IN FOCUS

During the first half-year, the Group’s inflow of orders amounted to SEK 5,591 million (5,704), which is 7 percent lower than the previous year for the current structure of the Group after adjustment for the effects of exchange rate movements. The decrease is almost exclusively attributable to Rail.

DALLAS, Aug 14, 2002 — Flowserve Corp. (NYSE:FLS) today confirmed that the company’s chief executive officer and chief financial officer today provided to the SEC their personal fully compliant certifications covering Flowserve’s financial reports filed with the SEC in 2002.

Invoiced sales amounted to 165 MEUR (145), which adjusted for the effects of exchange rate movements is a rise of 14 percent. Company acquisitions account for 8 percentage points of this figure. Operating earnings rose to 9.1 MEUR (8.0).

Pfeiffer Vacuum, a leading manufacturer of high-quality vacuum pumps, vacuum gauges and mass spectrometers, as well as complete vacuum systems, announces its results for the 1st half of 2002.

Gardner Denver, Inc. (NYSE: GDI), a leading manufacturer of compressors and blowers for industrial applications and pumps for the petroleum and industrial markets, announced that revenues for the three months ended June 30, 2002 were $104.9 million, a slight increase compared with the results of the second quarter of 2001. Diluted earnings per share (DEPS) in the second quarter of 2002 were $0.34, 17% less than the second quarter of 2001, but 17% better than the results of the first quarter of 2002.

Pentair (NYSE: PNR) announced that its recent growth and cost productivity actions generated second quarter 2002 earnings per share (EPS) of $0.86, a 15 percent gain over EPS of $0.75 — without goodwill amortization — in the same period last year.

National-Oilwell reported second quarter net income of $17.0 million ($0.21 per diluted share) compared to $25.3 million ($0.31 per diluted share) in the second quarter of 2001. Revenues for the quarter were $372.4 million, compared to $434.6 in the second quarter of 2001.

Flowserve Corp. reported net income of 28 cents a share in the second quarter of 2002, compared with 7 cents a share in the year ago quarter. Excluding special items, net income was 46 cents a share in the second quarter of 2002, an increase of 31 percent compared with the prior year period, and within the range of the company’s previously announced estimates.

Consolidated order intake by the Sulzer Corporation for the first half of 2002 totalled CHF 1039 million (–3% compared with prior year, +2% adjusted for acquisitions, divestitures and currency effects). Order intake by the core divisions matched the prior mid-year level at CHF 1013 million (adjusted: +3%). This slow development is attributable to the ongoing insecurity in many market areas, a situation which Sulzer does not expect to change significantly before year-end. Order intake for 2002 as a whole is therefore likely to match the prior year level.

IDEX Corporation (NYSE: IEX)reported that orders, sales and earnings for the three months ended June 30, 2002, improved from first quarter levels but were lower than the second quarter last year. Diluted earnings per share for the quarter were 48 cents.