Flowserve Wins R&D Honor in India

Dallas, Texas, USA - March 30, 2007 - Audco India Limited (AIL) has won the prestigious "National Award for Research and Development Efforts in Industry" for 2006, awarded by the Department of Scientific and Industrial Research (DSIR) by the Ministry of Science and Technology of the Government of India. AIL is a joint venture of Flowserve Corporation (NYSE: FLS), a global provider of fluid motion and control products and services, and Larsen & Toubro Limited.

The DSIR Award was presented to the in-house R&D group at AIL for "Outstanding Achievement" in the category of "Mechanical Engineering Industries." This award was established in order to promote, develop, utilize and transfer technology within India.

"We are very proud of the success achieved by our investment in AIL with Larsen and Toubro," according to Flowserve Control Division President Thomas L. Pajonas. "And we are honored that the R&D engineering team has been globally recognized for their advanced work in 3D modeling packages, finite element analysis, flow analysis, manufacturing and testing."

DSIR promotes research and development, supports state-of-the-art, globally competitive technologies, and provides a catalyst for faster commercialization of lab-scale R&D.

About Flowserve Corp.
Flowserve Corp. is one of the world's leading providers of fluid motion and control products and services. Operating in 56 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services.
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