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Holland Retires as CEO of United Dominion

02.01.2001

CHARLOTTE, NC (Dec. 22, 2000) United Dominion Industries Ltd. (NYSE, TSE:UDI) today announced that, in accordance with his earlier plans, William R. Holland will retire as chief executive officer immediately and as chairman of the company at the time his successor is named, but not later than the 2001 annual shareholders meeting scheduled to be held on April 24. A search for a successor is underway.

To provide management continuity in the interim, board member William W. Stinson will become chairman of the company's management committee.

In making this announcement, the company's Board of Directors expressed its deep appreciation to Mr. Holland for his long service and his leadership of the company. Mr. Holland joined United Dominion in 1973, was named chief executive officer in 1986, and chairman in 1987.

United Dominion is a diversified manufacturer of proprietary engineered products in four business segments - Flow Technology, Machinery, Specialty Engineered Products, and Test Instrumentation. It has annual sales in excess of $2.5 billion and 14,000 employees in 20 countries.

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