DALLAS – July 27, 2004 – Flowserve Corporation (NYSE: FLS) and Wood Group Gas Turbine Services Holdings, Inc., part of the Gas Turbine Services division of John Wood Group PLC (“Wood Group”), have announced an alliance to deliver a wide range of field and shop-based services for the maintenance, repair and upgrade of pumps and related equipment throughout the United States and Canada.

This alliance enables both companies to more comprehensively meet the life cycle equipment support needs for their customers in the petroleum, power generation, chemical, water resources and general industries. These needs include: installation, commissioning, repair, service, overhaul and upgrade of pumps and related equipment (excluding electric submersible pumps).

According to Tom Ferguson, Flowserve Pump Division president, “This alliance is in direct response to our customers’ increasing demand for life cycle cost management service from a single-source supplier. The combination of Wood Group’s extensive field service capabilities with those of Flowserve’s service centers and pump improvement engineers will provide customers with leading equipment management services.” Ferguson noted that this comprehensive service is available for both Flowserve and non-Flowserve products.

Allister Langlands, CEO of Wood Group Gas Turbine Services, said, “This will build upon the significant field service expertise and resources of Wood Group in North America and Flowserve’s proven track record in supplying parts, upgrades and shop services for a wide range of pump makes and models.”

Flowserve Corporation is one of the world’s leading providers of industrial flow management services. Operating in 56 countries, the company produces engineered and industrial pumps for the process industries, precision mechanical seals, automated and manual quarter-turn valves, control valves and valve actuators and provides a range of related flow management services.