data reported during the preceding award year. Continuous Record During the entire four years of the NSC recognition program, Flowserve has received 21 awards. In addition to this year’s awards, six were received in 2005, four in 2004, and one in 2003. This progression shows a continuing record of safety achievement and advancement for the company. "It is a great honor for our entire team and our operation,” said Lewis Kling, Flowserve President and CEO. "These awards highlight the importance of our focus on safety performance. Such a focus helps Flowserve compete in the global marketplace by reducing costs and improving productivity and on-time delivery.” According to Stephen C. Wilson, director for safety, health and environmental affairs for Flowserve, "Flowserve was awarded nine of the 27 awards in NAICS category 33 for manufacturing, for a total of 33 percent of all awards in that group. The corporation also received one of two awards given in NAICS category 81 for service and repair.” "These Industry Leader Awards are in addition to the 79 other NSC awards conferred on our facilities for safe operations during 2005,” said Wilson. "These awards are for achievements such as going the entire year without a ‘lost time’ accident, and having a ‘total recordable rate’ of less than half of our corporate peers.” Award Locations The Flowserve manufacturing locations recognized with 2006 Industry Leader Awards include: Flow Control - Raleigh, North Carolina - Sulphur Springs, TexasPumps - Phillipsburg, New Jersey - Moosic, Pennsylvania - Pittsburgh, Pennsylvania - Albuquerque, New MexicoFlow Solutions - Temecula, California - Burr Ridge, Illinois - Carson, California - Baton Rouge, Louisiana About NSC The NSC is a non-profit, non-governmental international public service organization dedicated to protecting life and promoting health. Members of the National Safety Council include more than 45,000 business, labor organizations, schools, public agencies, private groups and individuals. Founded in 1913 and chartered by the U.S. Congress in 1953, the primary focus of the NSC is preventing injuries on highways and in homes, workplaces and communities. About Flowserve Corp. Flowserve Corp. is one of the world's leading providers of fluid motion and control products and services. Operating in 56 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 Corp. can be obtained by visiting the company's website at www.flowserve.com. SAFE HARBOR STATEMENT: This 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 presentation 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: delays in future reports of the Company’s management and outside auditors on the Company’s internal control over financial reporting and related certifications; continuing delays in the Company’s filing of its periodic public reports and any SEC, NYSE or debt rating agencies’ actions resulting there from; the possibility of adverse consequences of the pending securities litigation; the possibility of adverse consequences related to the investigations by the SEC and foreign authorities regarding our participation in the United States Oil-for-Food program; the possibility of adverse consequences of governmental tax audits of the Company’s tax returns, including the upcoming IRS audit of the company's U.S. tax returns for the years 2002 through 2004; the Company’s 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 nor be necessarily assumed to follow historical trends; changes in the financial markets and the availability of capital; changes in the already competitive environment for the Company’s products or competitors' responses to the Company’s strategies; the Company’s ability to integrate acquisitions into its management and operations; political risks, military actions or trade embargoes affecting 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; the Company’s ability to comply with the laws and regulations affecting its international operations, including the U.S. export laws, and the effect of any noncompliance; the health of the petroleum, chemical, power and water industries; 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; the Company’s relative geographical profitability and its impact on the Company's utilization of foreign tax credits; the recognition of significant expenses associated with realigning operations of acquired companies with those of Flowserve; the Company’s ability to meet the financial covenants and other requirements in its debt agreements; any terrorist attacks and the response of the U.S. to such attacks or to the threat of such attacks; technological developments in the Company’s products as compared with those of its competitors; changes in prevailing interest rates and the Company’s effective interest costs; and adverse changes in the regulatory climate and other legal obligations imposed on the Company. 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.