IN FOCUS

Quarterly Operating Income Up 75 Percent, Excluding Integration Expenses;

Maintains 2001 Earnings Forecast at $1.70 to $1.90 a Share, Excluding Integration Expenses

PARSIPPANY, NJ – April 20, 2001 – The Hydraulic Institute (HI) announced its 2001 – 2002 Board of Directors and officers during a general session of the annual meeting held recently in Palm Springs, CA.

“During the past two years Bob Jung has done a fabulous job establishing the Associate Member Council,” commented HI Chairman Ray Dunn, CEO, Floway Pumps, during the closing dinner at HI 2001 Annual Meeting in Palm Springs. Bob’s term as chairman of the Associate Member Council ended at this meeting with the election of Leslie Hennessy, Lovejoy Inc. as the new Council chair. Bob is president of Trico Manufacturing.

At the 87th Annual General Meeting of Sulzer Limited, Winterthur on April 19, 2001, all the resolutions proposed by the Sulzer Board were approved and all the resolutions proposed by InCentive Capital were not approved. 40.5% of the share capital was represented at the AGM, 1696 shareholders were present at the meeting.

Fluid Handling sales declined $1.2 million, or 1%, to $116.4 million for the first quarter of 2001 compared with the first quarter of 2000. Operating profit decreased $.9 million to $7.0 million in the first quarter of 2001 versus $7.9 million in the first quarter of 2000.

ST. PAUL, Minn., April 12 /PRNewswire/ — Pentair, Inc. (NYSE: PNR) announced its board of directors has declared a regular quarterly cash dividend of 17 cents per share payable May 11, 2001, to shareholders of record at the close of business on April 27, 2001.

Consolidated order intake by the Sulzer Corporation for the first quarter 2001 rose by 6% to CHF 1532 million, equivalent to a 7% increase adjusted for acquisitions, divestitures and currency effects. This encouraging growth is mainly attributable to the Sulzer Industries core businesses on which Sulzer will be based in future.

In conjunction with Flowserve’s (NYSE: FLS) First Quarter earnings release, you are invited to listen to its conference call that will be broadcast live over the Internet on Tuesday, April 24, 2001 at 11:00am in Eastern Time with Scott Greer, CEO; Renee Hornbaker, CFO; and Michael Conley, Director of Investor Relations of Flowserve.

STAMFORD, CONNECTICUT – April 3, 2001 – Crane Co. (NYSE:CR) announced today that it had completed the acquisition of the Industrial Flow Group of Alfa Laval Holding AB for approximately $37 million, based on the terms of a previously announced definitive agreement.

NORTHBROOK, Ill., April 5 — IDEX Corporation (NYSE: IEX) today announced that diluted earnings per share before restructuring charges for the first quarter are on track with earlier estimates of 32 to 37 cents.