Flowserve Appoints Andrew J. Beall To Lead Flow Solutions Division

07.05.2003

Flowserve Corp. (NYSE:FLS) announced today the appointment of Andrew J. Beall as President of the Flow Solutions Division. Beall will oversee all aspects of the Flow Solutions business, with worldwide annual sales of approximately $350 million. He will also continue to serve as Vice President of Flowserve Latin America supporting all three divisions.

This appointment fills the open position created with the transition of Tom Ferguson to the President of the Pump Division. Beall will report directly to C. Scott Greer, Chairman, President and Chief Executive Officer of the Company.

Beall's career with Flowserve and one of its predecessor companies, The Duriron Company, spans almost ten years. Beall, 46, has served in a number of key domestic and international management positions, most recently as the Vice President/General Manager, Latin America, based in Mexico City and Argentina and supporting all three divisions of Flowserve. He has extensive experience in the management of operations in developing countries, driving change towards the development of world-class performance and leading successful sales operations. Beall also has a broad exposure within Flowserve, with various assignments in pumps, valves and seals, with key customers and to the industries served. He holds a Bachelor of Arts degree in Business Management from North Carolina State University and an MBA from the Graduate School at Queens College.

"I am delighted to fill this critical leadership role with a person of Andy's background and talent," said Chairman, President and Chief Executive Officer C. Scott Greer. "Andy's proven ability to drive change, international experience and cross-divisional leadership provide all the necessary elements to drive the next phase of our transformation, as we attain the Flowserve Corporate vision. His direct experience with the Flow Solutions Division over the last four years will provide a seamless transition and will position Flowserve for the continued success of the Flowserve Asset Management strategy originally led by Ferguson in our Seals business."

Prior to joining Flowserve, Beall held positions in organizations affiliated to the heritage Flowserve companies, for a total career in the flow control business that spans 23 years.

About Flowserve

Flowserve Corp. is one of the world's leading providers of industrial flow management services. Operating in 56 countries, the company produces engineered and industrial pumps for the process industries, precision mechanical seals, automated and manual quarter-turn valves, control valves and valve actuators, and provides a range of related flow management services.

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