IN FOCUS

At Cardo AB’s annual general meeting today, the following members of the board were re-elected: Tuve Johannesson, Fredrik Lundberg, Lennart Nilsson, Bengt Pettersson, Anders Rydin and Kjell Svensson. In addition, Berthold Lindqvist was elected as a new member of the board.

The Chairman of The Weir Group, Sir Ron Garrick commented: “Despite difficult market conditions, Group results for 2001, prior to exceptional items, were broadly similar to last year and, once again, cash generation was excellent.”

The ABS service concept has helped strengthen the company’s position in the aftermarket. The past year saw further training of service staff, the setting up of local service centres and the development of rental activities for dewatering pumps. The aftermarket area has expanded strongly with a rate of increase that is twice as high as that for other areas.

ST. PAUL, Minn., March 15 /PRNewswire-FirstCall/ —

Pentair, Inc. (NYSE: PNR) announced today that Lowe’s Companies, Inc. (NYSE: LOW), a 775-store home center chain, recently named F.E. Myers’ Water Ace retail division “Vendor of the Year” for Lowe’s rough plumbing and electrical division. F.E. Myers is a unit of the Pentair Pump Group.

As from Jan. 1, 2002, the Grundfos pump manufacturing Group took over 60% of the shares in South Korean pump manufacturing company Chung Suk. The sales agreement states that Grundfos will take over the remaining 40% of the shares over a period of two years. This is the first non-European company purchase made by Grundfos so far.

UPPER SADDLE RIVER, NJ – ITT Industries, Inc. (NYSE: ITT) announced that it has signed an agreement to purchase the business and assets of Precision Stainless Inc., a leading manufacturer of process vessels for the biopharmaceutical industry. Precision’s vessel products complement ITT Industries Pure-Flo valves and process systems and will provide significant growth opportunities for ITT Industries in the growing biopharmaceutical market segment.

QUINCY, Ill., March 7 /PRNewswire-FirstCall/ — Gardner Denver,

Inc. (NYSE: GDI) announced today that it has entered into a $200

million amended and restated credit agreement with a syndicate of

ten banks. The agreement provides for $150 million of revolving

credit for a three-year period, amending a similar $125 million

facility which would have expired in January 2003.

QUINCY, Ill., Feb. 27 /PRNewswire-FirstCall/ — Ross J. Centanni, Chairman, President and CEO of Gardner Denver, Inc. (NYSE: GDI) has announced the appointment of Richard C. Steber to the corporate officer position of Vice President and General Manager of the Pump Division.

The Weir Group PLC announces that Sir Robert Smith has been appointed a non-executive director and Chairman Designate with immediate effect. Sir Ron Garrick, Chairman of The Weir Group, has indicated his intention to retire from the Board at the end of June 2002, at which time Sir Robert will succeed him as Chairman.

ST. PAUL, Minn., Mar 7, 2002 /PRNewswire-FirstCall via COMTEX/ — Pentair (NYSE: PNR) announced today that Winslow H. Buxton will retire as chairman of Pentair’s board of directors effective April 30, 2002. President and chief executive officer, Randall J. Hogan, will succeed Buxton as chairman.