IN FOCUS

Robert Stanbury, vice president of engineering for Flowserve Pump Division, based in Irving, Texas, has been named the Hydraulic Institute (HI) 2003 Member of the Year.

Henri Steinmetz has been appointed as the new division president of Sulzer Metco. He will start at Sulzer Metco on May 1, 2004 and will succeed Bruno Walser, who will retire by midyear.

The Supervisory Board of Pfeiffer Vacuum Technology AG has relieved Amandus Waterkamp of his duties as Chief Financial Officer of Pfeiffer Vacuum Technology AG and appointed Diplom-Betriebswirt (MBA) Manfred Bender (39) to succeed him.

Todd W. Herrick, President and Chief Executive Officer of Tecumseh Products Company announced that David W. Kay has resigned as Vice President, Treasurer, and Chief Financial Officer and from the Company’s board of directors effective immediately in order to pursue other business opportunities.

The Sulzer Board of Directors appointed Dr. Ulf Berg (53) as new Chief Executive Officer of Sulzer Ltd. He replaces Fred Kindle who will resign from this position.

ITT Industries, Inc. announced that its Board of Directors has elected Robert M. Powers to the position of Vice President of the company. Powers is ITT Industries’ Director of Investor Relations, responsible for interaction with the investment community.

As part of the nomination process agreed upon at the Annual General Meeting in 2003, the four largest shareholders of AB SKF, who together represent around 40% of the votes of the total number of company shares, propose that Ms. Winnie Kin Wah Fok be appointed as a new member of the Board of AB SKF.

Baker Hughes Incorporated announced that Larry D. Brady, chairman and chief executive officer of UNOVA, Inc., has been appointed as a Class II director to fill the position being vacated by the retirement of Richard D. Kinder, chairman and chief executive officer of Kinder Morgan, Inc. and Kinder Morgan Energy Partners L.P.

Dr. Luciano Respini, president of Dow Europe, which is headquartered in Horgen (Switzerland), will be proposed as new member of the Sulzer Board of Directors at the annual general meeting on April 29, 2004. He shall reinforce the board with his extensive international experience.

Crane Co. announced the nomination of Karen E. Dykstra, Chief Financial Officer of Automatic Data Processing Inc., for election as a member of the Company’s board of directors, subject to approval by shareholders at the Company’s annual meeting to be held on April 26, 2004.