Flowserve announced today that it has reached a definitive agreement to sell certain product distribution assets of its small non-core instrumentation and positioner facility in Karlstad, Sweden, to Indutrade.

DALLAS – September 14, 2007 – Flowserve Corp. (NYSE: FLS), a leading global provider of fluid motion and control products and services, announced today that it has reached a definitive agreement to sell certain product distribution assets of its small non-core instrumentation and positioner facility in Karlstad, Sweden, to Indutrade.

The Karlstad facility provides instrumentation products and systems including gas analyzers, I/O devices, recorders, radiation density meters and other non-core products used for measurement and control of flow processes in industries such as power, paper and machinery.  Under the terms of the agreement, Indutrade will continue to sell Flowserve’s products and services, which should provide Flowserve wider access to sales channels in the region.

Additional terms of the deal were not disclosed but are not material to Flowserve.

"This agreement enables Flowserve to strengthen its focus on core control valve solutions and manufacturing operations while concurrently opening up some new sales channels for us throughout Sweden and northern Europe," said Tom Pajonas, president of Flowserve’s Flow Control Division.

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.