IN FOCUS

• Revenue growth in all four business segments
• Defense backlog reaches record $3 billion
• Water/wastewater organic revenue growth 13 percent
• Company maintains full year 2003 earnings guidance

Last December 11, Lowara S.r.l., renewed its ISO 9001: 2000 certification, issued by IQNet and CISQ/ICIM, for the factories at Montecchio Maggiore and Malé, Italy. This certification guarantees that Lowara has established and maintains a Quality Management System in the design, production and distribution of the pumping products and systems that it manufactures.

The NEMO® Progressing Cavity Pump division of NETZSCH Incorporated manufactures SF and SP positive displacement pumps to easily handle highly viscous, dry and non-flowing materials. Part of the proven NEMO® NM Series product line, NEMO® SF pumps are designed to incorporate NETZSCH’s exclusive oversized open throat feeding system, expanding the possibility of pumping difficult materials.

Pumps shut down for many reasons. Out of fuel or clogged fuel filters are two of the most typical. But high temperature, low oil pressure, low oil, high hydraulic oil temperature, low hydraulic oil are additional reasons.

KSB Aktiengesellschaft intends to take over the Dutch pump manufacturing company DP Industries B.V. based in Alphen a/d Rijn. An agreement to this effect is planned to be signed in mid-May.

“In a healthy state” is how Chairman of the Board Josef Gerstner sees the KSB Group. On 29 April, at the financial press conference of the pumps and valves manufacturer, he again presented improved performance figures.

Diversified industrial manufacturer Eaton Corporation’s (NYSE:ETN) Board of Directors declared a regular quarterly dividend of $.44 per common share, payable on May 23, 2003 to shareholders of record on May 5, 2003. Eaton has paid dividends on common shares every year since 1923.

Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) announced the election of Gregory R. Page and Kiran M. Patel to Eaton’s Board of Directors at this morning’s Annual Meeting of Shareholders.

The Swiss pump manufacturer Biral AG opted for Spaix V2, the software package for pump selection and configuration. The programme is designed to support Biral clients as well as employees in configuring centrifugal pumps and in drawing up commercial documents.

South Africa’s R1300 million pump industry will be showcased at this year’s third International Pumps, Valves and Pipes Africa 2003 (PVP 2003) exhibition and conference to be held in Kyalami Midrand in June.