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Flowserve Receives Industry Leadership[ Awards

Frost & Sullivan cites company for superior customer value and market leadership

Dallas, Texas, USA – October 17, 2006 – Flowserve Corp. (NYSE: FLS), a global provider of fluid motion and control products and services, announced that it has received two prestigious industry awards from global growth consulting company Frost & Sullivan honoring its market leadership in the pump sector. The two awards cite Flowserve’s excellence in providing superior value to its customers and its global penetration in the oil and gas industry.

For the first award, Frost & Sullivan honored Flowserve as its 2006 North American Growth Excellence in Customer Value Leadership recipient in the pumps solutions market space. This award recognized Flowserve for its superior customer-centric business solutions and market-leading customer satisfaction. Frost & Sullivan noted that Flowserve has continued to expand its customer base by consistently addressing critical customer challenges and providing a one-stop shop for a complete range of dependable, reliable and cost-effective flow control products and solutions.

“Backed by sound technical expertise and a continuous focus on innovation, Flowserve has grown by delivering consistent customer value in a highly fragmented, competitive, and price-sensitive market space,” said Dushyant Mehra, research analyst, Frost & Sullivan. “Flowserve is undoubtedly the global leader in pumps, controls and associated system components that provide complete rotating equipment solutions for customers.”

“Flowserve’s strength lies in the broad product portfolio and application know-how that strongly emphasize its leadership in the pumps market,” added Mehra. “The wide range of highly reliable products, combined with profitable solutions offered by Flowserve, caters uniquely to customer needs.”

With the second award, Flowserve was honored as the 2006 Frost & Sullivan Global Vertical Market Penetration Leadership Award recipient for its market-oriented and strategic approach to offering highly reliable and efficient pump systems to the oil and gas industry. Flowserve was recognized for consistently meeting the demand of the industry’s extreme environments and challenging applications. In presenting the award, Frost & Sullivan noted that no other manufacturer offers the breadth of pumps for refining and petrochemical processing, as well as pipeline and production (offshore, onshore, synthetic crude, liquid natural gas) that Flowserve does.

“Flowserve has consistently managed to provide innovative solutions and highly engineered pumps that are the hallmark of reliability in demanding industrial applications,” said Mehra. “The company continues to remain at the forefront in winning customers by providing timely delivery of pumping solutions and services of the highest quality.”

“These awards are truly a credit to all of the talented and hard-working Flowserve employees around the world,” said Thomas E. Ferguson, president, Flowserve Pumps. “Innovation, teamwork, and an intense customer focus drive everything we do.”

Eugene Levine, vice president, operational excellence, Flowserve Pumps, accepted the two honors for the company at the Frost & Sullivan Growth Excellence Awards ceremony on September 26.

For sales, marketing or technical information, contact Flowserve Pumps by phone at +1 (800) 728-PUMP or by e-mail at fpdinformation@flowserve.com

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