Flowserve Taneytown Plant Honored for Expansion Project by Carroll County, Md.

Business Expansion Award recognizes Motor Center of Excellence

TANEYTOWN, Md., January 3, 2007 – Flowserve Corporation, a leading global provider of fluid motion and control products and services (NYSE: FLS), was recently recognized by the Carroll County (Md.) Department of Economic Development with its Business Expansion Award for Flowserve’s Motor Center of Excellence (MCOE) expansion project in Taneytown, Md. Maryland Secretary of Business & Economic Development David Edgerly presented the award at a recent Business Awards Dinner.

Sponsored jointly by the Carroll County Department of Economic Development and Carroll County Chamber of Commerce, the Business Expansion Award acknowledges Flowserve Corporation’s close involvement with state and county officials and the long-term potential growth of the MCOE project. Flowserve Taneytown Plant Manager Bjorn Haldorsen and Director of Water Industry and Product Management Chuck Powers accepted the award on behalf of Flowserve at the ceremony.

The new MCOE combines manufacturing, sales support, testing, assembly and service for customers in the Americas. To support the MCOE, the Flowserve Taneytown operation has also hired new employees for all aspects of the center’s operation.

The MCOE provides full technical support for Flowserve’s Pleuger and Byron Jackson brands of submersible pumps and motors. The Center is a one-stop shop for deep-well submersible pump customers. Through re-aligning and expanding operations closer to its customer base, Flowserve is in a stronger position to provide support in many strategic markets, including oil and gas, power, water resources, mining and general industrial.

Flowserve is unique in that it is the only company capable of offering its customers a choice of either oil-filled or water-filled submersible motors complete with proprietary pump ends. These offerings enable customers to select the design that best meets their needs in terms of application, preference and specifications, and initial purchase cost versus total life cycle costs.

“Flowserve looks forward to meeting the needs of our customers as this business develops, and we look forward to continued growth within the MCOE and the overall Taneytown, Maryland facility,” Haldorsen said.

In 2007, Flowserve constructed an environmentally controlled room necessary for motor re-winds. Further expansions to the plant are underway for completion in 2008, including a 5 000 square-foot service center for motor tear downs and inspections. An additional 17 000 square feet of warehouse space is also being added to support the increase in business.

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.

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Media Contact: Maury Williams - Senior Public Relations Consultant, HSR Business to Business Inc., +1 (513) 346-3537 mwilliams@hsr.com