Roger Fix Named to Flowserve Board of Directors

Prior to his current position at Standex, Fix served as chiefexecutive officer, president and director of Outboard Marine Corp. Fixhas also served in senior leadership roles at several manufacturingcompanies including a career at John Crane where he was named chiefexecutive in 1998. Other companies where Fix held senior positionsinclude XOMOX, a division of Emerson Electric, Reda Pump, a divisionof Pearson, Plc. and Fisher Controls Company.

"We are very pleased that Roger has joined the Flowserve board ofdirectors," said Lewis M. Kling, President and CEO of Flowserve. "Hehas a vast knowledge of our industry and superb leadership skills thatwill make him an asset to our board. In addition, his previousexperience in our industry and his leadership roles withinmanufacturing make him well-suited to provide an immediatecontribution to the Flowserve board."

Fix holds a bachelor of science in mechanical engineering from theUniversity of Nebraska and a master of science in mechanicalengineering from the University of Texas.

With the addition of Fix, the board of directors increases to 11members.

Flowserve Corp. is one of the world's leading providers of fluidmotion and control products and services. Operating in 56 countries,the company produces engineered and industrial pumps, seals and valvesas well as a range of related flow management services.

SAFE HARBOR STATEMENT: This news release includes forward-lookingstatements. Forward-looking statements are all statements that are notstatements of historical facts and include, without limitation,statements relating to our business strategy and statements ofexpectations, beliefs, future plans and strategies and anticipateddevelopments concerning our industry, business, operations andfinancial 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 toidentify forward-looking statements. The forward-looking statementsmade in this news release are made pursuant to safe harbor provisionsof the Private Securities Litigation Reform Act of 1995. Theseforward-looking statements involve known and unknown risks,uncertainties and other factors that, in some cases, are beyond ourcontrol. These risks, uncertainties and factors may cause our actualresults, performance and achievements, or industry results and markettrends, to be materially different from any future results,performance, achievements or trends expressed or implied by suchforward-looking statements. Important risks, uncertainties and otherfactors that could cause actual results to differ from theseforward-looking statements include, but are not limited to, thefollowing: delays in future reports of the Company's management andoutside auditors on the Company's internal control over financialreporting and related certifications; continuing delays in theCompany's filing of its periodic public reports and any SEC, NYSE ordebt rating agencies' actions resulting therefrom; the possibility ofadverse consequences of the pending securities litigation and SECinvestigations; the possibility of adverse consequences ofgovernmental tax audits of the Company's tax returns, including theupcoming IRS audit of the company's U.S. tax returns for the years2002 through 2004; the Company's ability to convert bookings, whichare not subject to nor computed in accordance with generally acceptedaccounting principles, into revenues at acceptable, if any, profitmargins, since such profit margins cannot be assured nor benecessarily assumed to follow historical trends; changes in thefinancial markets and the availability of capital; changes in thealready competitive environment for the Company's products orcompetitors' responses to the Company's strategies; the Company'sability to integrate acquisitions into its management and operations;political risks, military actions or trade embargoes affectingcustomer markets, including the continuing conflict in Iraq and itspotential impact on Middle Eastern markets and global petroleumproducers; the Company's ability to comply with the laws andregulations affecting its international operations, including the U.S.export laws, and the effect of any noncompliance; the health of thepetroleum, chemical, power and water industries; economic conditionsand the extent of economic growth in the U.S. and other countries andregions; unanticipated difficulties or costs associated with theimplementation of systems, including software; the Company's relativegeographical profitability and its impact on the Company's utilizationof foreign tax credits; the recognition of significant expensesassociated with realigning operations of acquired companies with thoseof Flowserve; the Company's ability to meet the financial covenantsand other requirements in its debt agreements; any terrorist attacksand the response of the U.S. to such attacks or to the threat of suchattacks; technological developments in the Company's products ascompared with those of its competitors; changes in prevailing interestrates and the Company's effective interest costs; and adverse changesin the regulatory climate and other legal obligations imposed on theCompany. It is not possible to foresee or identify all the factorsthat may affect our future performance or any forward-lookinginformation, and new risk factors can emerge from time to time. Giventhese risks and uncertainties, you should not place undue reliance onforward-looking statements as a prediction of actual results. Allforward-looking statements included in this news release are based oninformation available to us on the date of this news release. Weundertake no obligation to revise or update any forward-lookingstatement or disclose any facts, events or circumstances that occurafter the date hereof that may affect the accuracy of anyforward-looking statement.